Update from the CPA Australia Board 29 May 2024

President’s message – Annual General Meeting (AGM)

The Board sincerely thanks the members who attended CPA Australia’s AGM on Thursday 16 May. Nearly 90 people participated in person at our Southbank, Victoria office, and over 230 tuned in to watch the live webcast. We deeply appreciate the strong engagement from members who posed thoughtful questions regarding CPA Australia’s operations, financial performance in 2023, and our outlook for 2024 and beyond. Alongside myself, members heard from CEO Chris Freeland, Deputy Presidents Warren McRae and Louise Cox, and CFO George Kapitelli. The Board also valued the opportunity to connect with members before and after the meeting. Thank you to everyone who participated and also to the CPA Australia team for their professionalism in organising the AGM. You can view a recording of the AGM on the website.

One of the key agenda items at the AGM is the presentation of the financial reports and Integrated Report. As strong advocates of Integrated Reporting, we’re very proud that CPA Australia's 2023 Integrated Report, ‘Transforming for the Future,’ was acknowledged as a finalist in the Special Awards category for Integrated reporting at last week’s 2024 Australasian Reporting Awards. This is the fifth consecutive year that our Integrated Report has been a finalist, with our report winning at the 2020 and 2022 awards ceremonies.

Promoting professional conduct at CPA Australia

CPA Australia is committed to upholding the highest standards of ethics and professional conduct. Earlier this month we were honoured to host a series of events in Sydney and Melbourne with the Chair of the International Ethics and Standards Board (IESBA), Ms. Gabriela Figueiredo Dias, who discussed the vital work being undertaken by IESBA on topics such as Ethics in Sustainability Reporting and Firm Culture and Governance.

As one of the world’s largest professional accounting bodies, CPA Australia plays a critical role in fostering excellence and integrity amongst our members. Our Professional Conduct Business Unit operates in strict adherence with CPA Australia’s Constitution and By-Laws conducting thorough and impartial investigations into complaints about members while ensuring due process and member rights are upheld. When a complaint is lodged against a CPA Australia member, it undergoes a formal investigation and, if warranted, may be referred to an independent disciplinary process, potentially resulting in disciplinary measures. Detailed information about member conduct and disciplinary procedures, including how to submit a complaint, can be found in our member guide and disciplinary outcomes documentation which is available on our website.  

 

Australian Federal Budget coverage

CPA Australia provided comprehensive coverage of the 2024-25 Australian Federal Budget for members. The budget’s primary focus was on alleviating cost of living burdens, addressing inflationary pressures, and introducing the government’s new industry policy – ‘Future Made in Australia’. During our budget night coverage, CEO Chris Freeland remarked on the limited support for small businesses as portrayed in mainstream media and industry publications. Furthermore, we provided members with comprehensive insights into the tax and superannuation measures outlined in the budget, along with a podcast offering our analysis. Additionally, a webinar was conducted, drawing an audience of over 1500 members. Our coverage is available on the dedicated Federal budget webpage.  

 

CPA Program exams and mentoring program

Fostering the future generation of accountants stands as a paramount objective for us. In April alone, we administered over 20,000 exams to Associate members enrolled in the CPA Program. Results will be unveiled on Friday 7 June, and on behalf of the Board, I extend our best wishes to all candidates.

Our Australia and New Zealand mentoring initiative kicked off on 30 April, pairing 550 mentors with mentees. This program facilitates skill development and fosters a mutually beneficial experience for both parties. The response to our International Mentoring Program has been overwhelmingly positive, with over 650 applications received. This year we’ve broadened the scope to include members in India, Sri Lanka and the United Arab Emirates (UAE). Launching next month, successful applicants will be notified of their pairs by 6 June. A heartfelt thank you to our qualified members participating as mentors.

Board nominations open 

The nominations for appointment to the Board of Directors opened on 20 May 2024 and close on 7 June 2024. All applications are to be submitted through the executive search firm, Odgers Berndtson’s application portal. Full details available on the website. 

 

Sincerely,

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