How much increase did you receive in your salary last year? The UK inflation rate is around 2% per annum. Perhaps, you maintained your income in real terms or even managed to just beat the rate of inflation.

The ACCA’s accounts show that in 1999 its chief executive, Anthea Rose, received a whopping increase of  nearly 15%. ACCA’s income is relatively risk free. It has captive members and students who faithfully pay up ever rising fees.

Anthea Rose’s salary, benefits and pension contributions increased from £140.156 to £160,932. No information is provided about the amount spent on her luxury trips outside the UK. The accounts also show that ACCA members also paid the  costs of her husbands’ travels of £19,452. How do ACCA members benefit from this?

Anthea Rose is due to retire at the end of 2001. Under her contract, it is thought that she will receive a retirement pension equivalent to her final salary. Members have never been asked to approve such arrangements.

Anthea Rose is not a member of the Association. ACCA members are not given sight of her contract. They have never been asked to approve it. In companies, shareholders can vote on director salary. But ACCA members are not allowed to vote on her salary or performance.