What this means in practice:
By delivering our outcomes of Attract, Develop, Sustain and Lead on behalf of our members, ACCA and our Qualification will be seen as leading the profession in high standards, quality and innovation. This means ACCA will be the most sought-after designation in the global profession and the clear choice for individuals and employers seeking an internationally relevant professional qualification.
Strategic measure applied:
Total number of members.
Why we use this measure:
Through their ethics and expertise, our members are the main way in which we deliver value to business and society. The numbers who invest in our Qualification are also a strong indicator of the value and utility of our brand in the global marketplace.
We welcomed a record number of new members – 13,604 globally – to our ranks and we’re delighted that so many people see the value of attaining the ACCA Qualification.
This represents stronger member admissions than anticipated and drove our good performance, with some 1,000 more candidates being awarded membership than expected. This was enabled by beneficial changes to our practical experience requirements which made the process clearer for those completing exams in December 2015 while maintaining the same high standards. We also worked exceptionally hard to proactively support students at the latter stages of the qualification process towards membership through local and global outreach campaigns throughout the year.
It’s important to underline that this has been organic growth, delivered by us proactively developing students already in our examining system, without any lowering of our standards.
These stronger than expected admissions helped offset a fall in member retention from 98.3% to 98.1%. The markets most affected were those where macroeconomic conditions and exchange rate fluctuations made ACCA more expensive in the past 12 months. We’re looking at those countries most vulnerable to these changes and assessing what we can do to promote and enhance the value of membership. This also links directly to our global member value work, which is one of our three main priorities for 2016-17.