PQ magazine February 2018
www.pqmagazine.com / www.pqjobs.co.uk
Feline groovy! More accountancy cats to brighten up your study and revision
ACCA: why trust is vital
THERE’S MORE TO DO ON SOCIAL MOBILITY
Applicants from low income families are still less likely to be taken on as chartered trainees by the world’s largest firms, says a new study. The firms are now being urged to take another look at their recruitment polices as potential recruits from low income backgrounds are consistently losing out on jobs to their wealthier counterparts. Research by the Bridge Group found that applications to the firms from higher income backgrounds had a one in 18 chance of being hired. This compared with a one in 22 chance for those from a low-income background. The study also discovered that those educated at independent schools had a one in 14 chance of being signed up as a trainee, compared with one in 17 of state school-educated applicants. Even the university you go to affects the chances of getting a training contract, with one in 10 graduates who studied at Oxbridge being hired. This contrasts with one in 14 graduates who studied with one of the top 30 universities in the UK. The Bridge Group says accountancy firms must stop using A-levels as a filter for talent as it feels school exams are not a good indicator of future professional performance. Firms have also been told to review the use of their online tests for candidate screening, too, because they “are very effective at filtering out” ACCA recently reached an impressive milestone – its 200,000th member. To celebrate, ACCA has created a transportable wall of member names, featuring every one of ACCA’s 200,000 members. It has also created a digital replica of the wall so members can find their names and leave a message to describe what their
job seekers from lower incomes and ethnic minorities. Bridge Group said: “Performance in these tests is only weakly correlated with performance at later stages of the selection process.” The Bridge Group’s CEO, Nicholas Miller, said: “Everything associated with recruitment and selection is derived from an established, traditional model of what makes a good accountant. The real challenge for the sector is
to interrogate notions of talent and to define what competences really count when delivering a professional service.” KPMG’s head of social mobility, Jenny Baskerville, admitted the research showed there is more work to be done to ensure the industry represents society as a whole. She was also troubled by the fact that applicants with a private education were more likely to succeed in the application process.
ACCA now 200,000 strong membership has meant to them. CEO Helen Brand says reaching 200,000 members is a landmark occasion and an opportunity to champion the profession. She said: “Over the past 113 years, our members have helped lead and
advise organisations of all sizes across geographies and economic sectors. We want all of our members to feel immense pride in what they have achieved in qualifying with ACCA and to celebrate with them their career success.”
The digital wall launches at the ACCA’s online event ‘Accounting for the Future’ in late 2017, while the physical wall was unveiled in Ethiopia at the ACCA’s first-ever member engagement event in sub-Saharan Africa.