Annual Review and Financial Summary Statements 2005 / 2006

Having been involved with the ACT in many different ways over the 20 years of my membership, I am delighted to be its President at this time of rapid development for both the ACT and the profession. The role of the treasurer continues to widen, encompassing several disciplines and demonstrating the value of treasury skills across numerous business functions. As a result, the need for first-class training and well recognised qualifications has never been greater.

To make our qualifications as relevant as possible to the treasurer’s expanding role, we have invested heavily in our examination programme, which will continue to evolve. The revised AMCT is now fully available incorporating a modular approach. There is strong interest in the two new certificates, Financial Risk Mathematics and Pensions Risk Management. Many of the candidates for these certificates are already AMCT
or MCT qualified, indicating that they are adding value for our members.

We have entered a new phase for our flagship qualification, MCT – Advanced Diploma, which from this Autumn will be delivered in a revised contemporary and exciting format. Whilst still providing the same leading edge understanding of the most complex issues within treasury and related areas, the qualification will incorporate an innovative delivery mechanism, flexible study and tutor support.

As well as being the global leader in treasury qualifications, the ACT is highly regarded for the quality of its training, conferences and publications. The Annual Dinner is one of the largest City events of the year and is an immediate sell-out. In just three years we have also established the leading annual treasury conference held in the UK. Our ability to attract high profile speakers such as Jean Claude Trichet, President of the European Central Bank, Paul Tucker of the Bank of England, Lord Turner, Chairman of the Pensions Commission, Nicholas Macpherson, Permanent
Secretary to HM Treasury and David Norgrove, Chair of the Pensions Regulator, demonstrates the high esteem in which the ACT and its members are held.

A large part of this reputation is down to the high quality contribution the ACT makes on behalf of members to new standards, regulation, legislation and market practice. This expertise also flows through into conference programmes and our respected publications, The Treasurer magazine and The Treasurer’s Handbook. The attention we have given to editorial input has been recognised widely over the past 12 months.

That such high quality can be produced in all the ACT’s activities is a credit to Richard Raeburn and the executive team. In turn, they would not be able to attain these standards without the significant input of the committees and on behalf of Council I would like to thank all the staff, member volunteers and sponsors who helped make 2005/06 such a successful year for the ACT.

Stephen East
President