ACCA join skills minister in push to boost UK productivity

Skills minister Jacqui Smith has met with the Association of Chartered Certified Accountants (ACCA), Skills England and other professional bodies to discuss how chartered status can support government efforts to raise productivity.

Abdul Goffar, UK director at ACCA, joined representatives from the Chartered Management Institute (CMI), Skills England and 11 other chartered organisations this week. The meeting focused on how professional networks can help deliver the UK government’s industrial strategy by raising workforce skills and strengthening ethical standards.

The group said it wants to show employers, educators and workers the value of chartered status in supporting career development, improving business performance and promoting integrity.

Chartered status is associated with higher pay, with data showing an annual wage premium of £8,000 to £15,000 for early and mid-career professionals moving from non-chartered to chartered roles.

Goffar said ACCA was keen to highlight alternative entry routes into accountancy. He said: “ACCA has a powerful story to tell with 48% of ACCA’s UK students entering via a non-graduate route, demonstrating a large alternative pathway into a high-status profession.

“ACCA looks forward to carrying on this initiative demonstrating the value of chartered bodies should be seen as a key pillar to efforts to transform the UK’s workforce into a high-skill powerhouse. We are ready to work with the government to deliver on its growth mission while also improving social mobility and ensuring that increased prosperity reaches every corner of the country.”