Statement from the Board 5 May 2020

1. AGM 

The CPA Australia AGM was held on Monday 27 April at CPA Australia’s offices in Melbourne, with members able to view proceedings via a live webcast. This year 270 people watched the meeting online. 

The Board would like to thank everyone who contributed to the AGM, particularly the members who watched the webcast and submitted questions. There was one resolution before the meeting and the results are available to view on the website. 

A recording of the AGM is also available on the website. 

Responses to questions submitted in advance, taken on notice during the meeting or received after the close of questions will be published on the website shortly. 

2. Extension of CPA Australia Strategy

As announced at the AGM, due to the disruptions caused by the COVID-19 pandemic, the Board has decided to extend CPA Australia’s strategy timeline from the end of 2021 to the end of 2022. This is in recognition of the disruption to the work of CPA Australia and its members due to the COVID-19 pandemic and the need to take a prudent approach with member funds during a period of projected economic downturn. 

After making significant progress on the strategy in 2019, we will continue to advance the strategy in 2020 while supporting members through the impact of COVID-19. 

3. Community campaign to support members in public practice

As part of our response to COVID-19, CPA Australia recently launched a community campaign across the major television and radio networks in Australia to support members in public practice.

COVID-19 presents a significant threat to business health and professional accountants have an essential role to play in helping the community contend with the economic repercussions, such as managing cash flow, identifying savings and providing support with accessing government stimulus packages. The campaign aims to create awareness about the value and service that professional accountants can provide. 

4. COVID-19 Hub

CPA Australia’s dedicated COVID-19 Hub  on the website is being updated regularly with the latest information and resources to help members and their clients respond to the unprecedented economic impact of COVID-19. The hub features a range of material, including:

• Business advice and tips
• Financial reporting and auditing resources
• Fact sheets, FAQs, webinars, podcasts and other guidance materials
• Information about relevant regulatory responses

CPA Australia’s ongoing advocacy and outreach on behalf of members to government, regulators and standard setters has resulted in a number of positive outcomes for members, including for example, advocacy that resulted in ASIC announcing measures to ensure that it is easier for Australians to get the advice and assistance they need from professional accountants during this period. We will continue to advocate on behalf of members during this challenging period.

Peter Wilson AM FCPA

President and Chair
On behalf of CPA Australia’s Board of Directors