Update from the CPA Australia Board 6 December 2023

President’s message

This is my first opportunity to communicate directly with CPA Australia’s full membership since the recent announcement of the Director appointments. It is a great honour and privilege to be elected as President and Chair of CPA Australia and to represent more than 172,000 members worldwide.

As President, I commit to providing leadership characterised by transparency, accountability, and inclusiveness. I frequently draw upon the wisdom of the Zulu concept of ‘Ubuntu’, which embodies the belief that my existence is interconnected with yours, and I wholeheartedly embrace this team-oriented philosophy.

Working cohesively as a team, I, in my role as President, will collaborate closely with the Board, CEO, and the management team. Together with Deputy Presidents Warren McRae and Louise Cox, CPA Australia’s entire Board of Directors will engage with Divisional Councils and the Council of Presidents to ensure the ongoing delivery of value to you, our members. Together, we are committed to upholding the highest standards of integrity and elevating the impact of our profession in an ever-changing global environment.

On behalf of the Board, I’d like to wish you and your families all the best for the festive season and a safe and happy New Year.

Appointment of new CEO Update

One of the Board’s first priorities is to finalise the appointment of the next CEO. Following Andrew Hunter’s announcement in July 2023 of his intention to resign from CPA Australia to explore career opportunities in Europe, the Board has worked closely with Executive search firm Russell Reynolds Associates to conduct an extensive search process to appoint the next CEO of CPA Australia. I am pleased to advise that we expect to be in a position to make an announcement to members before the end of the year.

 

Member Management and Finance project

The Member Management and Finance (MMF) project went live in July, as reported in our Board Update of 19 July. This project represents a major upgrade of our core systems which enhances our cyber security and enables us to provide more personalised services to our members. The project is now complete, closing with a cost overrun of less than 0.01 per cent, which will see the organisation report an overall deficit of between $3-5m for this year, as forecast in the 2022 Integrated Report. CPA Australia remains on track to return to surplus in 2024.

 

Finalising the new CPA Australia operating model

In June 2023, we advised members that CPA Australia would be implementing a new organisational structure to support the delivery of our 2022-2027 strategy. The new structure has been designed using best practice principles for an organisation of our size and complexity, and positions us to deliver on our strategic objectives. The new operating model aims to create more collaborative ways of working and engaging with members, and leverages our technology investment undertaken as part of the MMF program. 
 

We have adopted a phased approach to moving to the new operating model in order to maintain continuity of service to members, and minimise disruption to teams. It is acknowledged this has been a period of significant change for CPA Australia employees. We are focused on collecting and responding to staff feedback as we embed the model, and will continue to provide appropriate support throughout the transition.

 

We also wish to recognise colleagues who are leaving the business as a result of structural changes. We thank them for their contribution to CPA Australia and wish them well for the future.

The Board is confident that the new operating model will help us continue to deliver outstanding service to members, shape government policy and be a leading voice in education and advocacy for the accounting profession.