Statement from the Board 20 November 2018

CPA Australia’s Board has been working to build member confidence in the organisation. We have implemented the governance changes recommended by the Independent Review and passed by members at the 2018 AGM, we have appointed a new CEO who has overseen a restructure of the organisation and we are implementing a new strategy developed in conjunction with members.

1. Council of Presidents

The Council of Presidents met on 5 November 2018 and reviewed and agreed the new Council of Presidents charter.

The Council of Presidents comprises the Board Chair and each Divisional or Branch President. As at the date of the Charter, the Branch Councils are those in the Northern Territory, Europe and New Zealand.

The objective of Council is to provide advice to the Board on strategic issues and opportunities in an ongoing manner with an emphasis on sharing the views and preferences of members. The Council is the voice of the collective Divisions and Branches and will supplement open and transparent communication between the Board, the Divisions and Branches and the members.

The Council of Presidents was formed as part of the governance changes voted for by members at the 2018 AGM.

View the Council of Presidents charter.

2. Director remuneration

The 2017 CPA Australia Annual Integrated Report included full disclosure of Director remuneration along with extended formal Statement of Profit and Loss with supporting notes.

The Board is committed to continuing to report transparently to members and will continue these levels of disclosure in the 2018 Annual Integrated Report and in future years.

Of note, the circumstances of two directors have changed during the year.

Ms Caroline Spencer was appointed Auditor General of WA and began her role on 28 May 2018. Under WA legislation the Auditor General is not able to be in paid employment from any other source. In most jurisdictions, only the Auditor General is prevented from outside paid employment however, other staff can engage in non-conflicting jobs with approval on a case by case basis. In order to comply with state legislation, Ms Spencer elected to perform her CPA Australia director duties on a pro bono basis and this has been in effect since 28 May 2018.

Mr Ric De Santi was Deputy Auditor General of Tasmania upon his initial appointment to CPA Australia’s Board in October 2017 and he remains in that role. Mr De Santi’s participation on the CPA Australia Board was approved by the Auditor General of Tasmania and was transparently reported in the 2017 CPA Australia Annual Integrated Report.

Following a recent article published in the Australian Financial Review, Mr De Santi in consultation with the Auditor General wishes to remove any perceived basis for questioning his participation on the CPA Australia Board and advised accordingly he will perform his CPA Australia director duties on a pro bono basis, effective 16 November 2018.

This will be clearly disclosed in the 2018 Annual Integrated Report.

3. Australian Open

This is the third and final year of CPA Australia’s contract to sponsor the Australian Open. As a result members will continue to see CPA Australia branding at the event in January.

As was the case in January 2018, all tickets will be made available to members and no Directors or management will attend the Australian Open as part of CPA Australia’s sponsorship.

Details of the member competition for Australian Open tickets will be available in coming weeks and members will be advised via email and details will be available on the website.

Peter Wilson AM FCPA
President and Chair
On behalf of CPA Australia’s Board of Directors