If you are an ACCA practising certificate holder who is a sole practitioner or a contact for ACCA supervised firms, you should have received a communication asking you to provide details of your firm’s BOOM and to confirm if your firm provides TCSP services. This is to support ACCA member firms complying with the UK anti-money laundering regulations.
If you have not seen the communication and you are an ACCA practising certificate holder operating your own practice – or the contact person for an ACCA supervised firm – please email the AML supervisory team as soon as possible at email@example.com and they will be happy to assist you with the submission of the required details.
The Pacesetters – Xero publishes first book
The Pacesetters is the story of how the UK’s top accounting practices used cloud accounting software to become more efficient, find more time, help more clients, and make more money – and how you can do it too.
It offers insight from some of the UK’s progressive accounting firms, including those run by Will Farnell FCCA, Alex Falcon Huerta FCCA and Sharon Pocock FCCA. It also draws from Xero research which suggests online accounting firms run more efficiently and experience better growth. The book looks at how these firms got ready for MTD, transformed their businesses, found more time, and thrilled clients with online accounting – and how you can do it too.
It’s told in their own words, with in-depth case studies, interviews, best practice, and deep dives into Xero statistics to pair evidence with anecdote. Every story is paired with action items drawn from real experience, to help you take your own firm on its own cloud journey, find efficiencies and build success right from the start.
You can read a review of the book over on Accounting Web, and it’s available to purchase in paperback and Kindle formats on Amazon.
Recognising award-winning ACCA firms and members
It was a night of celebration for several ACCA members who saw their firms carry off several awards at the Accounting Excellence Awards last night (20 September), including:
Innovative Firm of the Year - won by The Accountancy Cloud, whose CEO is Wesley Rashid FCCA (pictured below, top)
Medium Practice of the Year - won by Green & Co, whose directors include Nick Park FCCA and Barrie Kenyon FCCA (pictured below, bottom)
We are looking forward to meeting many of our members and firms at the British Accountancy Awards next week. Good luck to everyone who is short-listed.
ACCA at the Labour and Conservative party conferences
ACCA is attending both the Labour Party and Conservative Party political conferences 2018. This allows us an opportunity to engage with and influence those who define the legislation and policies that impact so closely on our members and their clients across the UK.
Our representatives will meet with politicians and work with partners to host a series of roundtables and workshops which allow us to represent the interests of accountants. Using our research and thought leadership content provides a great opportunity to place ACCA at heart of several economic and social debates. Highlights will include:
(Labour): Bloomberg Labour Party Business Lunch – International finance and business discussion with Keir Starmer, Shadow Brexit Secretary, and Helen Brand, Chief Executive, ACCA
(Labour): New Statesman business reception with John McDonnell, Shadow Chancellor, and ACCA representatives
(Conservative): Prospect magazine – Higher education commission panel event with Damian Hinds MP, Secretary of State for Education, and Claire Bennison, Head of ACCA UK
(Conservative): Enterprise Forum and business reception – Rt Hon Philip Hammond MP, Chancellor of the Exchequer, and ACCA representatives.
Do you know anyone looking to obtain an ACCA practising certificate and audit qualification?
If any of your staff or colleagues are planning to obtain an ACCA practising certificate and audit qualification, there are some important changes coming to ACCA’s exams which could affect them.
From September 2018 Strategic Professional replaces the previous Professional level exams. Anyone applying for an ACCA practising certificate and audit qualification must pass the UK or Irish variants of Strategic Business Reporting and Advanced Audit and Assurance. Applicants were previously required to have passed the UK or Irish variants of P2 Corporate Reporting and P7 Advanced Audit and Assurance.
The proposals set out in ACCA’s Market Transparency Action Plan implement these recommendations, in particular increasing the transparency of information about service features, quality and price. The Plan sets out the actions that we currently undertake and those that we are proposing to implement, both initially and over the longer term, to enable our regulated firms to deliver the market transparency requirements.
ACCA has launched a consultation on the Plan and we welcome your feedback. We would very much like to hear the views of those involved with the provision of legal services. We are also keen to hear from other practising firms and other interested parties. The consultation document, including the Plan and consultation questions, may be viewed on ACCA's Legal Services website.
The consultation will be open for 12 weeks and the closing date for comments to be submitted is 9 December 2018. Please email your response to Standards.Department@accaglobal.com
Any questions relating to the consultation process should also be sent to this email address.
Accounting Excellence Insights 2018
Each year the AccountingWEB team pulls data from hundreds of Accounting Excellence awards entries to put together a snapshot of the current state of the profession. Join a live, interactive session at 11:00 on Thursday 27 September for a look at some of the key trends and assess what they mean for the future direction of accountancy.
We will also highlight some of the obstacles and issues thrown up by these changes, and look at what our experts did and are doing to overcome them, and how they became cloud champions. Key trends emerging from the awards data include:
wholesale cloud adoption
uptick in data collection tools
apps: best practice
referrals and business advisory
forecasting and planning tools.
At the end of the session there will also be a Q&A, where you can submit questions for the panellists via a chat-box.
Tom Herbert – Editor, AccountingWEB
Grant Smith – Business Services Partner, Armstrong Watson
Sharon Pocock FCCA – MD and Chief Innovator, Kinder Pocock
Damon Anderson – Director of Partner, Xero
Browse our bi-monthly newsletter to catch up on ACCA’s recent engagement with government and those involved in creating legislation and policies for business. Highlights include a members’ visit to Parliament, the latest on the Chequers deal and a meeting with the chief secretary to the Treasury.