ACCA members can expect a massive hike in their subscriptions. Without telling members, ACCA officialdom has agreed to foot 28% of the annual costs of the 'Swinson' regulatory proposals. The costs are expected to be around £5 million per annum. ACCA members' subscriptions could rise by as much as £25 per annum, and all for the benfit of a regulatory system designed to deal with major firms and a system which will never command public confidence. Currently, the ACCA subscription increases are running at twice the rate of inflation.
Whilst you are working out the ACCA share, we won't remind you that your subscriptions have already enabled the officeholders to take their spouses, friends and mistresses on overseas jaunts. Nor will we remind you that the Association has wasted thousands on failed publishing ventures, TV programmes and the operations of the Joint Disciplinary Scheme (JDS).
The Chartered Institute of Management Accountants has agreed to pay a maximum of only £38,000 per annum. Do ACCA mmebers have the deepest pockets?