Lay members provide the key to rigorous oversight
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People from all walks of life are serving as champions of the public interest on ACCA’s crucial regulatory group.
Non-accountants now form a majority on the influential Regulatory Board, which oversees ACCA qualifications and exams, continuing professional development, compliance with legal and industry standards, as well as complaints and disciplinary matters.
The Board’s new chair is Lucy Winskell OBE, a lawyer by background and now pro vice -chancellor of Northumbria University, and chair of the North East England Chamber of Commerce.
Other lay members bring expertise from the worlds of broadcasting, criminal law, engineering, dentistry, the stage, the police and midwifery.
In ACCA’s Report on Regulation 2020, Ms Winskell said that lay members played a vital role in ACCA by bringing a breadth of experience and ensuring that the interests of the public remained central to its work.
She said: ‘We of course live in very unusual and challenging times where the regulatory landscape is fast moving and where the uncertainties and complexities have been compounded by the impact of the Covid-19 pandemic.
‘The Board has kept abreast of the extensive actions ACCA is taking to mitigate the impacts of Covid-19 on its regulatory arrangements, including the ACCA Qualification and examinations, with a view to safeguarding their integrity, rigour and security.’
Maggie McGhee ACCA’s executive director – governance said that the work of lay members was crucial in promoting ACCA’s status as a body that is trusted and respected by industry partners, political groups and the general public.
She said: ‘Our overall vision that we are seeking to achieve remains to be Number 1 in developing the accountancy profession the world needs. In response to the issues of trust in the profession and the responsibility organisations have for meeting wider societal needs, we have emphasised, through our purpose and our values, the importance of being seen to be a force for good.
‘Our commitment to regulatory excellence is global and we support regulatory developments across the many markets we are in. During 2019, ACCA provided support to other professional bodies and regulators in Afghanistan, Bangladesh, the Caribbean, China, Cyprus, Ethiopia, Kazakhstan, Kyrgyzstan, Myanmar, Pakistan and the Ukraine.’
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