Statement from the Board 8 June 2018

As part of our ongoing commitment to improve communication, the Board would like to provide you with an update on a number of matters:

1. US mutual recognition agreement

Earlier this year, we advised members through INTHEBLACK of a Mutual Recognition Agreement (MRA) between the American Institute of Certified Public Accountants (AICPA) and CPA Australia.

Under the MRA a CPA Australia member may be eligible to obtain the US CPA credential if he or she is either a citizen of Australia or New Zealand or a holder of a visa granting legal residency in Australia or New Zealand. They must also be a member in good standing of CPA Australia and meet additional criteria around education, examination, experience, and continuing professional development.

CPA Australia has also exchanged documents with CPA Canada as part of our ongoing negotiations with a view to having a similar Mutual Recognition Agreement in place in the future.

These initiatives are designed to support global opportunities for members who wish to work overseas. For more information visit the AICPA page.

2. Draft strategy consultation

CPA Australia’s draft Corporate Strategy is well advanced and is being discussed with Divisional and Branch Councils. With a focus on members at its core, the development of the strategy has been informed by the outcomes of the member engagement survey, a workshop of Divisional and Branch Presidents in January, 40 member focus groups, and internal workshops with CPA Australia staff, management and the Board.

CEO Andrew Hunter will be presenting the draft to Division and Branch Councils in the coming weeks and opportunities for further member feedback will be communicated to all members soon thereafter.

3. Council of Presidents and Appointments Council convened

In line with Constitutional changes approved at the AGM, the new Council of Presidents has conducted its first meeting and an Appointments Council with representatives from every division has been convened. The first task of the Appointments Council will be to review applications for the two CPA Australia Director roles advertised last month and select the successful candidates.

The outcomes of this process will be announced at the end of September.

4. Group Audit role to be put to tender

The Board of CPA Australia has decided to submit the role of Auditor for the 2018 CPA Australia Annual Accounts to a competitive tender of appropriate auditing firms. Earlier this week Deloitte, the current auditor, advised it would not participate in the tender process. Deloitte has indicated it will work to transition to the firm selected by CPA Australia’s tender process. CPA Australia thanks Deloitte for the work it has done as the Group Auditor over the last twelve years.

5. Australian Accounting Review call for expressions of interest

Later this month CPA Australia will call for expressions of interest from our senior academic members to join the new editorial group of the Australian Accounting Review. Published four times a year, the journal aims to provide in-depth discussion and critical analysis of developments affecting professionals in all areas of finance, accounting and business.

Appointments are expected to be announced by the final quarter of this calendar year, after which handover arrangements will completed with the current editorial group which will step down by the end of 2018.

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