RegulationAccounting StandardsACCA restructures its governance regime

ACCA restructures its governance regime

Seven independent 'lay persons' head up ACCA's new regulatory board

The regulatory regime of the ACCA has been revamped, in a move that brings in
a number of independent ‘lay appointees’ to oversee the institute’s governance.

ACCA’s regulatory board comprises seven independents plus three council
members, in a bid to streamline its governance operations and increase its
impartiality and serve the public.

Peter Large, executive director – governance at the institute said the new
structure took on board regulatory best practice.

‘Placing oversight of regulation and discipline at arm’s length from the
governance of ACCA’s other activities helps to reassure stakeholders that ACCA’s
arrangements are operated impartially, with integrity and in the public
interest. The advent of the Board keeps ACCA at the pinnacle of best practice in
regulatory and disciplinary governance.’

ACCA head of ethics and regulation Sundeep Takwani told Accountancy
Age
that its previous governance arrangements operated in separate
‘strands’, and the new structure was more joined up and independent.

Independent board members hold three year contracts, before renewal is
considered.

The first members are: Katrina Wingfield – Chairman ACCA Regulatory Board;
Steve Barrow – Member ACCA Regulatory Board (Lay member); Peter Cadman – Member
ACCA Regulatory Board (Lay member); Tony Cushing – Member ACCA Regulatory Board
(Council member); Barbara Duffner OBE – Member ACCA Regulatory Board (Lay
member); Clement Ebinum – Member ACCA Regulatory Board (Council member);
Christine Fraser – Member ACCA Regulatory Board (Lay member); Raphael Joseph –
Member ACCA Regulatory Board (Council member); David Lock – Member ACCA
Regulatory Board (Lay member); and Alan Kershaw – Member ACCA Regulatory Board
(Lay member).

Wingfield works at Pennington Solicitors.

Further reading:

For
more about the board click here

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