PRESIDENT BLOG - Brendan Murtagh

Dispelling the latest myth

The recent UK Government report, which suggests that access to professions such as accountancy is becoming a closed shop for the wealthy, may come as a surprise to the thousands of people who have studied with ACCA.

We have always ensured that access to our global qualification is open, fair and transparent – and only two months ago we were highlighted as an example of good practice in the UK Government's Fair Access to Professions.

Mature students can register for the ACCA course without any formal qualifications, and those who have qualified through the Certified Accounting Technician programme can study for the full ACCA qualification and receive exemptions from their first three papers. ACCA also offers partial exemptions for qualifying accountants who hold professional qualifications in a variety of other professional areas.

Access to our qualification is open to school-leavers, women returning to a career after raising families and to those without direct access to university - as well as to graduates. Ultimately, if you have the ability and are prepared to work hard, not only will you gain a professional qualification but also have the opportunity to progress to higher qualifications and degrees via the Open University, Oxford Brookes University and Said Business School. 

I would be very interested in your views on this and whether there is more that can be done to dispel the myth that accountancy is only for the privileged few.

Raising the profile of the CFO

The latest survey by ACCA makes interesting reading, particularly for CFOs who might be wondering why their in-trays are groaning.

The research report, called The CFO's new environment - and carried out in conjunction with CFO Research Services - reveals that the economic downturn has raised the profile of CFOs, with more now involved in strategy development and risk management than they were a year ago.

Seventy percent say that the finance function receives more boardroom backing now than a year ago, with 72% finding that finance now works more closely with business units in strategic planning, and that risk management is now a priority for many CFOs.

What I thought particularly interesting was the response from one CFO in the UK, who said: 'It's not like all of a sudden the CFO's been promoted. It's that more of the organisation's activity now needs the CFO's input.'

But do we think that the CFO will stay at the heart of business planning when the situation eases?

I'd welcome your views on this.