Helen Brand OBE, chief executive of ACCA (the Association of Chartered Certified Accountants) says:

‘ACCA welcomes today’s news of a breakthrough on the Brexit negotiations. It has always been clear that compromise would be required in order to move forward and we are pleased that this compromise appears to have been achieved.

‘Progress to phase two of the negotiations will provide much needed assurance to business that there is a desire on both the UK and EU sides to strike a deal before the end of March 2019. Today’s announcement also gives important reassurance for UK and EU citizens living and working in the UK and in Europe.

‘This is the end of the beginning, and it’s clear there’s still a long way to go. The sooner that there is a solid agreement on the nature and length of any transitional arrangement the better. With further delay employers may still put contingency plans into action.

‘ACCA will continue to monitor developments closely and ensure that the interests of our members and the wider profession are duly considered by both the UK and the EU. We shall endeavour to keep our members up-to-speed with key developments and we’ll provide practical guidance once details of a future EU-UK partnership become clearer.’

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About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

ACCA supports its 200,000 members and 486,000 students in 180 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 101 offices and centres and more than 7,200 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.

ACCA is currently introducing major innovations to its flagship qualification to ensure its members and future members continue to be the most valued, up to date and sought-after accountancy professionals globally.

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. More information is here: www.accaglobal.com