In the UK, the Office for Fair Trading (OFT) has conducted a major probe in competition in professions. This probe also covered the UK accountancy profession. Many parties give evidence to the OFT, including Professor Prem Sikka, the ICAEW, CIPFA and others. But where was ACCA? Nowhere. Perhaps, the ACCA officials were too busy having lunches, jostling for replacing the chief executive, traveling the world, working out how to curb the District Society system and pursuing other narrow personal matters. What are the ACCA Directors are the chief executive paid for, if they cannot represent members in major inquiries?
The OFT exercise shows that ACCA, despite its boast of being 'global',
has no influence in the UK.
"Competition in Professions" - A Report by the Office of Fair Trading