"ACCA is in a mess", proclaim the headlines. ACCA members wonder what is the priority for the fat cats controlling the Association. Is it to give value for money, greater transparency, accountability, democracy, openness or doing something to help ACCA members get jobs, especially as less than 3% of the accountancy jobs advertised make any mention of the ACCA qualification. It is none of these.

The fat cats are going on a 'bonding' trip to Scotland. This has now become an annual event. All Council members, ACCA chief executive, ACCA directors, their spouses and friends are to go on all expenses paid trip to Edinburgh. An insider said, "it is a luxury holiday for all concerned at the poshest of retreats. They will see the sights and live it up. It is an absolute waste of money and nothing short of daylight robbery".

The two day trip will cost around £80,000 and all the costs will be charged to ACCA members. ACCA annual accounts as usual will be silent. In recent years, ACCA subscriptions have been rising at a rate of 2-3 time the rate of UK inflation. Some overseas members pay more than one month's salary as subscriptions.