Update from the CPA Australia Board 26 March 2024

President’s message

CPA Australia embarks on an exciting new chapter this week as Chris Freeland AM assumes the role of Chief Executive Officer (CEO), succeeding Andrew Hunter.

On behalf of the Board and our members, I’d like to thank Andrew for the significant contribution he has made as CEO. Over six years, Andrew’s unwavering commitment has been dedicated to enhancing services and value for our members. His leadership restored pride in the CPA designation and steered the development of both the 2018-2022 organisational strategy and our ambitious five-year plan spanning 2022-2027. We wish Andrew and his family all the best for the future.

I am delighted to welcome Chris Freeland AM as our new CEO. With a distinguished career encompassing senior executive positions in legal and consulting firms across Australia and abroad, Chris brings expertise in corporate transformation, strategic leadership, and growth. His active involvement in the not-for-profit sector, particularly in the realms of arts, social welfare, and education, underscores his alignment with CPA Australia’s values. Chris’s leadership will drive innovation and prioritise member needs as we continue to execute our strategic vision.

 

Our commitment to ethical behaviour, compliance, and professional standards

CPA Australia recently attended both the Senate Inquiry into Management and Assurance of Integrity by Consulting Services and Parliamentary Joint Committee Inquiry into Ethics and Professional Accountability: Structural Challenges in the Audit, Assurances and Consultancy Industry.

As we begin a new chapter at CPA Australia, I want to affirm our unwavering commitment to upholding the highest professional standards and ethical and professional conduct.

We persist in ensuring that our members deliver services in line with regulatory mandates, adhering to the highest professional norms and meeting public expectations for ethical behavior. To achieve this, we have sustained our resources within the Professional Standards and Professional Conduct compliance teams.

Recent enhancements to our procedures and advancements in technology are poised to amplify and enhance our focus on the pivotal issues under scrutiny in the ongoing parliamentary inquiries.

 

15th Annual Asia-Pacific Small Business Survey Results

CPA Australia has released the results of our 15th annual Asia-Pacific Small Business Survey. More than 4,200 business owners and managers across 11 diverse markets responded to the survey, which measures business sentiment, performance, and expectations across the Asia-Pacific region. Key drivers of high growth identified include investments in technology, innovation, and management capabilities.

This research serves as a cornerstone in highlighting our thought leadership in both established and emerging markets. We disseminate the findings through tailored media releases for each market and engage with governments and stakeholders to discuss the implications. Moreover, it informs CPA Australia’s policy stances on supporting small businesses and the accountants serving them.

The longevity and extensive geographic coverage of this research position it as a paramount and unparalleled resource on small businesses across the Asia-Pacific region.

 

2023 Integrated Report

The Board has approved CPA Australia’s 2023 Integrated Report that will be available to members via our website in mid-April.

The Integrated Report sets out CPA Australia’s financial statements for the calendar year from 1 January to 31 December 2023, and includes comprehensive information on CPA Australia’s performance, including the results from the Member Engagement Survey.

Continuing our commitment to iterative enhancement, this year’s report features refined disclosures on IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. We’ve bolstered social disclosures, expanded coverage of the Member Management and Finance (MMF) project, and highlighted operational model changes. There are also letters from Chief Financial Officer, George Kapitelli FCPA, and new CEO Chris Freeland AM.

We are proud to announce that, once again, we have attained Limited Assurance under the Integrated Reporting Framework. Our rigorous materiality process has garnered reasonable assurance, a distinction achieved by only a select few organisations globally.

Merran Kelsall AO FCPA inducted into Accounting Hall of Fame 

We extend heartfelt congratulations to Merran Kelsall AO FCPA, CPA Australia’s immediate Past President, on her induction into the Australian Accounting Hall of Fame. This prestigious recognition celebrates individuals who have made substantial contributions to the accounting profession, honouring Australia’s esteemed accounting legacy. Merran’s induction is a testament to her exceptional dedication and invaluable contributions to the field. She is truly deserving of this honour.

 

Vale Brian Waldron OAM FCPA

CPA Australia wishes to honour the memory of Brian Waldron, who passed away on January 6, 2024.

Brian devoted 74 years of his life to the accounting profession with utmost honour and distinction. His journey with CPA Australia began in 1950, culminating in significant roles such as serving on the National Council (formerly known as the Board of Directors) from 1984 to 1993, including a tenure as President and Chair in 1991. Prior to this, he served as a Victorian Divisional Councillor from 1979 to 1992 and held the position of President of the Victorian Division in 1983.

Elevating to the esteemed status of Fellow, Brian contributed extensively to various CPA Australia Victorian and national committees, as well as the Auditing Standards Board. In recognition of his exceptional service, he was bestowed with Life Membership of CPA Australia in 1993. Brian’s dedication extended beyond his professional realm, earning him the Medal of the Order of Australia (OAM) in 1996 for his contributions to both accounting and the wider community.

Mutual Recognition Agreement extended with CPA Ireland

CPA Australia is pleased to have extended the Mutual Recognition Agreement (MRA) with The Institute of Certified Public Accountants (CPA) in Ireland. This agreement reaffirms CPA Australia members as part of a truly global professional network. 

Sincerely,

John Curtin Distinguished Professor, Dale Pinto FCPA
President and Chair of the Board, CPA Australia