British rate of inflation is 2.4% per annuam. the avergae wage increases are 2-4%. But not for the ACCA 'let us help ourselves brigade'. The ACCA Chief Execuiove has walked off with an increase of 21% i.e. £24,000. Then there are three directors. The annual accounts which have not been mailed to all ACCA members - nice way of making sure that members can't ask any questions, show the following:
The aggregate emoluments of the Chief Executive and three
Directors, including benefits in kind and pension contributions
paid by ACCA, were £384,424 (1997: £342,085).
That is an annual increase of over £42,000 averaging 12%. Whilst the ordinary emplyees who mop up the mess made by the high flyers only got 2.08%. Nice example in restraint and exploitation. What have the directors and the Chief Executive done to deserve the whopping increase?
Of course, they don't have the decency to put their performannce and
salary to a vote by members.