Private Fiefdom of ACCA: ACCA Publishes Opaque Accounts
2015 AGM Resolutions - Reclaim the Association
there was a prize for publishing opaque annual accounts, ACCA would
win it. Here are some examples.
Note 8 of the 2015 accounts says that the expenditure on
"markets" has increased from the 2013 amount of £29.472 million
to £38.133 million for 2014. No details are provided though one
could decode the official jargon. It means empires are being built as
chief executive and unelected leaders play masters of the universe. No
approval from members is ever sought for expansion. No strategy
has ever been presented to members. Then members don't count
though their pockets are regularly picked.
Another item labelled as "Finance and Operations" has jumped from
£70.415 million to £75.667 million. No details are provided.
All together, the "Operational expenditure" has increased from
£132.299 million to £146.653 million, an increase of nearly
£14.5 million, but no details are provided. Auditors approved the
ACCA members are reminded that in the event of bankruptcy, they could
be personally liable for the Association's debts.
members could show their displeasure by rejecting the £368,157 remuneration package for the chief
executive or the 15.4% increase for directors, but they are
not permitted to vote on chief executive or director remuneration. They
cannot express their views on ACCA's practices, operations and
policies. The only way to show
displeasure is by voting against the annual accounts.