Members Material Issues
Professional body partnerships and recognition
For over 40 years, ACCA has worked with governments, professional organisations and academic institutions to build capacity and develop the global profession.
ACCA works closely with national accountancy bodies to further the development of the profession and promote internationally recognised standards of professional competence.
This includes collaboration around standards implementation, professional development and regulation and monitoring. Through this, we aim to be a strong co-operative partner, serving the interests of the wider profession – as well as our members – and delivering public value in its widest sense.
ACCA’s culture of collaboration focuses on bringing value to economies by working flexibly with national and regional partners to build national capacity for common benefit.
To achieve ACCA’s vision to be #1 in developing the accountancy profession the world needs, we work closely with professional body partners so that common objectives are shared and mutual interests aligned. For our members, recognition and demand by employers tends to be of greatest importance,as shown by our materiality results. As a result, ACCA has a strong focus on enhancing brand recognition alongside developing more formal recognition agreements with national and regional partners.
More formal types of recognition can support enhanced market recognition, although formal recognition is not a prerequisite to market recognition. Formal recognition is important to members who wish to undertake work that is regulated, such as audit, and it is therefore important that ACCA enhances this type of recognition. In many countries this is achieved by providing ACCA members with a route in to the national professional body or regulator with the minimum of additional requirement (eg through exemptions).
Where ACCA has formal recognition in its own right, such as the UK and Ireland, it is a priority to ensure that this is maintained.
In addition, ACCA seeks to enhance the recognition of its qualifications at postgraduate level on national education frameworks or with education boards.
Mutual recognition agreements (MRAs)
MRAs allow members of one body to use the designation of the other body’s qualification and have access to membership services. The benefits to members include increased recognition in a market where ACCA is less well known, or increased individual status by obtaining an additional designation. ACCA currently has a range of MRAs in place with national accountancy bodies, including a Reciprocal Membership Agreement with our strategic alliance partner, Chartered Accountants Australia and New Zealand.
Joint exam partnerships
ACCA has 17 Joint Examination Partnerships globally, where ACCA works with a national professional body to provide globally-accepted qualifications, with local recognition and relevance. Under these partnerships, students able to satisfy the exam criteria for membership of both simultaneously:
Barbados - Institute of Chartered Accountants of Barbados
Belize - Institute of Chartered Accountants of Belize
Botswana - Botswana Institute of Chartered Accountants
Cambodia - Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA)
Cyprus - The Institute of Certified Public Accountants of Cyprus
Eswatini - Swaziland Institute of Accountants
Greece - The Institute of Certified Public Accountants of Greece
Guyana - Institute of Chartered Accountants of Guyana
Jamaica - The Institute of Chartered Accountants of Jamaica
Lesotho - Lesotho Institute of Accountants
Malawi - Institute of Chartered Accountants in Malawi
Malta - The Malta Institute of Accountants
Sierra Leone - The Institute of Chartered Accountants of Sierra Leone
Singapore - The Institute of Singapore Chartered Accountants
Trinidad - The Institute of Chartered Accountants of Trinidad and Tobago
United Arab Emirates - Accountants & Auditors Association (AAA)
Vietnam - Ministry of Finance
In addition, we have a range of agreements and memorandums of understanding (MoUs) with national and regional bodies ranging from CPD collaboration to joint work on professional insights.
ACCA and CICPA
— 2018 marked 30 years since ACCA’s entry into mainland China
One of ACCA’s most enduring professional body partnerships in the region is with the Chinese Institute of Certified Public Accountants (CICPA), the national accountancy body for China.
ACCA first entered China in 1988, just a few short weeks after CICPA was established in order to develop the national accounting profession needed to drive forward the country’s economic development. Since then, ACCA and CICPA have enjoyed a close collaborative relationship which has strengthened the accountancy infrastructure across China.
This partnership has included CICPA and ACCA working together on programmes for CPA tutors for the past 14 years, training some 500 CPA tutors in total, and working on joint guidance for management accounting.
As part of ACCA’s China 30 celebrations in Beijing in June 2018, we were delighted to sign a strategic memorandum of understanding with CICPA, which will see ACCA continue to support the professionalisation of the Chinese profession.
Jenny Gu FCCA, ACCA’s deputy president, was in Beijing for the anniversary celebrations, including the agreement with CICPA. The development of her career as an ACCA member has mirrored the progress of the profession in China.
‘I registered as a student in 1993, so I’ve had a ring-side seat during ACCA’s development in Greater China over the past quarter of a century. It’s been a privilege to see the contribution ACCA has made to the national profession over such a sustained period and to see ACCA’s stature and influence grow, as it continues to partner with CICPA and other key players in the Chinese profession.’
Jenny will become ACCA’s first female president from mainland China at the next ACCA AGM in November 2019.