Are you sitting comfortably? Working hard for your money? Then spare a thought for the ACCA officials, council members and their spouses who are spending your money. For three days starting on Friday 12th November, the 'freeloaders' are lapping it up, all expenses (travel, taxi, hotel, food, wine, entertainment) paid, at London's five star Landmark hotel. Not to miss the chance of enjoying it, most arrived a day early on 11th November. Nearly 100 people are booked into the hotel by ACCA.

Rather than holding council meeting at the ACCA headquarters, the meeting is to be held at the the Landmark Hotel. Then it is to be followed by a two-day bonding session (errr... strategy meeting) in expensive meeting rooms. The cost is more than £100,000 and you will pay it. So expect more inflation-busting subscription and licensing fees increases.

Needless to say, the annual accounts will make no disclosures about this organized looting. And oh yes, strategy! What strategy? ACCA just gets pulled along by the coat-tails of the ICAEW. It promotes stupid policies like small company audits. The in-house magazine is censored and the chief executive is all too powerful. Most council members are too scared to speak and if they did the President would exercise his 'proxy votes' to get rid of them. So please don't worry. Just keep on sending your cheques and ask no questions.