The Association of Chartered Certified Accountants (ACCA) has emphasised that the UK Government’s growth agenda will only succeed if it establishes a “meaningful partnership” with the accountancy sector.  

The accountancy sector is said to have contributed £98bn to the UK and Irish economies in 2022. 

It exported £4bn in services and had a trade surplus of £4.9bn that year.  

ACCA responded to ‘Invest 2035: the UK’s modern industrial strategy,’ highlighting the sector’s role in underpinning the success of all eight growth-driven sectors identified by the Labour administration. 

It suggests that by refreshing its understanding of the accountancy sector, the government can directly deliver on targets such as net zero, regional growth and economic security.  

‘Invest 2035: the UK’s modern industrial strategy’ is a green paper released by the UK Government, outlining a ten-year plan to provide businesses with the stability needed to invest in high-growth sectors. 

ACCA Policy, Technical and Strategic Engagement head Glenn Collins said: “The UK government’s ambitious strategy for growth needs to be supported by detailed plans to ensure that the aspiration has a chance to be realised.  

“ACCA has a track record of working with government to support detailed policy implementation, which will enhance growth. We look forward to working in partnership with government to make it happen.” 

ACCA further says that accountants provide strategic business advice and unlock investment opportunities, particularly for SMEs and entrepreneurs. 

Earlier this month, ACCA advocated for sustainability reporting standards at COP29 Azerbaijan, held from 11 to 22 November 2024.  

Through meetings and panel discussions, ACCA is raising awareness about how sustainability disclosures drive investment in sustainable businesses and the net-zero transition.