Annual Review and Financial Summary Statements 2006 / 2007

This has been another period of development for the ACT. To complete our recent education investment programme, this year saw the last of the major qualification revisions with the launch of a new MCT Advanced Diploma in October 2006. As a past chairman of the Education Committee, I have been closely involved with the development of the new approach and its innovative delivery format. The MCT Advanced Diploma provides a fully integrated qualification in the most complex financial issues within treasury, risk and corporate finance. The new MCT is now available and holds significant appeal to overseas as well as UK candidates.

MCT now fully complements the modular AMCT. There is strong interest in AMCT and the two new Certificate Papers in Financial Mathematics & Modelling and Risk Management for Pensions have been extremely well received.We are currently working on a new Certificate in International Treasury Management which will be launched later this year. This certificate will provide a core understanding of the key issues within treasury irrespective of location.

Along with our professional qualifications, the ACT is also a provider of high-quality training, conferences and publications. As the membership body for those working in treasury and related areas, we are in a unique position to harness the invaluable input from those in our working groups, committees and on Council to develop programmes and content which reflect the key issues affecting the profession.

We are particularly pleased with the continued success of our annual conference, which is now the largest UK event covering treasury, risk management and corporate finance.We have run a number of talkingtreasury forums in conjunction with fellow European associations - these are extremely popular thought leadership events that facilitate discussion and debate amongst senior treasury professionals. Our training activities continue to grow.We have recently provided training for the FSA and are providing in-house training for a number of institutions, together with our extensive range of public courses.

Over the past 12 months there has also been a significant increase in European circulation of The Treasurer magazine.We have also published the first edition of The Asia Treasurer’s Handbook to complement The International Treasurer’s Handbook. We have demonstrated our commitment to our policy and technical remit by recruiting additional staff with senior treasury experience. This, together with our efforts of recent years, has generated increased recognition by outside bodies.We now find that EU and governmental bodies, trade associations and the rating agencies specifically seek our opinions and feedback on their draft proposals.

All the developments I have referred to would not have been possible without the hard work and dedication of Richard Raeburn and the executive team, who have overseen the ACT’s strategic direction and are committed to quality in everything the ACT provides. On behalf of Council I would like to thank them together with all our sponsors and advertisers, whose support enables us to provide the breadth and scope of the activities we currently offer. Finally, I would like to thank all of the volunteers who sit on our various committees and advisory groups - their input is invaluable and central to the success of the ACT.

Malcolm Cooper
President