Financial Statements For the year ended
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- Statement of Council’s responsibilities (continued)
| Council meetings During the year there were four meetings of Council. Statement of Council’s responsibilities Although not required to do so, either by the Royal Charter or by UK statute, Council has elected to prepare financial statements under UK-adopted International Accounting Standards, which give a true and fair view of the state of affairs of ACCA and its subsidiaries at the end of each accounting period and of the results for the period. In preparing these financial statements, Council ensures that suitable accounting policies are selected and applied consistently reasonable and prudent judgements and fair accounting estimates are made • UK-adopted International Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and • the financial statements are correctly prepared on the going concern basis. Council considers that the Integrated Report and financial statements, taken as a whole, are fair, balanced and understandable and provide information necessary for members to assess ACCA’s performance, business model and strategy. Association of Chartered Certified Accountants Corporate Governance Statement for the year ended 31 March 2022 Statement of Council’s responsibilities (continued) Council has delegated to the Chief Executive and the senior staff its responsibility to keep proper accounting records, that are sufficient to show and explain ACCA’s transactions and which disclose with reasonable accuracy at anytime the financial position of ACCA, to safeguard its assets and to take reasonable steps for the prevention and detection of fraud and other irregularities. ACCA’s Integrated Report sets out details of the business risks which ACCA faces and its performance and strategy in addressing these. During 2021-22, ACCA established strategic targets, which were agreed by Council Board, and also established measures against the Strategy to 2025 which formed the basis for developing five-year financial projections and were used to develop the 2022-23 budget. Council Board approved the 2022-23 budget in February 2022, which contained the detailed financial assumptions, allocations and targets to deliver the 2022-23 Strategic Delivery Plan. Despite the global uncertainty Council remains satisfied that ACCA has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the going concern basis continues to be adopted in preparing the financial statements. Download 0.68 Mb. Share with your friends:
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