The cost of membership

The cost of membership and the cost-of-living crisis took centre stage at the recent ACCA agm.

Outgoing ACCA President Joseph Owolabi explained that the cost of global membership will rise by “a modest” 4.9% in 2024, so from £283 to £297. He stressed this was significantly less expensive than other professional bodies. And, at just under 5%, it was lower than the forecasted rate of inflation – which is 6%. Owolabi also pointed out that the rise was less than CIMA’s 6% or ICAEW’s 8.4%!

The increase will help ACCA make the improvement it needs to make, he said, and pointed out that the plan was to offer more members the opportunity to pay in local currency.

The demise of the Oxford Brookes degree also came up. CEO Helen Brand explained the ACCA is now working on “alternative solutions”. The Oxford Brookes degree ends in May 2026, and some 35,000 students have gone through the programme. Brand said: “We are now talking to different universities worldwide to find new partners.” So there could be a good news story to come.