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Embracing the full breadth of the economy (2 of 2)
Pathways
In 2006 the Institute introduced a Pathways initiative aimed at encouraging finance professionals, who have qualified with the other Consultative Committee of Accountancy Bodies (CCAB) and who can demonstrate relevant industry expertise, to take an examination of experience in order to qualify for Institute membership. In this way we are able to widen accessibility to Institute membership whilst retaining our commitment to the highest quality standards.
Increasing confidence
Our quarterly Business Confidence Monitor has gone from strength to strength and is now recognised as an accurate barometer of business thinking by both regional and national government and the Bank of England. The Monitor underscores the reach of the profession into the UK economy and provides an accurate measure of business and economic confidence. In parallel our annual enterprise survey is widely regarded by government and industry as a snapshot of the health of the UK economy which captures the challenges facing small and medium size enterprises.
A powerful presence in Westminster
In 2006 the Institute established a Parliamentary Accounting, Business and Finance Group which aims to bring together parliamentarians with leading business stakeholders to discuss and debate policy issues likely to impact upon industry and the profession. The group already has an active membership and to date has explored issues as diverse as financial literacy and the need for finance professionals within Whitehall.
Helping government to deliver financial literacy
Recognising the need to improve financial literacy amongst young people, we worked together with the Personal Finance and Education Group (PFEG) to pilot a new scheme to help deliver Learning Money Matters, a key plank of the government’s financial capability strategy. The scheme provides an online learning programme and database for our members who partner with teachers across the state secondary sector and provide vital help and support for the teaching staff tasked with raising awareness of financial literacy amongst their students. The results of these pilot projects will be assessed in 2007 with a view to wider rollout.
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