1、RESPONSIBLE SMP PACESETTERS 2020 Association of Chartered Certified Accountants August 2020 About ACCA ACCA is the Association of Chartered Certified Accountants. Were a thriving global community of 227,000 members and 544,000 future members based in 176 countries that upholds the highest profession

2、al and ethical values. We believe that accountancy is a cornerstone profession of society that supports both public and private sectors. Thats why were committed to the development of a strong global accountancy profession and the many benefits that this brings to society and individuals. Since 1904

3、 being a force for public good has been embedded in our purpose. And because were a not-for-profit organisation, we build a sustainable global profession by re-investing our surplus to deliver member value and develop the profession for the next generation. Through our world leading ACCA Qualificati

4、on, we offer everyone everywhere the opportunity to experience a rewarding career in accountancy, finance and management. And using our respected research, we lead the profession by answering todays questions and preparing us for tomorrow. Find out more about us at RESPONSIBLE SMP PACESETTERS Small

5、and medium-sized accounting practices (SMPs) are a powerful force for public and social good. In their support for the small and medium-sized enterprise (SME) sector they are helping this vital part of the economy operate more effectively. SMPs also have an important role in supporting individuals a

6、nd organisations in their local communities: promoting financial literacy and social cohesion, reaching out to schools and colleges, supporting charities and NGOs, and offering employment and training to underrepresented groups. Foreword As our day-to-day activities are fundamentally reshaped by the

7、 effects of the pandemic, the purpose of organisations is in ever sharper focus. This unprecedented challenging environment is crystallising the need for better connectivity, greater mutual support and genuine purposefulness. For finance and accountancy professionals, this is about recognising their

8、 common duty to the society and the central part they can play in creating a resilient future for their organisations and for wider economies and the people they serve. Small and medium-sized accountancy practices (SMPs) are at the heart of supporting local communities, small businesses, charities a

9、nd the NGO sector. Since the Covid-19 outbreak, their pivotal role has become even more widely recognised as they are often at the very core of social sector crisis support and small business survival. SMPs are also the driving force of financial literacy and financial inclusion across local communi

10、ties, with both being vital pillars of a sustainable future for the next generation. As a professional body, ACCA recognises the important role our members have across the fabric of society, well beyond their role as job and wealth creators. This report highlights and celebrates this important broad

11、er role of SMPs within, and for, their communities. ACCA professional accountants are trained to uphold, and are bound by, a stringent professional code. And because ethics and integrity are essential components of the professional accountants DNA, this enables them to help the organisations underst

12、and how to be accountable to all stakeholders and to position this as an ethical choice, not simply a compliance issue. This report proudly showcases some of the best examples of social responsibility, in its widest sense, as practised by SMPs and the ACCA members who power them. We hope it acts as

13、a both a beacon and inspiration for the profession to do more and be more, as we all look to the future and a sustainable global recovery. Helen Brand Chief executive, ACCA 4 Contents Executive summary 7 Introduction 9 1. Vital role supporting small businesses 11 1.1 At the forefront of business sup

14、port 11 1.2 COVID-19 response 12 2. Supporting the charity and NGO sector 18 2.1 Expressing the values that underpin the practice 18 2.2 Supporting local communities and charities in COVID-19 20 2.3 Bringing technological expertise to the not-for-profit sector 21 2.4 Developing talent though communi

15、ty work 21 3. Promoting the accountancy profession 23 4. Fostering financial inclusion and financial literacy 27 4.1 Key role in financial inclusion of SMEs 27 4.2 Developing the new generation of financially literate and confident entrepreneurs 29 5. Driving social inclusion 31 5.1 Social mobility

16、31 5.2 Inclusive working conditions 35 6. Driving sustainability and ethics 37 6.1 The sustainability trailblazer 37 6.2 Sustainability and the ethical purpose of accountancy 40 7. Call to arms 42 Acknowledgements 44 References 45 5 6 RESPONSIBLE SMP PACESETTERS | EXECUTIVE SUMMARY Small and medium-

17、sized accounting practices (SMPs) are a powerful force for public and social good. In their support for the small and medium-sized enterprise (SME) sector they are helping this vital part of the economy operate more effectively, powering economic growth, employment and individual prosperity. But the

18、y also play a huge part in supporting individuals and organisations in their local communities: promoting financial literacy and social cohesion, reaching out to schools and colleges, supporting charities and non- governmental organisations (NGOs), and offering employment and training to underrepres

19、ented groups. SMPs vital role supporting small businesses reconfirmed in COVID-19 crisis The COVID-19 crisis has brought to light the vital role SMP accountants play in supporting SMEs. When the crisis hit, SMPs became the emergency service for their clients. But as well as working tirelessly to hel

20、p them weather the immediate storm, SMPs have been able to demonstrate to their clients their value as advisers, and help them to build businesses that are sustainable for the long term. SMEs and SMPs now have a mutual realisation not just of the value that SMPs bring to the SME sector but of the en

21、ormous potential that is still to be unlocked. SMPs provide the link between the SME sector and the ecosystem that they have to navigate: government, regulators and banks, and play a key role not just in guiding SME clients to the support they need but also in articulating their needs to these diver

22、se stakeholders. Supporting the charity and NGO sector Like many other organisations, SMPs make donations, fund-raise and volunteer for charities. But their biggest contribution is as accountants and business advisers: not just producing accounts pro bono but also serving on boards and promoting goo

23、d governance, financial accountability and best practice. This work also serves as a powerful development tool for accountancy leaders and their staff. Promoting the accountancy profession SMP leaders spend a lot of time working with schools and colleges to promote accountancy as a progressive and r

24、ewarding profession and back this up by offering training and apprenticeship opportunities, often to underprivileged or excluded groups. In doing so they are creating genuinely diverse practices, with a clear sense of mission and values. Financial inclusion and financial literacy SMPs play a valuabl

25、e role in fostering financial literacy among both individuals and organisations in their communities, promoting both entrepreneurship and personal responsibility. The adoption of digital technologies, in particular, is leading to a new era of engagement between SMP accountants and their clients, and

26、 enhanced financial competence among small business owners. Social inclusion One way that SMP accountants have helped make their practices more inclusive is by using digital technology to promote flexible working practices and better worklife balance, opening the profession to both young people and

27、returnees by offering internships and part-time roles. Remote working and flexible hours were well established in SMP accountancy even before the COVID-19 crisis and make it possible for people to combine a career in accountancy with family life, or to overcome mobility issues. Many SMP accountants

28、are also experimenting with different ownership models, paving the way for employees to gain equity in their firms. Executive summary 7 RESPONSIBLE SMP PACESETTERS | EXECUTIVE SUMMARY Sustainability and ethics As sustainability trailblazers, SMP accountants are playing a leading role in transforming

29、 the SME universe into one of robust businesses behaving ethically and responsibly. As trusted advisers they can guide clients through the maze of emerging reporting frameworks, carbon accounting, and waste reduction schemes and help them become both economically and environmentally sustainable. Cal

30、l to arms Many SMPs are already making huge contributions, whether of money, time or expertise. But there is more to be done, and clients and employees expectations will continue to grow. SMPs can live up to those expectations and express their values through their recruitment and employment policie

31、s, adopting and encouraging environmental responsibility, engaging with schools and universities and supporting charities and their local communities. What is in it for the SMPs? Strengthening the SMP client brand and expanding the client base Supporting the recruitment brand candidates are increasi

32、ngly looking for purposeful careers Developing talent and acquiring new skills through community work. SMP ACCOUNTANTS ARE PLAYING A LEADING ROLE IN TRANSFORMING THE SME UNIVERSE INTO ONE OF ROBUST BUSINESSES BEHAVING ETHICALLY AND RESPONSIBLY. 8 Small and medium-sized practices (SMPs) are a progres

33、sive force in accountancy. Introduction A highly diverse and innovative group, they have embraced new business models using Cloud-based accounting and digital technology to automate compliance work and offer increasingly sophisticated, value-adding advice and support to their clients, while offering

34、 exciting new career paths to accountants of different profiles and age groups. This report continues the series of publications devoted to SMPs that was initiated by The Passionate Practitioner (ACCA 2019a) and continued by Careers in Small and Medium-Sized Accountancy Practices (ACCA 2020c). SMPs

35、have always been a force for public good through both their day-to-day activities and their wider engagement with their employees and the communities around them. The sense of purpose that drives their businesses and the values that they adopt often extend to social as well as commercial objectives.

36、 Nonetheless, in the absence of a specific marketing function, their broad and impressive role in their society and communities often remains an untold story. We therefore decided to expand on this implicit message and explore the wider social impact of SMPs. What we have found has been eye-opening,

37、 both because of the individual stories we have uncovered and in widening our appreciation of the role of the sector as a whole. This report is designed not merely to recognise this contribution, but to inspire and support the leaders of SMPs to reflect on and enhance their own social responsibility

38、 programmes. It also shows how the wider engagement that social responsibility entails can be the catalyst that allows both accountants and their clients to reach their true potential. The report is based on the findings of more than 40 interviews conducted with SMP leaders from around the world and

39、 provides first-hand accounts of the multiple ways in which SMPs support the wider community. In this report we shall see how the roles that SMPs play as professional advisers dovetail with and support their wider social responsibilities and how the desire and need to engage in activities that broad

40、ly fall under the heading of corporate social responsibility (CSR) form a natural extension of the ethical and professional responsibilities of the accountant. We are aware that there are many practices that not only could, but would like to, do more. We hope that the stories and case studies in thi

41、s report will help to inspire and guide them into developing a holistic approach to responsibility that will not only suit their business model but reflect and support their brand. For what is a brand but the distillation of the purpose and meaning that drives an organisation? And what better way to

42、 demonstrate that by prospering while promoting the well-being and success of others? We also hope that telling those stories and unveiling the breadth of the SMP footprint for society, small businesses, charities and the NGO sector will enable policymakers to recognise the importance of their role

43、and encourage them to actively engage into a dialogue with SMPs developing policies for those segments. WHY IS THIS REPORT DIFFERENT? 1. It focuses on practical aspects of social responsibility as practised by SMPs and explores both the challenges and the unique opportunities for practitioners. 2. I

44、t is based on real-life case studies and the testimonials of the leaders of SMP practices. 3. It has global outreach and covers case studies from 15 countries around the world. 4. It explains the breadth of SMP accountants role for broader society and communities. 5. It suggests clear practical step

45、s for creating socially responsible practices and integrating them within the broader business mission of an SMP accountancy firm. RESPONSIBLE SMP PACESETTERS | INTRODUCTION 9 RESPONSIBLE SMP PACESETTERS | INTRODUCTION SMPs HAVE ALWAYS BEEN A FORCE FOR PUBLIC GOOD THROUGH BOTH THEIR DAY-TO-DAY ACTIV

46、ITIES AND THEIR WIDER ENGAGEMENT WITH THEIR EMPLOYEES AND THE COMMUNITIES AROUND THEM. 10 1. Vital role supporting small businesses For the SMEs that make up the bulk of SMP clients, accountants have been the most trusted advisers: a crucial part of the financial health and hygiene system for the SM

47、E sector, which is vulnerable to business failures and poor governance. The World Bank estimates that SMEs represent about 90% of businesses and more than 50% of employment worldwide. In emerging markets, most formal jobs are generated by SMEs, which create 7 out of 10 jobs (World Bank n.d.). SMP ac

48、countants not only support this vital pillar of the economy but also, through enhanced business support and access to finance, enable it to make a contribution to overall economic growth. RESPONSIBLE SMP PACESETTERS | 1. VITAL ROLE SUPPORTING SMALL BUSINESSES Since we began our research, the world h

49、as been overtaken by the COVID-19 pandemic. As devastating as the loss of life has been for many people, the impact of this crisis has been and will be predominantly financial, affecting businesses large and small with consequent impacts on jobs and communities. 1.1 At the forefront of business support Small businesses, micro enterprises and start-ups often struggle with the basics of finance and governance, which often are far from the focus of the business or its founders skill sets. Without the resources or scale to hire dedicat