ACCA and the Economic and Social Research Council (ESRC) have signed a memorandum of concordat which will see the two organisations build on their existing partnership work in areas such as diversity, pensions, social responsible investment and climate change.

Ewan Willars, director of policy at ACCA, said: 'Our partnership is based on high quality research that strongly supports both knowledge exchange and impact to policy, business strategy and the wider accounting profession. We have already built a compelling case about the issue of diversity in global business, and we are looking to develop this important concern in the future.'

The concordat will last for three years and end on 31 March 2016, with each organisation contributing £50,000 to sponsor joint initiatives, provide research grant funding and support internship programmes, as well as other activities.

Adrian Alsop, director of research, partnerships and international, ESRC, said: 'ESRC and ACCA will continue to collaborate, as appropriate, on seminars, workshops, reviews and consultations in relation to areas of common interest. Together, we share a commitment to encouraging independent, high quality research that informs and impacts business, the third and public sectors as well as governments.'