Financial Statements For the year ended
Principles of good governance
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| Principles of good governance Council and the Chief Executive Council is the governing body of ACCA and therefore has a key role in ACCA affairs. Its fundamental purpose is to ensure that ACCA delivers the objectives stated in the Royal Charter. Council’s terms of reference highlight its responsibility for determining ACCA’s strategic policy objectives and for monitoring the organisation’s performance in relation to its strategic plan and annual budget. It delegates certain aspects of this function to Council Board, committees and task forces which operate under its overall guidance and report to it. The Chief Executive manages ACCA’s activities and services in accordance with the framework set by Council and reports progress and performance against clear and agreed financial and non-financial measures. Detailed written terms of reference for Council, Council Board and Committees are published and regularly updated. Council has adopted a Code of Practice for Council members. This Code of Practice, a link to which is circulated to members with the material for the Annual General Meeting (AGM), applies to Council members when acting in their capacity as Council members and provides a framework for the operation of Councils business. Council is a collegial body and expects all of its members to recognise their collective responsibilities and to comply with the Code. Whatever their geographical or sectoral bases, Council members do not represent particular areas or functions. At 31 March 2022 Council had 40 volunteer members. They are all subject to reelection every three years, fora maximum of three terms. The immediate past president also attends Council. They have a wide-ranging remit geared to providing strategic direction for ACCA. Council members examine issues of broad and long-term importance to ACCA and establish ACCA’s position on global industry developments as they arise. Following the 2021 AGM, Council now has members from 16 different countries, reflecting the diversity of ACCA and its members. Profiles of Council members are available on the ACCA website at www.accaglobal.com Following the changes made at the 2017 AGM, ACCA is implementing changes to Council’s composition, increasing the number of seats to a maximum of 45 and introducing a series of measures to support Council in being reflective of ACCA’s global membership. The officeholders (Officers) of ACCA are the President (Orla Collins, the Deputy President (Joseph Owolabi) and the Vice President (Ronnie Patton. The incoming Vice President is elected by Council from among its members by ballot each year. Council then formally elects each of the Officers at its first meeting following the AGM, which this year will beheld in November. In the normal course of events, in the two succeeding years Council elects the Vice President to serve as Deputy President and then President of ACCA. Diversity ACCA supports greater diversity in the composition of boards not only in terms of gender, but also in background and experience. Council, Board and Committee induction All newly-elected Council members attend an initial induction session, usually arranged around the AGM. The induction session gives new Council members the chance to find out more about the structure of ACCA, the development of its strategy, and any key issues which are currently before Council. The session is chaired by the President, and new Council members have the opportunity to ask questions of the Officers, the Chief Executive and senior staff. Association of Chartered Certified Accountants Corporate Governance Statement for the year ended 31 March 2022 Download 0.68 Mb. Share with your friends:
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