ACCA chief calls on financial professionals to support Welsh economy and society

Finance professionals in Wales are well-placed to support the country’s business, public sector and third sector in creating long-term prosperity and a sustainable, inclusive society.

ACCA, the world’s leading accountancy body, and its members have had a longstanding role in working with organisations in every part of Wales, navigating challenges and dealing with rapidly changing competitive landscapes.

Helen Brand OBE, ACCA’s chief executive’s recent visit to Wales underlined the strong ties that financial professionals have with organisations including universities, public institutions, the finance sector and entrepreneurial business. ACCA has over 3,600 members in Wales – an increase of over 1,000 over the last 10 years – and currently there are over 2,200 ACCA students registered in Wales. Members work across industry, public practice, public sector and in financial services.

Working with a range of partners – including Chambers Wales South East, South West and Mid, Menzies LLP, the NHS Wales Finance Academy, University of South Wales, PureCyber and the SME Net Zero Taskforce alongside NatWest, BITC, FSB, the British Business Bank, Business Wales and Cynnal Cymru – ensures that ACCA is at the heart of the community driving Wales forward.

Helen Brand OBE told an audience at the University of South Wales campus in Newport to celebrate the 50 year partnership with ACCA that: “The role of finance professionals has expanded enormously to match the new needs of modern business. The explosion in digital technology, and the growing rise in demand for skills linked with sustainability, have seen a new breed of accountant emerge. The ACCA qualification equips the current and future generations of accountants with the skills they need to flourish in this new world and to support the businesses and organisations in Wales and beyond.”

ACCA also publishes cutting edge research on emerging issues that impact all sectors of the economy such as Artificial Intelligence and sustainability reporting. It also works with members and partners to understand the challenges facing businesses in all sectors, to identify solutions and to provide organisations with the skills, support and knowledge they need to prosper.

Soon to be published ACCA Tracker research conducted among ACCA members across the UK -including Wales – found that:

• Over half (53%) believe increased interest costs have negatively affected their organisation’s and/or their clients’ growth or investment plans.
• Only 29% believe the prospects for the UK economy are positive over the next 12 months.

Helen Brand told a financial sector roundtable held in Cardiff: “ACCA is proud of its track record in Wales, but we are determined to do more, to meet current challenges and take advantage of opportunities. We want ACCA members to be at the heart of driving greater corporate accountability and responsibility, and supporting businesses and organisations of all sizes and in all sectors across Wales.”