Accountancy Age (17 June 1999, page 1) has reported that the selfish games by the overpaid ACCA Secretariat and the obsession by some Council members to secure free world travel (as officeholders) has had the inevitable effect.
In a survey, 45% of the UK finance directors felt that services to members are now overshadowed by internal politics. "ACCA is in a mess", said one finance director. "They seem preoccupied with internal wrangles and very remote", said another. "It seems as though the institutes can please themselves rather than members", was another view.
In addition, AABA has conducted its own survey of the 'accountancy jobs' advertised in the UK national and accountancy press. Less than 3% of the advertisements specifically mention ACCA qualifications.
ACCA bureaucrats are too busy collecting their high salaries and pensions.
The decline of ACCA will affect all members. Their name and reputation
will suffer. The responsibility for this rests squarely with ACCA chief
executive and Council.
ACCA's chief executive is not an ACCA member. She is not elected by ACCA members. Without any consultation with members the chief executive enjoys a salary package of £141,000 and in 1998 received an increase of 24%. No ACCA member earns this. Upon retirement, the ACCA chief executive will also pick up a pension of more than £150,000 per annum. ACCA chief executive is often seen in exotic locations (most recently Rio de Janeiro). She is often accompanied by her husband. The cost of his travels is also charged to the Association.
ACCA chief executive has a special talent of antagonizing members of Parliament. ACCA continues to be condemned in Parliament. Here is a snippet of what has been going on in recent years.