Global delivery, global opportunity
ACCA performance in 2006
Global results for 2006 demonstrate that ACCA is developing its reputation in employment markets in all regions of the world, through growth, engaging with its members in 170 countries and working through prestigious new partnerships. ACCA is also investing in its future through the development and launch of its new professional qualification, with its emphasis on professionalism and ethics.
ACCA is now the international market leader by size in 47 markets and, based on independent surveys in 15 markets, it has increased its reputation among employers of accountants over the last five years. ACCA achieved its growth targets in 2006, with a 13.8% increase in total student numbers and 5.3% increase in total members. All these achievements make ACCA the world's largest and fastest-growing global professional accountancy body.
ACCA has achieved this position by focusing on global delivery and global opportunity. ACCA's global infrastructure means that exams and support are delivered at local level, together with reputation and influence building, directly benefiting stakeholders wherever they are based - or plan to move to in pursuit of new career opportunities. More importantly, ACCA has developed according to a unique set of values which set it apart in the accountancy profession - in particular, by championing opportunity, diversity and integrity.
Highlights of 2006
- In 2006, ACCA expanded its global accountancy partnerships. New mutual recognition agreements (MRAs) were agreed in Canada and Hong Kong with the Certified General Accountants Association of Canada (CGA-Canada) and the Hong Kong Institute of Certified Public Accountants (HKICPA). Of particular significance is the range of partnerships ACCA now enjoys, with agreements relating to joint qualifications, regulation, continuing professional development, technical research and the promotion of further qualifications, such as the Diploma in International Financial Reporting. New contracts obtained to support regional and national bodies in delivering quality assurance and audit monitoring have helped to position ACCA as a global leader in audit regulation: ACCA now works with the East, Central and Southern African Federation of Accountants (ECSAFA), the Institute of Certified Public Accountants of Cyprus (ICPAC) and the Malta Institute of Accountants (MIA).
- ACCA redesigned and launched its professional qualification, with a greater emphasis on professionalism and ethics at its core, increased flexibility with respect to specialist options, and a new framework for practical experience requirements, based on competences and the achievement of performance objectives.
- ACCA's platinum sponsorship of the World Congress of Accountants in Istanbul, organised by the Turkish accountancy profession and the International Federation of Accountants, demonstrated that ACCA is a leading voice in the global accountancy profession.
- A range of new partnerships with professional bodies and academic institutions (including e-learning) have extended the opportunities for members to obtain further professional development to acquire specialist skills or qualifications in broader strategy. With 78,900 members having commenced their CPD requirements under ACCA Realise in 2005 and 2006, attendance at ACCA-organised CPD events has increased to over 88,000. ACCA was pleased to announce a global partnership with the Securities and Investment Institute, providing members with access to additional qualifications and services in the financial services sector.
- ACCA provided significant input into legislative developments in many countries, especially in relation to accounting standard interpretations in the UK.
- Work continued to ensure ACCA is an efficient and effective organisation, through a restructuring of the customer services operation, investment in global technology infrastructure, and realised savings of £800,000 through outsourcing print and distribution of printed materials in the UK.
Student and member growth 2006
Growth was strong across all markets, with the fastest member growth in 2006 in South East Asia, the Middle East, Africa and Central and Eastern Europe, including China, Ghana, Russia, Slovakia, Ukraine, United Arab Emirates and Vietnam. ACCA's largest markets, including Ireland, Malaysia, Singapore and the UK, also showed healthy growth. The top 20 largest markets for ACCA members highlight its increasingly global profile, containing three countries from Central and Eastern Europe, five from Africa, and five from Asia Pacific. Student growth was especially high in some regions in 2006. Six of ACCA's top 20 fastest-growing student markets in 2006 were in the Middle East and a further five in Central and Eastern Europe. ACCA now has 296,000 students and 115,000 members in 170 countries.
Largest 20 markets for ACCA members - 2006
- mainland China
- Czech Republic
- Hong Kong SAR
- Trinidad and Tobago
- United Kingdom
- United States
ACCA's performance: 2006
View ACCA student and membership statistics 2006 (PDF document)
Looking to 2007
Some of the developments this year will include:
- The first exams for the new ACCA Qualification will be taken in December. An international series of conferences and events on the theme of professionalism and ethics is being held throughout the year, to mark the introduction of the new qualification.
- Growth is expected to continue, in line with global demand for accountants with international skills. However, there is expected to be some effect from transition of the current ACCA Professional Scheme to the new ACCA Qualification, and therefore growth is likely to normalise over a two-year period.
- ACCA will continue to pursue global accountancy partnerships which add value to its members and which are consistent with its aims and values - particularly in relation to enhancing global delivery and providing opportunity to people of ability and application, and in the areas of quality assurance and professional development.
- The partnership between ACCA and Cambridge University English for Speakers of Other Languages (ESOL) will come to fruition, with the first exams sessions for the Cambridge International Certificate in Financial English (Cambridge ICFE), this May.
- Council will continue to be more proactive in engaging with ACCA members, building on its first ever meeting outside Europe, held in Malaysia in September 2006. The ACCA President will feature in an online broadcast to all members on 11 April at 12.00GMT. The newly-relaunched global website will also provide a platform for enhancing online communications and services to members.
- ACCA's technical research agenda and its contributions to public policy in relation to accounting will continue to develop, to reflect issues and developments at both international and national level, especially in relation to SMEs, business ethics, corporate governance, audit regulation, IFRS and sustainability reporting.
ACCA's 2006 annual report and accounts will be published on the website in March 2007, and summaries made available to all members.