ACCA unveils big surplus

A massive savings drive has helped the ACCA to turn a revised budgeted £8.9m deficit into a £20.3 million surplus for the year to 31 March 2021 (subject to external audit confirmation).

Ahead of the annual report ACCA has again released an ‘advanced notice’ of its strategic performance, and it makes interesting reading. The full report is out on 30 July.

ACCA explains it was assumed that the first exam session of 2020-21 would be cancelled everywhere (except China) with exam income broadly returning to normal thereafter. But, due to the ‘second wave’ impact over Q3 and Q4 it saw another £8 million of further disruption to its exam income during the year.

In the end some 595,425 exams were sat during the year, which is down on the expected 831,000, projected in pre-pandemic times. ACCA takes ownership of these figures and for the coming year it promises to run exams in as many markets as possible, bolstering capacity through online exams with remote supervision. The percentage of students passing and exam in a year to 29.3%.