Policy paper Climbing out of the Credit CrunchAbout ACCA ACCA (the Association of Chartered Certified
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AbstractAccountants) is the global body for professional accountants. We aim to offer 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. We support our 122,000 members and 325,000 students throughout their careers, providing services through a network of 80 offices and centres. Our global infrastructure means that exams and support are delivered – and reputation and influence developed – at a local level, directly benefiting stakeholders wherever they are based, or plan to move to, in pursuit of new career opportunities. Our focus is on professional values, ethics, and governance, and we deliver valueadded services through our global accountancy partnerships, working closely with multinational and small entities to promote global standards and support. We are now more than a year into the ‘credit crunch’. An issue which began in one relatively obscure sector of the US housing market has unfolded over the last 12 months into a widespread credit and liquidity crisis which, combined with soaring commodity prices, appears to threaten a global slowdown. While there is general agreement on what has happened, there is far less on why it has occurred and it seems that there is still much to learn about market liquidity. We use our expertise and experience to work with governments, donor agencies and professional bodies to develop the global accountancy profession and to advance the public interest. Our reputation is grounded in over 100 years of providing world-class accounting and finance qualifications. We champion opportunity, diversity and integrity, and our long traditions are complemented by modern thinking, backed by a diverse, global membership. By promoting our global standards, and supporting our members wherever they work, we aim to meet the current and future needs of international business.