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We actively manage a range of key stakeholder relationships, recognising that our success and sustainability depends on their input and involvement.
As part of our work on the strategy to 2025, we have developed updated value propositions for all our stakeholders in order to maintain a strong focus on meeting their different needs.
Since adopting integrated reporting in 2011, we’ve consulted annually with stakeholders across a range of markets on the content and presentation of our integrated report. This has been an iterative process that has enabled us to build a picture of how our reporting can best address readers’ needs while also meeting the requirements of the international <IR> framework.
Our material issues
Our material issues have been arrived at through detailed analysis of the profession and key global competitors, and are reviewed annually for relevance against our strategy and the external environment.
This year, we have undertaken a more comprehensive process of reviewing and updating, using our work on the 10 disruptors in the future and our professional insights work on professional accountancy careers in the coming decade, alongside a review of competitor reporting and key pieces of external research on global risks and issues. The language of the descriptors has also been refreshed and updated, to match that used in our strategy to 2025.
Together with this validation and sense-checking, we also looked to see where we could potentially reduce the number of issues, either by combining or challenging whether they were still relevant.
As a result, we’ve reduced the list of material issues from 21 last year to 18 this year.
2020 relevant matters
1
A customer-centric organisation
We will put customer needs at the centre of our decision-making and be able to respond quickly to stakeholders’ changing needs.
2
ACCA’s global presence
Our footprint; number of countries we operate in; network of national offices; access to international networks; and strength of our communities.
3
Acting for public good
Promoting responsible and ethical conduct in the accountancy profession. Supporting economic growth by building capacity where it is most needed in the profession worldwide.
4
Agile, innovative and motivated workforce
Recruiting and developing people and teams that are adaptable, ready and eager to embrace new thinking and technology, and deliver solutions at speed.
5
Attractiveness, relevance and integrity of the ACCA Qualification
Ensuring the ACCA Qualification remains fit for purpose; applying uniform global standards in qualification requirements; continuous improvement and innovation; products that are of relevance to students, members and employers, thereby increasing employability prospects.
An accessible and flexible qualification that provides a broad range of skills and the ethical compass demanded by employers in every sector around the world. Innovative, market-leading assessment and learning support, enhancing the flexibility and relevance of our qualification through technological solutions, which maintain or improve the rigour and security of assessments and provide the student with an online experience.
6
Best-in-class digital capabilities and infrastructure
Keeping pace with digital developments across our operations; proactive, responsive and efficient delivery through our digital capabilities. Single source of truth for data that drives effective decision-making; speedy, flexible, flawless and reliable service; and technology-enabled infrastructure. Awareness and combating of cyber threats, including digital privacy and data protection.
7
Brand recognition
Being recognised as #1 in developing the accountancy profession the world needs. Shaping the future of the accountancy profession and enabling individuals and organisations to unlock their potential. Brand value, media recognition and share of media voice in different markets. Reshaping what it means to be an accountant as the guidance role grows – it is about insight, professionalism and ethics.
8
Creating inclusion
Providing opportunity and open access to all people of ability throughout the world; no artificial barriers to entry; access to high-quality learning for all, providing options for individuals to gain relevant skills that reflect the changing nature of the accountancy profession to the level they require.
9
Effective internal governance and compliance
High standards of corporate governance and accountability; effective compliance with policies and legislation; effective internal audit and corporate assurance, including anti-corruption; speed of response to changing environments and legislation.
10
Environmental sustainability of ACCA’s operations
Promoting environmental sustainability in our operations and in our supply chain.
11
Financial sustainability
Ability to invest in ACCA’s future and keep pace with stakeholders’ changing demands and expectations. ACCA’s financial performance and reporting of it; balance-sheet strength (including pension deficit).
12
Learning provision: reach, resilience and quality
The reach, resilience and quality of ACCA’s learning provision; its affordability to students; learning providers’ commitment to enabling ACCA to operate effectively, including innovating and embracing new technologies that enhance students’ learning experience and meet the demands of the workplace.
13
Member and student retention and growth
Recruitment of students who are informed, motivated, supported and equipped to progress through our qualifications and to obtain and retain membership if that is their end goal. Using data and insights to determine areas for potential growth and being cognisant of market-specific circumstances.
14
Member professional and career support
Providing members with ready access to knowledge to ensure that they remain relevant when the skills required of professional accountants are constantly evolving; networking opportunities; CPD; career portal; online forums, helping to market members to employers and enhance the employability of members.
15
Stakeholder engagement and responsiveness
Engagement level and relationships with members, students, employers, learning providers, standard setters etc and responding to developments in their worlds (eg value for money, changing nature of their careers etc).
16
Statutory recognition and licence to operate
Statutory recognition and licence to operate; ensuring that the ACCA Qualification is recognised and accepted across all markets and all sectors; overcoming or minimising restrictive or protectionist challenges that may prevent growth or entry into new markets.
17
Strength of relationships with partners
Our learning provider partners will be committed to ACCA and our employer partners will champion our value because we work together to deliver successful, employable students and members. We will work with national bodies and other partners to build the profession.
18
Thought leadership and public influence
Leading the policy and technical agenda through expert research and professional insights; contributions to public policy and regulation; participation in key international, regional and national forums.
This year, we invited members of our network panels around the world to take part in online workshops to rank the 18 material issues we’ve identified. We also additionally consulted with representatives from our strategic learning partners. These results form the external view of our material issues.
ACCA’s employees on our Leadership Group also undertook the same exercise to provide the internal view of material issues.
Because of the changes in descriptions and the reduction of the overall list, it is not possible to provide reliable and meaningful comparisons with last year’s rankings on every issue.
However, looking in general, we have seen ACCA’s need to act for public good becoming much more highly rated and greater prominence being attached to the capabilities demonstrated by ACCA’s workforce.
Elsewhere, rankings of issues are very consistent with 2018-19, with the attractiveness, relevance and integrity of the ACCA Qualification as the highest ranked issue, showing the continued belief that investment here is fundamental to ACCA’s future success.
Once again this year, internal and external rankings are very strongly correlated. We’ve seen these two sets of rankings continue to move closer together during the strategy to 2020, as we have deepened engagement and consulted more closely on strategy and direction with our member network representatives and learning providers.
The materiality matrix
Scores out of 7 where 7 = ‘most important’ and 1 = ‘not very important’
- Internal ranking
- External ranking
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