Financial Statements For the year ended
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| Internal control Council is responsible for ensuring that a system of internal control is maintained no system can, however, provide absolute assurance against material misstatement or loss. ACCA’s strategy is determined by Council. Financial and non-financial performance is reviewed regularly against target. Regular internal audit reviews of key processes in ACCA’s offices are carried out by a combination of internal staff and external consultants. Relations with members The AGM, held annually in November or at such other time as Council determines (subject to there being not more than 15 months between AGMs), is the formal platform for communications with members. Member networks provide the opportunity for communications between ACCA and its members at a local level, throughout the world. Members are encouraged to take part in a wide range of business and social events. Council also distributes to all members an annual review of activities together with a summary of financial and other information. As in recent years the annual review will take the form of an Integrated Report. Council is responsible for the oversight and integrity of the corporate and financial information included on ACCA’s website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions. Governance structure The current structure has evolved over the years. Council continues to review regularly the roles, responsibilities and effectiveness of Council, Council Board, Regulatory Board and Committees to ensure that they remain fit for purpose. Council has established a number of committees to support it in delivery of its responsibilities to maintain the highest standards of corporate governance. At the AGM in November 2017, Council proposed a series of bye-law changes to enable future governance reforms, all of which were overwhelmingly backed by members. The first phase of these reforms was implemented in November 2019 with the creation of the Nominating and Governance Committee and a Council Board. Phase two implementation started from November 2020 with three additional places on Council. As part of phase two, ACCA’s Council will increase to 45 over a three-year period by November 2023. Association of Chartered Certified Accountants Corporate Governance Statement for the year ended 31 March 2022 Council Board The Council Board was established during the year ended 31 March 2020. It normally meets six times a year and has responsibility for the holistic oversight of the implementation of ACCA’s strategy and to support agile decision making. During the year there were six meetings which took place virtually. The members of the Council Board during the year and their attendance at meetings were: Download 0.68 Mb. Share with your friends:
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