ACCA has promised that it will “seek to run exams wherever and however we can, so that future members carry on progressing in their journey to membership, and we’ll deliver the innovations we need to do this at pace”.
As part of a strategic performance update president Jenny Gu and CEO Helen Brand said it also wants to provide future members, members and partners with “confidence in ACCA’s ability to carry on developing and operating effectively while the impacts of the Covid-19 outbreak are being felt”.
So, where did ACCA stand on 31 March 2020? It now has some 227,332 members and 544,446 students and affiliates. Subject to an audit, ACCA is reporting a net operating surplus for the year of £2.3m.
ACCA admits that while it entered 2019-20 in a healthy position, it nevertheless felt significant revenue impacts from the cancellation of exams in March and June in many countries around the world.
It said it has now repurposed activity to focus on additional digital engagement and delivery, and delayed strategic investments that are not integral to areas of critical strategic focus for the coming year.
That means it can prepare to offer an exam sitting in July in markets where centres can operate and accelerate its plans for remote exams supervision, if needed.
In terms of people costs, salaries have been frozen, recruitment paused, and bonus payments in respect of 2019-20 performance have been removed.
*More information will be available in the integrated report published on 31 July 2020.