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ACCA, the global accountancy body, has released a new five-point policy plan titled 'Accounting for a better world: An ACCA policy prospectus for the UK'. The plan aims to strengthen the UK's position on sustainable business, global trade, AI, and talent retention. Key areas for policy reform include tax systems, audit, corporate governance, and the public sector. ACCA's plan covers creating a thriving economy, promoting a sustainable and just transition, creating a framework for growth, promoting ethical and responsible use of AI, and supporting the development of an ethically motivated, expertly trained, educated accountancy profession. ACCA emphasizes the importance of trusted regulations and institutions to capitalize on the UK's growth potential. The organization calls for urgent reform to the corporate governance landscape and supports addressing ongoing late payment issues, mutual recognition of professional qualifications, and simplification of the UK tax system. ACCA's chief executive, Helen Brand, stressed the importance of the finance profession in achieving thriving international trade, sustainable economic growth, and harmonious commercial relations. Susan Love, strategic engagement lead for Scotland, ACCA UK, highlighted the role of accountants in improving UK business and providing valuable insights. ACCA's plan is aimed at UK policy makers, government officials, business advisers, financial institutions, public sector bodies, and accountancy practices to lay a firm foundation for the UK economy.
