AABA has learnt that the Andrew Hind, who was tipped to take over from Anthea Rose as the ACCA's chief executive has now withdrawn from the job. He will not be taking up the position. As a result Anthea Rose will remain as ACCA chief executive until a successor has been found. Even if Andrew Hind had started his job, Anthea Rose would have remained at ACCA in a part-time capacity.

The episode again shows that the ACCA leadership can't get much right. It paid fees to head-hunting agencies to recruit a replacement and then announced this to the world. Now it again has to eat humble pie. Will the annual accounts contain any explanation or a disclosure of the wasted costs? Don't hold your breath. The word is that ACCA will put a gloss on the affair by claiming that there were some contractual difficulties.