Association Of Chartered Certified Accountants Research Articles

The Contribution of Basic Accounting Qualification in Producing Job-Ready Workforce

The quality of contemporary accounting graduates has often been touted as failing to meet the requirements of the dynamically changing accountancy profession. In particular, the ability of accountancy programs to produce competent accounting graduates has been highly debated by researchers and academicians over the past decade. This paper aims to expand the extant literature on accounting education by evaluating the degree of the contemporary relevance of the Certified Accounting Technician (CAT) program’s syllabus structure in producing job-ready accounting graduates, as well as analyzing the credibility of the CAT program through the lens of various stakeholders, within the Malaysian context. The relatively static nature of the CAT program’s syllabus structure over the past six years lent itself as the motive for undertaking this study. The data samples of the study comprise CAT students, graduates, lecturers, industry practitioners, and the Malaysian chapter of the Association of Chartered Certified Accountants (ACCA). Results from the study indicate that CAT students are technically adept but lack practical proficiency, and that there is scope to improve the credibility of the CAT program among Malaysian accounting employers. Keywords: CAT, job-ready, accounting graduates

THE IMPACT OF TAX AWARENESS AND TAX KNOWLEDGE ON TAX NON-COMPLIANCE FROM THE PERSPECTIVE OF POTENTIAL TAXPAYERS

Taxpayer Non-Compliance may cause the failure of not achieving the tax revenue target in Malaysia. One of the groups of taxpayers is the individual taxpayer. Thus, the Malaysian government has worked on some strategies to optimize the tax collection from this group. Regarding this matter, the researcher is interested in studying the impact of tax awareness and tax knowledge on taxpayer non-compliance among potential taxpayers. The theory applied in this research is the Theory of Planned Behaviour (TPB). This study used a survey method among accounting background final year students of the Bachelor of Accountancy and Association of Chartered Certified Accountants (ACCA) program at Universiti Poly-Tech Malaysia Kuala Lumpur (UPTM). The sampling method used was proportional random sampling and the data collected were analyzed using Statistical Package for the Social Sciences (SPSS). The results show that there is a negative relationship between tax awareness and tax knowledge towards tax non-compliance. This means that if these taxpayers possess a high level of tax awareness and knowledge, the possibility of tax non-compliance is lower. Therefore, in this study, the value added to the tax research is that tax education should be implemented for tertiary students, regardless of whether they come from an accounting or non-accounting background. This is because tertiary students who are also future taxpayers will have more awareness of the importance of tax as they have gained tax knowledge from the formal tax education delivered during their study at the tertiary level.

Akredytacja ACCA w Polsce – perspektywa edukatorów rachunkowości

Organizations certifying accountants, such as the Association of Chartered Certified Accountants (ACCA), play an important role in strengthening their professional status. Being accredited by them has recently become the goal of many institutions which offer accounting programs. Our paper aims to investigate the impact of ACCA accreditation on the accounting education in Poland, as well as to identify the important aspects of the collaboration between ACCA and accounting educators. The findings are based on a survey conducted among 50 faculty members from seven Polish universities. According to the respondents the accreditation increases the prestige of the offered teaching programs and has an important impact on the organization of exams taken by the students participating in accredited courses. The ACCA engagement in collaboration with universities consists mostly in promotion of the accredited programs. Despite some limitation the study provides new insights into the problem of accounting education in the accreditation processes context

Approaches to learning IFRS by Chinese accounting students

The teaching and learning of International Financial Reporting Standards (IFRS) are important for global accounting convergence. In China, many accounting students learn IFRS through education programs of the Association of Chartered Certified Accountants (ACCA). Based on a survey of 402 Chinese undergraduates registered as ACCA students, we investigate their study approaches and performance in learning IFRS. Study approaches are identified as the deep and surface ones based on the Revised Two-factor Study Process Questionnaire developed by Biggs, Kember, and Leung (2001). Results show that the deep approach is adopted more by Chinese students at the ACCA’s professional level, with better adaptability and longer preparation time. We also find that the deep approach contributes to better learning performance in ACCA’s global exams at both the fundamentals and professional levels. The findings are meaningful to IFRS education in non-English-speaking countries.

Hidden foreign trade and corruption on customers

According to the Association of Chartered Certified Accountants (ACCA), the volume of the "shadow" economy in Ukraine is 1.1 trillion hryvnias or 45.1 % of the gross domestic product. Estimates of the Federation of Employers of Ukraine show that only 50 % of payments to the state budget comes from the clearance of goods, while the rest comprise a corruption component of 40 billion UAH for a year. Much of the large companies move non-declared goods across the state border and do not pay taxes. However, at the official level in Ukraine, it is still not accepted to talk about the servicing of the shadow foreign trade by the customs administration and the collection of corrupt rents from illegal trade in the state.Understanding the essence of the problem gives grounds to assert that the corruption risks in the work of customs are laid down in imperfect customs legislation, high tariff rates of duties and taxes, discrete powers of customs inspectors, the regime of customs procedures in the customs control zone, low level of their automation and physical contact of declarants from customs officers. In the customs case, the main type of corruption is bribery and abuse of influence related to the assistance of illegal and criminal activity in the foreign economic sphere. Subjects of foreign economic activity reduce costs and receive revenues through customs fraud or smuggling. Without corruption, this activity is impossible. On the illegal movement of goods and vehicles, smuggling and counterfeiting through the customs border, a criminal corruption business was created for all bodies and services that carry out various types of state control and law enforcement activities in the customs sphere.The most profitable are corruption schemes related to the illegal import / export of three groups of highly liquid products: tobacco products, counterfeit IT products, petroleum products, cars with foreign registration. For an independent study, illegal migration through the customs border of amber and wood, the manipulation of exports of grain and other highly liquid products deserve.Summarizing, we draw the following conclusions. Customs corruption is based on providing shadow foreign trade and covering economic crime on a transnational or transboundary scale. It is in violation of customs legislation by both parties in customs matters for the purpose of illegal enrichment. In corruption practices, all bodies and services that provide state control over the movement of goods through the customs border of Ukraine and carry out law-enforcement activities in this area participate. The level of corruption in the sphere of foreign economic activity depends on the volume of illegal export-import operations with raw materials and highly liquid products, as well as the ratio of official taxes and the cost of corruption services to economic entities. It was clarified that in parallel with "centralized corruption" in customs authorities there is "competitive corruption" between regional customs and their structural divisions for providing corruption services at lower prices. Measures to prevent corruption and crime should be aimed at reducing the profitability of shadow foreign trade by liberalizing the tax burden at the same time while strengthening control over transfer pricing, including the customs service into an integrated security system throughout the supply chain, implementing common customs control, managing risky operations.

Prior Academic Performance and Passing Professional Accounting Examinations: Empirical Evidence from Malaysia

Objective - The purpose of this research is to examine the relationship between prior academic performances at the secondary school level with passing professional accounting examinations. Methodology/Technique - Data for this research was extracted from the database of the Department of Professional Accounting Studies, Faculty of Accountancy, Universiti Teknologi MARA. University Teknologi MARA or UiTM is the only local university offering professional accounting courses by the Association of Chartered Certified Accountants (ACCA) and is a Platinum Approved Learning Partner with ACCA. Data was extracted on the students' success in completing ACCA, together with results of the secondary school examination Sijil Pelajaran Malaysia (SPM). The population used in this study included students who had either successfully completed or did not complete their professional studies at the university. The sample consisted of 780 students, of which 400 had not successfully graduated and 380 had successfully graduated. Data from 780 students were used for the statistical analysis. Findings - The study found that for successfully completion of professional accounting examinations, receiving distinction in Additional Mathematics during SPM, scoring a maximum number of A's, and starting from the science stream were highly significant. Novelty - This research is significant as it contributes to the literature on professional accounting education. It may be used to review prerequisites for entering professional accounting courses, which would help increase the number of professional accountants in Malaysia. Type of Paper: Empirical Keywords: Professional Accounting Qualifications; Success; Secondary School Performance; Examinations; English; Mathematics; Science; Malaysia JEL Classification: M30, M31, M41.

Information and analytical support of integrated reporting: evaluation of the stakeholders’ influence on the change of the created value

Information and analytical support of integrated reporting needs constant improvement, depending on the growing needs of the stakeholders. The main objective of integrated reporting is to explain how the organization creates value over time. The stakeholders play a key role in the process of value creation. Firms accumulate stakeholders’ resources and transform them, thereby meeting the needs of the parties and achieving their own goals. Building relationships with their stakeholders, organization establishes impact leverage to create value. Thus, the created value depends on the successful interaction with stakeholders. Therefore, the article is devoted to problem of information and analytical support of integrated reporting to the evaluation of created value, which is influenced by the stakeholders. The article emphasizes that an integrated quantitative measurement of value change is a complex and unresolved currently task. Integrated evaluation - a systematic analytical study, in the course of which is given summarizing evaluation of the effectiveness company. Such assessment activity is important and has a multi-purpose orientation under market conditions. The annual reports of companies are practically no integrated indicators characterizing created value. The author believes that integrated reporting should become a platform for the realization of the possibility of an integrated assessment of the created value. The results of the study are the development the methods of computation the “integrated index overall impact by the stakeholders on the company’s created value” and its testing on the example of the annual reports of the organization, which discloses information on the level of international best practice. The methodology of the research bases on such methods as analysis, synthesis, abstraction, simulation, comprehensive approach to knowledge, logical methods of research. Private indicators for the computation the integrated index are proposed by key stakeholder groups: shareholders, investors, customers, suppliers, employees, public authorities, the region’s population, the scientific community, educational institutions, media. The selection of these indicators is based on a research of the experience of the integrated reporting formation in Russia, the data international reference documents prepared by such leading organizations as International Integrated Reporting Council (IIRC), Association of Chartered Certified Accountants (ACCA), Global Reporting Initiative (GRI), and The Prince’s Accounting for Sustainability Project (A4S). The main outcome of the study is to confirm the competence of the proposed integrated index for the purpose of integrated evaluation of stakeholders’ influence on the change of the created value with reflection of the contribution of each group. Using the planned values of the original data one can predict the direction of change of the integrated index, which will make timely management decisions aimed at increasing the value creation.

Evaluating the Adequacy of Water-Related Reporting and Disclosure by High-Impact users in South Africa

South Africa is facing a water crisis in terms of the scarcity and the quality of its water. Considering this water-constrained future, it is evident that companies in South Africa should pay attention to the pristine management and reporting of this scarce resource. The purpose of this paper is to evaluate the reporting and disclosure requirements of water of Socially Responsible Investment-indexed (SRI-indexed) JSE-listed companies. The disclosure requirements of integrated reporting, King III, the Global Reporting Initiative (GRI) and the Association of Chartered Certified Accountants (ACCA) provided the theoretical background. Content analysis was used as the research method to analyse the integrated reports of high-impact users. The findings of the study include that most of the companies illustrate commitment towards water stewardship by reporting on water-related aspects. A more comprehensive standardised set of guidelines to report on water per sector could add value to the reporting practices of companies.

Creating Value Through Governance - Towards a New Accountability: Response to ACCA Consultation

In February 2014 the Association of Chartered Certified Accountants (ACCA) published a consultation paper entitled "Creating value through governance - towards a new accountability". The consultation was open for comment until 31 August 2014 and following the consultation period the ACCA intends to publish an updated paper on the subject of governance and value creation. This consultation paper forms part of ACCA's investigation to examine whether existing governance and risk management frameworks are "fit for purpose". It asks whether corporate governance in practice, is helping business to create value or whether something has gone wrong. As part of this initiative the ACCA have stated the following: "Corporate governance is vital to societies that depend on business to create economic wellbeing ... Achieving good corporate governance is complex: it involves economics, politics and fundamental aspects of human nature as well as business and markets ... Ultimately, governance is about how to make good decisions ... Present approaches have not ensured that companies focus on, and succeed in, creating long term sustainable value." This submission provides comments to address the Corporate Governance challenge from two distinct perspectives: 1. General Observations: This section addresses the following issues in the context of Corporate Governance: - The Impact of Culture in Business and Society - The Role of Ethics and Moral Values in Corporate Behaviour - Enforcing Accountability and Restoring Trust - The Stakeholder Ecosystem - Understanding the Nature of Sustainable Value - The Value Preservation Imperative - The Challenge of Improving Corporate Governance 2. Response to Specific Questions: This section provides feedback in relation to the specific consultation questions outlined by the ACCA in the consultation paper. The comments included in this submission are intended to be a constructive attempt to positively contribute to this ACCA Corporate Governance inquiry in the hope that it will lead to a better understanding of the problems and also some solutions.

Sustainable Business Reporting in New Zealand

AbstractThe number of sustainable business reports has grown over recent years, but the quality of the reports is often poor. This paper examines what should appear in a good basic sustainability report. This is much less than what has been suggested by GRI, A4S, and similar bodies providing comprehensive advice. Waikato Management School (WMS) provides leadership in sustainable business practices. In New Zealand, both the Association of Chartered Certified Accountants (ACCA) and the New Zealand Institute of Chartered Accountants (NZICA) provide annual awards for the best sustainability reports. WMS has a member on each of the judging panels and it provides further help by creating a short list of possible award winners to the judges of the ACCA competition. The NZICA judges create a shortlist for themselves. In 2011, a total of 10 organisations appeared on the two shortlists combined because they were considered amongst the best sustainability reports entered for the awards. This paper describes what the minimal requirements of a reasonable sustainable report should be. It then analyses the contents of each of the shortlisted reports to determine how well these leading sustainability reports measure up against the WMS minimal criteria.

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An Analytical Assessment of Assurance Practices in Social Environmental and Sustainable Reporting in the United Kingdom and North America

The objective of this study is to continue and extend previous studies in evaluating the extent to which current assurance practices promote transparency and accountability to stakeholders. This is carried out by conducting an empirical analysis of the content of assurance statements accompanying a sample of non-financial reports short-listed for the Association of Chartered Certified Accountants (ACCA) U.K. Sustainability Reporting Award and the CERES-ACCA Sustainability Reporting Award from 2006 to 2008. The findings of this study show that several new trends in social, environmental and sustainability assurance can be observed. Firstly, accountants tend to limit their intended readership to management only and state a disclaimer for other potential readers. This diminishes the transparency and stakeholder accountability of the reporting. Secondly, there is even stronger evidence that management has the control over the scope of the assurance engagement and over what information gets publicly disclosed. The evidence is shown in the fact that in many assurance statements prepared by accountants, only selected parts of the reports are being assured, with no indication that it is not management who selects these parts. Finally, the recent practices of assurance engagements represented by the sample in this study have not improved the transparency and stakeholder accountability of social, environmental and sustainable reporting. Similar to the two previous studies, we assert that a generally accepted standard is needed to promote assurance statements that add meaningful values to the reliability of social, environmental and sustainability reporting.

Adoption of IAS 19R by Europe's premier listed companies: Corridor approach versus full recognition: Summary of an ACCA research monograph

This report provides a summary of a research monograph sponsored by the Association of Chartered Certified Accountants (ACCA) [Fasshauer, J., Glaum, M., & Street, D. L. (2008). Adoption of IAS 19R by Europe's premier listed companies: Corridor approach versus full recognition. An ACCA research report, London] and is based on our in-depth analysis of the defined benefit pension plan disclosures provided in the year 2005 by companies constituting the premier segments of 20 European exchanges. Most importantly, the study identifies the method these companies selected under International Accounting Standard (IAS) 19 for the recognition of actuarial gains/losses, provides insight into factors affecting the policy choice between the methods allowed under IAS 19 for the recognition of actuarial gains/losses, and assesses the impact on profit and loss (P&L) and the balance sheet of using the new IAS 19 option of full recognition through the Statement of Recognized Gains and Losses (SORIE), in contrast to the traditional corridor approach. We also benchmark key pension assumptions against relevant country or industry averages. As accounting for defined benefit pension plans continues to evolve with the amendment of IAS 19, the recent issuance of SFAS 158 in the U.S., the release of The Financial Reporting of Pensions in Europe, and most notably the release of Preliminary Views on Amendments to IAS 19 Employee Benefits by the IASB, our research provides timely empirical evidence regarding important issues to be addressed in the IASB's current retirement benefits project.

DEVELOPING WHOLE OF GOVERNMENT ACCOUNTING IN THE UK: GRAND CLAIMS, PRACTICAL COMPLEXITIES AND A SUGGESTED FUTURE RESEARCH AGENDA

Financial Accountability & ManagementVolume 23, Issue 1 p. 27-54 DEVELOPING WHOLE OF GOVERNMENT ACCOUNTING IN THE UK: GRAND CLAIMS, PRACTICAL COMPLEXITIES AND A SUGGESTED FUTURE RESEARCH AGENDA Danny S.L. Chow, Danny S.L. Chow Birkbeck College, University of LondonSearch for more papers by this authorChristopher Humphrey, Christopher Humphrey Manchester Business School, University of ManchesterSearch for more papers by this authorJodie Moll, Jodie Moll Manchester Business School, University of Manchester They would like to thank the following people for their helpful comments on earlier drafts of this paper: the anonymous referees; Irvine Lapsley; Fabrizio Panozzo; Sue Newberry; Jean Shaoul; Andy Wynne; Howard Mellett; David Heald; Kieran Rix; and seminar participants at the 9th and 10th Biennial CIGAR conferences on International Trends and Experiences in Government Accounting (Bodø, Norway, June 2003, and Poitiers, France, May 2005), the 27th European Accounting Association Conference, Prague, April 2004 and at the European Academy of Management Conference (EURAM), Munich, May 2005. The preparation of this paper has also been facilitated by the financial support provided by the Association of Chartered Certified Accountants (ACCA).Search for more papers by this author Danny S.L. Chow, Danny S.L. Chow Birkbeck College, University of LondonSearch for more papers by this authorChristopher Humphrey, Christopher Humphrey Manchester Business School, University of ManchesterSearch for more papers by this authorJodie Moll, Jodie Moll Manchester Business School, University of Manchester They would like to thank the following people for their helpful comments on earlier drafts of this paper: the anonymous referees; Irvine Lapsley; Fabrizio Panozzo; Sue Newberry; Jean Shaoul; Andy Wynne; Howard Mellett; David Heald; Kieran Rix; and seminar participants at the 9th and 10th Biennial CIGAR conferences on International Trends and Experiences in Government Accounting (Bodø, Norway, June 2003, and Poitiers, France, May 2005), the 27th European Accounting Association Conference, Prague, April 2004 and at the European Academy of Management Conference (EURAM), Munich, May 2005. The preparation of this paper has also been facilitated by the financial support provided by the Association of Chartered Certified Accountants (ACCA).Search for more papers by this author First published: 22 January 2007 https://doi.org/10.1111/j.1468-0408.2007.00418.xCitations: 63 Address for correspondence: Danny S.L. Chow, School of Management, Birkbeck College, University of London, Malet Street, London WC1E 7HX, UK.e-mail: d.chow@bbk.ac.uk Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat Citing Literature Volume23, Issue1February 2007Pages 27-54 RelatedInformation

Second attempt at localising imperial accountancy: The case of the Institute of Chartered Accountants of Jamaica (ICAJ) (1970s–1980s)

This paper essentially examines the evolving dynamics of accountancy in former colonies. In this case, the author analyses the situation in Jamaica, particularly, since the Institute of Chartered Accountants of Jamaica (ICAJ) first attempt at localisation in the 1950s to early 1970s turned out to be a failure. The paper argues that this was due to the desire of the influential minority members of the ICAJ and the UK-based Association of Chartered Certified Accountants (ACCA) to continue to enjoy their monopoly of accountancy market in Jamaica. Nonetheless, there was concerted effort to put in place an independent profession that would positively respond to the socio-political and economic problems of Jamaica. These efforts continued to be met with resistance due to the nature of the old colonial relationship with the ACCA which significantly affected the failure of the first attempt at localising the accountancy profession in Jamaica. Internally, the influential and powerful minority members of the profession could not be ignored as they preferred to remain loyal to the ACCA. On the other hand, developments in the UK led the ACCA to consider the abandonment of its dominating role in the ICAJ. This in effect, would have forced the ICAJ to deal with the independence in a complete and less ambivalent manner. The paper examines the developments which took place in the aforementioned context and adopts argues that these developments cannot be isolated or examined without situating them in the largely framework of capitalist and (neo)colonial processes, which govern these internal and external complexities. Based on the outcome of this investigation, the paper reinforces the previous conclusion that, the ability of the ICAJ to make fundamental changes to the status quo in its imperial Accountancy profession inherited from the UK-based ACCA continues to be constrained by these internal and external influences.

Assurance statement practice in environmental, social and sustainability reporting: a critical evaluation

This paper reports on a detailed critical analysis of assurance statements appearing in environmental, social and ‘sustainability’ reports short-listed for the 2002 Association of Chartered Certified Accountants (ACCA) UK and European Sustainability Reporting Awards scheme. Drawing on an evaluative framework centrally informed by the recently issued AccountAbility, Fédération des Experts Comptables Européens (FEE) and Global Reporting Initiative (GRI) guidelines on assurance, we assess the extent to which current assurance practice enhances transparency and accountability to organisational stakeholders. Our analysis raises question-marks regarding the independence of the assurance exercise, as well as revealing a large degree of management control over the assurance process. The latter is evidenced by a reluctance to address statements to specific stakeholder constituencies and a general absence of stakeholder participation in assurance processes. Distinct approaches to assurance among accountant and consultant assurors are highlighted, with the former primarily adopting a cautious, limited approach aimed at providing low assurance levels. While consultant assurors take a more evaluative approach, and appear to provide higher level assurance, their focus on aiding corporate strategic direction potentially blurs their independence. We contend that their apparent intertwining of the concepts of ‘accountability’ and ‘value added’ needs careful scrutiny as this may reflect an ultimate accountability to corporate management as opposed to other stakeholders. The paper concludes with some recommendations for future research involving direct engagements with assurance providers.

Accountability of the accountancy bodies: the peculiarities of a British accountancy body

The UK accountancy bodies, enjoying Royal Charters, exercise considerable social power. They act as statutory regulators for the auditing and the insolvency sector. Their regulatory activities (e.g. disciplining members) have a potential to blemish the name and reputation of their members and can bring the accountancy bodies into dispute with their members. In liberal societies, a common understanding is that the aggrieved individuals may be able to take legal action to correct perceived injustices. However, as this paper shows, the Association of Chartered Certified Accountants (ACCA) has asserted, and the courts accepted that they themselves have no powers to intervene in the internal affairs of the ACCA. Such powers, the ACCA established, are reserved for an official known as the ‘Visitor’, who may be appointed by the Lord Chancellor's Department on behalf of the Sovereign/Crown. The ACCA has relied upon this legal precedent, which it helped to create, to prevent an aggrieved member from airing his grievances in courts. However, eventually the legal precedent became problematic for the ACCA, as it had the potential to directly enmesh the state in the governance of the ACCA. At this point, the ACCA sought reversal of the legal precedent. The case illuminates the politics of accountability and shows the manner in which one of the UK accountancy bodies mobilised its resources to enact a very particular kind of accountability.

English Language International Accounting Certification in the CIS, Eastern and Central Europe

Although each of the countries of the former Soviet Union (CIS), as well as the transition economies in Eastern and Central Europe all have their own national accounting and auditing certifications, their certifications lack credibility in international capital markets, not to mention at home. International investors do not place much confidence in their certifications because they are not familiar with them and because they have neither the time nor the inclination to become familiar with them. Their quality is also suspect, since many of them do not meet the standards of certifications in the more advanced market economies. The market is attempting to fill this vacuum by introducing accounting certifications that have already stood the test of time. The most popular international certification is offered by the Association of Chartered Certified Accountants (ACCA). Until a few years ago, this certification was the only truly international certification. However, in recent years a few other certifications have started to become internationally recognized. This paper discusses the reasons for the popularity of international certifications, the reasons why resistance to them has been encountered, and reports on the status of the various internationally recognized accounting certifications in the former Soviet Union (CIS), Eastern and Central Europe.

John Mohan and Martin Gorsky, Don't Look Back? Voluntary and charitable finance of hospitals in Britain, past and present, Office of Health Economics & Association of Chartered Certified Accountants, 2001, 119 pp., £10.00 pbk.

John Mohan and Martin Gorsky, <i>Don't Look Back? Voluntary and charitable finance of hospitals in Britain, past and present</i>, Office of Health Economics &amp; Association of Chartered Certified Accountants, 2001, 119 pp., £10.00 pbk.