Top finance directors 'working without accountancy qualifications' 

Around one in five finance directors of FTSE 100 companies do not hold formal accountancy qualifications, a new report has revealed. 



According to research carried out by the publication Financial Director, 18 companies employ finance directors who lack either qualifications or an affiliation with one of the major accountancy sector bodies. 



These include pharmaceutical giant AstraZeneca, British American Tobacco and the travel operator Thomas Cook. 



However, five finance directors were found to hold qualifications from the Association of Chartered Certified Accountants (ACCA), while a similar number have qualifications from the South African Institute of Chartered Accountants. 



In addition, a majority of people in this position do hold MBAs, the research also revealed. 

 

The study cited Suzzane Wood, managing partner at head-hunter Heidrick & Struggles who claimed that more emphasis is now being placed on formal accounting qualifications, with finance directors in the 'post-Enron' world coming under greater scrutiny. 



The ACCA currently boasts more than 131,000 members across the globe, with 362,000 students also affiliated with the body.