TO END ITS SATELLITE EXPERIMENT
(visit AABA home)
democracy is not possible at ACCA as members and students are milked to
finance exorbitant salaries, pensions, plush offices and trips for
unelected directors and officeholders.
Anyone following the antics of ACCA's controllers would know that
members are not allowed to directly elect officeholders. CEO is not
elected and unlike companies, members cannot vote on executive
salaries. Council elections are rigged as officeholders cast
hundreds of votes to ensure that their cronies get in. Council
meeting minutes are not available to members. ACCA also has a history
of racist conduct. For example, it has used its magazine to attack
non-white members who have then been refused any 'right of reply'.
Ahead of the AGM it has leaked the results of council elections
to newspapers to highlight that non-white members are not elected to
council. ACCA AGMs are a sham. There is no such thing as "Any Other
Business" and members are prevented from asking any searching
questions. Even if they do the leadership ignores them. From 2007, ACCA
leadership can increase membership fees by 5% without any AGM
resolution or approval from members. ACCA has been criticised by name
in the UK House of Commons.
ACCA has no influence on government policymaking in the UK and is
making no inroads into China or India. It has been worried that that
enlightened overseas members would reduce its growth in emerging
economies by developing their own institutional structures . Hong Kong
has already reduced the value of ACCA qualifications and now requires
ACCA qualification holders to take additional exams. Rather than
introducing reforms to make ACCA open and democratic, ACCA leadership
has gone for gimmicks.
One of these has been to establish satellite inks to the AGM which is
always held in London even though nearly 60% of the membership is
outside the UK. In 2005, the first satellite link was established and
the AGM was simultaneously opened in London and Hong Kong. In 2006,
similar arrangement was made as London and Poland linked up. The Hong
LKong and Poland AGMs were packed with 'insiders' and none asked any
worthwhile questions. For over twenty years, AABA director Prem Sikka
has attended the London AGM and always raised questions about lack of
democracy and unaccountability of the ACCA leadership. He raised the
same questions again in 2005 and 2006. As usual, the ACCA leadership
did not provide any meaningful answers. Some enlightened members
in Hong Kong and Poland also noted this and were struck by the
of the leadership. Many subsequently corresponded with Prem Sikka and
have been encouraged to stand for council and try to reform ACCA.
ACCA sought to appease overseas members through cheap gimmicks rather
than giving them rights and making the Association accountable.
Despite costing nearly £250,000 such tactics have not worked.
Members are not happy with control from London and lack of
accountability. So the ACCA is now set to silence its overseas members
and end the satellite experiment.
'Insiders' say that if and when pushed the ACCA officials will
say that the experiment was costly. This is a lame excuse. The
latest ACCA accounts (for 2005) show that ACCA had income of
£68.7 million, surplus of over £2 million and assets of
over £45 million. The real reason is that ACCA is
adept at worthless gimmicks and when members start asking worthwhile
questions the leadership goes to any length to silence them.