The number of ACCA bureaucrats continue to multiply. In 1999, they increased from 269 to 323. An increase of 54 or 20%. The wages bill increased from £7.8 million to £9.7 million. No doubt, the chief executive and other directors now have an empire to run to justify their high wages and perks. But what do these bureaucrats do beside occupying plush offices in city centres?
They canít be selling the ACCAís magazine (Accounting & Business) or generating revenues for it because ACCA members have been forced to bail it out by paying £810,000. They canít be chasing up the debtors which increased from £4 million to £5.6 million. They canít be dealing with membersí needs because unlike other professional bodies (e.g. CIMA) ACCA does not have an internet forum for its members. They canít be running a library because ACCA does not have any. Its own staff uses the ICAEWís. Members outside the UK donít have any such facilities any way. Perhaps, they are busy selling ACCAís investments. During 1999, ACCA was forced to sell investments valued at more than £2.2 million to generate cash flows. Perhaps, they were busy negotiating bank overdraft which increased by £593,000
Members are told that ACCA is making investment in information technology and that this should reduce the need for staff. But they just keep multiplying.
Make ACCA management give members value for money.
VOTE AGAINST ALL SUBSCRIPTION INCREASES