ACCA is well known for advancing imperialism and subjugation of developing countries. It believes that the world's accounting, from Afghanistan to America, should be the same. The market model of accounting and auditing has failed, as evidenced by numerous scandals. But ACCA's leaders don't seem to be able to reflect on this.

Islamic ethics and accounting cannot  easily be reconciled with concepts such as the shareholder's funds, historical cost , prudence and many other western accounting concepts.  None of this bothers ACCA. Its main concerns are money and indoctrination of future accountants. It does not want the local populations to develop their own practices and live good lives according to their own principles. Instead, it encourages dependency.

ACCA does not support the idea of international accounting rules being developed by the United Nations (UN). Instead, it wants to hand over public policy making to an unaccountable body, the International Accounting Standards Board (IASB). The IASB is funded by big accountancy firms and big business. It even asked Enron for money. Big business does not give money away. It makes investment. The return is weak accounting policies. The IASB is not accountable to anyone. It does not owe a 'duty of care' to anyone. It is not under the control of any sovereign state or democratic politics. It has no mandate from the people to make decisions on matters such as the distribution of income, wealth and risks.

The result of shifting rule making to the IASB would be that at times of major crisis, the nation states would be at the mercy of organisations, such as the IASB. This is a recipe for domestic strife and international conflict. As always, ACCA's masters  have shown inability to think about the issues.