The Private Fiefdom of ACCA: ACCA Publishes Opaque Accounts
Support 2015 AGM Resolutions - Reclaim the Association


If there was a prize for publishing opaque annual accounts, ACCA would easily 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 document 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 opaque accounts.

ACCA members are reminded that in the event of bankruptcy, they could be personally liable for the Association's debts.

ACCA 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.