ACCA faces censure bid

ACCA members are preparing to censure the association’s president Michael Foulds for spending nearly #500,00 on proposals for a merger with CIPFA and CIMA. Accountancy Age has learned the ACCA Reform group, which forced the association to hold two emergency general meetings in the last two years, has received nearly 100 requests from members to put forward a motion of censure against Foulds for spending the money without consulting members.

The group, which counts among its members professor Prem Sikka, said it would not act quickly to censure Foulds. A group spokesman said it would consider if a censure motion, which could not be debated until next year’s agm, would bring about any change. At the moment, the group is considering putting forward plans to elect the president by popular vote of all members rather than the association’s council.

In reply, ACCA chief executive Anthea Rose said all members’ comments would be taken seriously, but voting among members on the proposals was consistently high, at 77%.

CIMA president Peter Layhe rebuffed ACCA’s merger plans in a strongly worded rebuttal at CIMA’s headquarters last week. Instead, Layhe spelled out a model for the profession as two separate bodies representing regulated and non-regulated members. ‘It is clear that where these hybrid organisations exist, conflict is inevitable – they would be the providers of audit as well as the buyers of it.’

David Leonard, chairman of ACCA’s merger taskforce said CIMA’s view is inconsistent with that which it advanced when it attempted to merge with the English ICA two years ago. ‘Nor is it consistent with the Layhe’s statement that the existence of two bodies will create a polarised profession.’

Last week, CIMA member Ian Robinson, finance manager of utility company York Waterworks, said he would vote against the merger but added: ‘In the long term there has to be some rationalisation’.

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