ACCA’s executive is facing opposition to its plans to transfer the power to
increase subscriptions from its membership to its council.
The institute says the proposal, due to be voted on at the AGM on 18 May,
will help managers plan medium and long term budgets.
But the measure has been branded undemocratic and lacking a compelling
ACCA chairman Christopher Forster said: ‘ACCA is founded on democratic
principles which it holds dear to all it does.
‘The proposed change is not intended to remove that basic premise, it is
merely a practical
solution to an issue council believes is important.’
If the council gains control, subscription rises will be limited to 5% a
year, an increase on the current standard of £5 each year. Increases higher than
5% would still need the approval of members.
Opposition has come from dissident ACCA member Professor Prem Sikka, who has
used his website to call on members to oppose the measure.
‘If a company wants to raise new money from its shareholders it has to put
forward a financial plan and make a case for it. The ACCA has done no such
thing,’ he said.
Last year the subscriptions were raised to £170 with 66.8% of members in
Prof Sikka claims there is growing concern over the amount of power being
concentrated around the ACCA council.
The executive is so concerned that a low turnout will derail the proposal,
that it has sent an email
to members from Dennis Yeates, the chairman of its UK committee, imploring
them to vote in favour.
Colin responds to the call for 'Darwinism' in accountancy
Does Darwin's theory apply to taxation? Colin ponders...
Colin comments on the effect of Brexit on the influx of partners at KPMG
Colin provides insight into the Tesco and Unilever scandal over Marmite