Cpa australia annual report 2011 pdf

Internal audit has access to the Audit, Risk and Compliance Committee at any time. New Public Practice Program — a more flexible pathway for members to achieve their Public Practice Certificate PPC including moving the traditional face-to-face workshop to a webinar series allowing members to continue on their pathway to a PPC without interruption. The Value of Advice research report — demonstrated the value of advice and provides a further platform to continue to advocate for reform to ensure advice remains affordable and accessible.

Professional Indemnity Insurance Portal — delivered an intuitive and easy to use product allowing members to provide their insurance and claims data more efficiently. The value of the CPA designation is generated by the technical expertise and reputation of our members.

We enhance this reputation by building our brand profile through a range of activities including bringing together members with employer and industry sector groups, building relationships with international accounting bodies and organisations, engaging with students and educational institutions, utilising various communication and social media channels to connect with our stakeholders.

A key to the sustainability of our members and CPA Australia lies in meeting the changing expectations of the community and the landscape organisations operate in. We look to do this by conducting research into issues facing the profession both by ourselves and with partners, supporting the development of the profession in under-represented areas and partnering with other professional accounting bodies to advance the future of the profession.

We continue to increase our thought leadership activity, with members rating our activity higher than in previous years. Member engagement research is a key way in which we track the quality of the relationships we have with our members. The current study was undertaken in all years since through a third-party provider Forethought.

In , this consisted of a minute online survey which received a CPA Australia has a strong and diverse membership representing numerous business and industry sectors in more than countries and regions around the world.

Our members occupy a broad spectrum of the accounting and finance profession, from public practitioners working with clients, accountants working in small business and members working in not-for-profit organisations and large corporate entities.

This strength and diversity allows CPA Australia through its members to make a positive contribution to business, organisations, the accounting profession and the broader community. Our member experience team works across the organisation to ensure that we offer members efficient and professional service in every interaction: be it via direct service through our contact centre or local offices, providing easy access to information and resources on the website or by hosting a range of engaging member events.

CPA Australia aims to foster an engaged and motivated workforce that is empowered to deliver on our strategy and organisational objectives. To achieve this, we have contemporary policies and workplace practices that are centred around attracting, developing and retaining talent.

Naturally, our people have been a focus throughout as we transitioned many of our people to work from home. We implemented technology and infrastructure changes that enabled our people to set up home offices, with equipment being delivered to their homes so that they could work in a safe and productive way, including our contact centre agents who continued to provide service to members.

The value of the CPA designation stems not only from the technical expertise and understanding of business strategy gained through completing the CPA Program, but also through the ongoing learning that our members undertake to ensure their knowledge remains relevant. The majority of our face-to-face events and conferences were cancelled during the pandemic with events moving online so we could still continue to support our members. Attracting new members is key to the sustainability of the organisation as older members retire and leave the profession.

Our expectations had been that new member growth would remain at a drop from previous years as competition from local and global bodies increases and the changing higher education landscape leads to lower numbers of accounting graduates.

However, in , we saw an increase and attracted 10, new members. Previous global crises i. GFC have often resulted in an increase in those seeking further professional qualifications to further employability and career prospects. In response to the economic uncertainty in , CPA Australia adapted new member activity to reflect changing market sentiment.

The campaign messaging was designed to provide reassurance for new members to start their study now and prepare for the future. The CPA Program is a comprehensive postgraduate education program designed to provide candidates with a thorough grounding in accountancy, finance and business knowledge. In addition to technical accounting skills, it focuses on strategy, leadership, ethics and governance with a view to developing agile and adaptable accounting professionals who are ready to meet the challenges of a changing business world.

The impacts of COVID have further reduced the already declining number of students choosing to study an accounting degree. We will continue to evolve the CPA Program to ensure that it addresses the future needs of members and their employers. CPA Australia looks to impact policy globally and be active in community advocacy on issues that matter to members, advance the profession and are in the public interest. Our Policy and Advocacy team actively engages with governments, regulators, government agencies and standard setters to promote public policies that stimulate sustainable economic growth and have positive business and social outcomes.

Our broad membership base allows us to seek a variety of views and provide an array of industry perspectives. We represent the views of members across the spectrum of accounting, finance and business disciplines. CPA Australia also seeks to influence policy by maintaining a strong and active voice in the media.

Engaging with media helps us generate support for our positions and can shape legislative and regulatory outcomes, on behalf of members and for the public interest.

We use a range of data analytics to assess the effectiveness of our media engagement. The MIS is a comparative benchmark which ranks over Australian organisations across 18 sectors based on audience reach, key messages and tone.

CPA Australia reviews and shapes policy, legislation and regulation on behalf of members and in the public interest. In , our thought leadership influenced key decisions by government and standard setting bodies, including:. In , governments and regulators will begin to return to matters that were on the agenda previous to COVID and will also need to continue to deal with the economic and other impacts of the pandemic.

CPA Australia will continue to engage with a range of key stakeholders and advance its policy and advocacy activities to address these matters in the public interest, and in the interest of the profession and our members.

We expect our major policy and advocacy activities in will focus around:. Merran has considerable expertise in corporate governance, finance, audit, risk and compliance. She is particularly focused on aligning performance management with strategy, and in financial and non-financial external reporting to include strategy and risk management.

She operated in public practice for 20 years, including 10 years as a partner at BDO. Her industry experience includes financial and professional services, insurance, health, retail, education, contract management and major infrastructure projects.

Dale is the author and co-author of numerous books, refereed articles and national and international conference papers and sits on the editorial board of a number of peer-reviewed journals as well as being the Editor-in-Chief of several refereed journals. Dale has been a registered tax agent for more than 25 years and was appointed by the Assistant Treasurer as one of the inaugural members of the National Tax Practitioners Board.

Enrico has broad expertise in audit and assurance, financial reporting, risk management, governance and executive management spanning the public and not-for-profit sectors. He has been a registered company auditor since He was President of the division in Prior to this, he was on a number of school boards, chairing the St. Aloysius Catholic College Board from to , as well as serving on other Catholic Education committees. Michaela possesses a deep understanding of international and economic policy and has a proven track record of leadership in economic development, risk management and governance.

She ran the official development program for Afghanistan and Pakistan. She has previously served on diplomatic missions overseas in Thailand and Singapore. As and while an Australian public servant, Michaela has asked to perform the role on a pro bono basis. As an experienced board member, Louise has served in a range of roles including Chair, Deputy Chair, Chair of Finance and Risk, and Chair of Governance in various commercial, public sector and not-for-profit boards.

Robyn is a partner in Brooke Bird, a specialist restructuring insolvency and turnaround firm and has been actively involved in the public practice sector for over 30 years.

In , Robyn was awarded the Henry Fox Award for outstanding service to public practice in Victoria. Helen Lorigan commenced as an Executive-in-Residence at Sapien Ventures, a venture capital company with partners based in Sydney, Silicon Valley, Melbourne and Shanghai, in February and became a Venture Partner in April which also led to her subsequent appointment to a number of fintech and investment advisory boards.

Helen is leading a number of key initiatives across superannuation, self-directed advice and funds management which involves the identification, sourcing and curating of high-quality fintech, digital platforms and online marketplace start-ups for potential investment. Rosemary Sinclair has extensive experience at CEO and Senior Executive level in the communications, media, publishing, higher education and energy sectors.

Rosemary has international Board experience in telecommunications and internet policy development committees. Rosemary was made a Member of the Order of Australia in June for significant service to business, particularly through leadership and administrative roles in the telecommunications industry.

Peter Wilson was made a Member of the Order of Australia in for services to workplace relations and safety and community service and was awarded a Centenary Medal in Recognised as a board and C-Suite advisor on strategy, human capital, leadership development, and the future of work, she brings a unique blend of experience in technology, business, and organisation development gleaned over 25 years across Asia and North America. In , CPA Australia continued to invest in key initiatives that support the strategy put in place in , and on initiatives that would support members through COVID This included: the introduction of the first micro-credential course in digital finance, further investment in guided learning and online tuition options to support candidates through the CPA Program, a community campaign to support public practitioners, the introduction of a virtual CPA Congress and investment in our website, member management and finance systems.

Additionally, the CPA Member Connect platform was launched to enable members to build networks in a secure environment. CPA Australia also continued to enhance our thought leadership in advocating for our members and the public interest.

Thank you for your interest in CPA Australia. Accounting and finance professionals are leading the economic recovery effort across the world. Chapter menu. About this report. Who we are. CPA Australia is one of the world's largest accounting bodies with a history of more than years. Our vision Partnering with members to prepare for today and tomorrow in a globally connected world. Our purpose Advancing trusted and valued accounting and business professionals who enhance their communities.

Interested in more detail? For more information on our organisational structure download the pdf. Download PDF. Advisory Committees advise the Board in their areas of expertise. President's report. Accounting and finance professionals are leading the economic recovery effort across the world and I am both proud and reassured by the dedication and resolve shown by CPA Australia members, all of whom operated under extreme pressure to provide support to businesses, clients and employees.

Read full report. Working for members The challenges posed to our profession in highlighted the value of working towards a common objective and the Board is grateful for the leadership and support shown by the Council of Presidents and each of our 13 Divisional Councils. Andrew Hunter. Fortunately, CPA Australia entered the year with considerable momentum under our strategic plan. Investing in technology to connect with members It was a year of accelerated change with a number of initiatives slated for future implementation being introduced quicker than originally planned.

Other key aspects of our member education offering in included: Increasing the online learning support package available to candidates Expanding our mentoring program across Australia and New Zealand, with plans to expand further to other international locations in Transitioning the majority of face-to-face CPD to self-paced online learning at considerably reduced prices, and in many cases free to full members Launching our first suite of six micro-credential courses focusing on digital finance.

These short-form courses had more than enrolments and are available to fully qualified members as CPD. We also introduced important initiatives to assist members working in public practice, including: Updating the public practice program to a more flexible, personalised model Launching additional My Firm.

My Future. Andrew Hunter CEO. CPA Australia Strategy. Vision Partnering with members to prepare for today and tomorrow in a globally connected world. Purpose Advancing trusted and valued accounting and business professionals who enhance their communities. Goals Protect, promote and enhance the integrity of the designation.

Lead the future of the accounting profession. Attract and develop the next generation of CPAs. Performance against strategy. Key performance indicators Goal. External environment. Technology — Improvements in accounting software are changing the way accountants use and interact with technology. New processes and systems are shifting the critical skill sets required by accountants.

Organisations are outsourcing and automating manual and repetitive tasks to free up employee time to complete more complex tasks. Accountants as strategic advisors — Organisations are becoming more reliant on skilled accountants to provide them with consultation and advice on strategic matters.

Trust and transparency — Trust and transparency are increasingly important to organisations. Business model. Supporting platform for achieving the strategic goals Sustainable annual financial performance.

Manufactured capital 19 offices IT systems. Natural capital Paper for publications Carbon through airline and other travel. Social and relationship capital Member relationships Supplier relationships Regulator relationships Relationships with industry. Developing and delivering thought leadership, policy and advocacy work for the benefit of members and the public interest Attracting high-calibre ASAs through a compelling content offer and experience for prospective members Building a culture that is collaborative, constructive and has a learning focus Reviewing internal controls, procedures and decision-making processes and risk frameworks to ensure strong internal governance Management and investment of member funds Provide input into standard setting.

Quality CPA Program Recognised brand in the accounting profession and market more broadly High-calibre accounting professionals CPD and publications that deliver valued knowledge Public practice program Professional standards program Personalised and engaging member experiences Policy and advocacy work Quality assurance program Waste through overprints of program materials and other publications Emissions through our use of electricity, flights and other travel Strong financial reserves.

Societal impact. Material issues Material issue. Leading the future of the accounting profession. Reputation and promotion of the brand and designation. High-quality professional development and knowledge for members.

Advocacy and thought leadership on behalf of members. Wellbeing of our members The wellbeing of our members and our people is of great importance, this is particularly the case during a global pandemic.

Supporting members and the community The outbreak of the COVID pandemic during had significant impact on individuals, businesses and communities. Supporting our people With offices around the globe, the pandemic impacted our people at different times and in different ways.

Risks and risk management. Value created Our risk management framework and approach ensures consideration of risks across our activities including those risks most likely to impact our strategy, business model and ability to create value over time Three lines of defence model to ensure appropriate oversight.

Moving forward Progressively embed and consolidate risk monitoring and reporting processes across CPA Australia including:. Public interest and professional standards.

Value created New Public Practice Program — a more flexible pathway for members to achieve their Public Practice Certificate PPC including moving the traditional face-to-face workshop to a webinar series allowing members to continue on their pathway to a PPC without interruption. Moving forward Launch of the CPA Best Practice Program and development of learning tools and resources aligned to CPA Best Practice Program outcomes Launch of peer consultation, a two-hour virtual consultation offering for new public practitioners, setting them and their business up for success Launch of a self-assessment diagnostic tool that allows members to assess their business needs and connects them to tailored tools and resources Launch of a new technical queries escalation model that ensures our in-house team of technical staff are responding to queries from members within an agreed timeframe, and adopting a consistent approach to responding.

Brand and reputation. Value created Support for small businesses and public practitioners through our community campaign Promotion of the designation that benefits our members in their careers.

Moving forward Launch the evolution of the brand strategy and identity via the CPA Australia website, demonstrating further progress with a digitally durable identity across the member experience Deliver the visual and verbal identity to support the strategy, and enable us to compete more effectively for the next generation of talent Protect our reputation by showing we are leading through change, ready for the future, not stuck in the past with the launch of a new benefit offer for our members.

For more information about our performance in this area download the PDF. Objectives Understand the emerging changes in the accounting profession and the implications for members in the future Develop strategies, training and tools to support members through the future changes to the accounting profession Provide opportunities and pathways for business professionals wanting to develop their skills and employment options while ensuring high professional standards.

Value created The digital finance offer provides verifiable evidence of specific skill and knowledge acquisition. Being digital in form, the micro-credentials can easily be added to social media, email signatures, electronic CVs and shared via messaging and data transfer apps Agreements with other professional bodies benefit members through the sharing of common and strong interests in the advancement of the profession MY FIRM. Moving forward The new professional development subject of digital finance will be offered to Associate members on the CPA Program as a complete elective subject from Semester 2 onwards.

The course will be assessed at the post-graduate level equivalent to all other Certification courses. In addition, members will be able to take a capstone exam upon completion of all six micro-credentials at the same post-graduate level and receive a digital certificate at the mastery level in digital finance Continued rollout of the MY FIRM. Objectives Improve member experience and tailored communications based on individual member needs and feedback, enabled by data, technology and digital solutions Create a more effective local support model for members through divisions, branches and committees Develop a culture that enables a personalised and engaging member experience.

Member engagement and satisfaction. Key themes from the research included:. Members acknowledged that there had been efforts by CPA Australia over the past year to improve. This was reflected in ratings of key metrics which continued to trend up in Reputation and future career development were still the most important drivers for member satisfaction.

Members continue to want to see more work done on products and services that will help them in their careers. Member demographics. Members , Gender Female Member trust and engagement. Value created CPA Member Connect enables our members to form valuable networks and share information no matter where they are located Continued service to members duringthe pandemic Increasing manufactured capital through the upgrades to our offices.

Moving forward Delivering an enhanced website Updating and enhancing our core systems to enable us to provide greater service to members Providing members with more choice and flexibility through a mix of face-to-face and online training and events Launching our SME strategy to support members working in this sector. Our people.

Value created Supporting our people to deliver continued service to members during the pandemic Increasing social and relationship capital through strengthening our culture. Moving forward Welcoming our people back to our offices in a safe manner, in a way that works for them and retains member focus Transitioning staff to a permanent hybrid workplace model, with the ability to work from home as appropriate Maintaining a focus on wellbeing Continued focus on development of collaboration and engagement tools Development of clear organisational values and behaviours that support our people and our members.

Objectives Improve value for money, relevance and flexibility of CPD Develop and deliver high quality products and services to build careers of specific member groups. Objectives Maintain the high standards and relevance of the CPA Program for the global digital future Improve the support model for CPA Program students to attain full membership Attract high calibre Associates globally through a compelling content offer and experience for prospective members.

Moving forward In CPA Australia will launch the first iteration of an account based marketing and employer engagement model, allowing us to deliver personalised content and experiences to employers that solve their specific business problems.

CPA Program and certification. Value created Moving to online exams allowed our Associate members to continue their studies without interruption during the pandemic Implementing a new and sustainable online exam from Semester 2 , which is equivalent to those offered at test centres globally, enabled Associate members to choose an exam modality that best suited their situation.

With a particular focus on providing more support for technical issues and improving member experience with the new technology Embedding the micro-credential framework across the CPA Program The Digital Finance CPA Program elective subject will be launched in Semester 2 , and will provide a deep understanding of the technological changes and digital aptitude that members will need to possess The mentoring program will be extended to our international members in Objectives Enhance and extend the amount of policy work that CPA Australia undertakes for the benefit of members and the community they serve, to build recognition of the CPA Australia brand Advocate for member and public interests through local and international policy work.

Policy and advocacy. Value created CPA Australia reviews and shapes policy, legislation and regulation on behalf of members and in the public interest. Moving forward In , governments and regulators will begin to return to matters that were on the agenda previous to COVID and will also need to continue to deal with the economic and other impacts of the pandemic. We expect our major policy and advocacy activities in will focus around: Superannuation systems and the need for professional accounting services and advice Guidance and tools for the profession on economic recovery, assisting business, dealing with increased bankruptcies and insolvencies, and lowering unemployment Issues such as advancing broader corporate reporting reforms, climate change and sustainability risks.

Board of Directors As at 31 December Michaela Browning. Helen Lorigan. He is a non-executive Director of Vision Super. Su-Yen Wong. Financial report. Thank you. All rights reserved. Visit CPA Australia website. Contact us. Privacy Policy.

Terms of service. As such, we have chosen to adopt the third edition of the principles and recommendations early. It has been prepared in accordance with the Accounting Standards, Interpretations and other authoritative pronouncements of the Australian Accounting Standards Board and the Corporations Act Cth.

An integrated report is defined as a concise communication about how an organisation's strategy, governance, performance and prospects lead to the creation of value over the short, medium and long term. It is for organisations committed to the adoption of integrated reporting and who are embracing integrated thinking and driving innovation in reporting to be at the forefront of this evolution in corporate reporting.

The score for in the printed report is 5. Remuneration of directors and other key management personnel is available in the audited statements that form part of the Integrated Report PDF.

CPA Australia has a long history of sustainability reporting, having produced a sustainability report utilising the Global Reporting Initiative GRI guidelines since Our report was not published or audited. From to we produced separate sustainability reports that were published and assured. In as part of our commitment to integrated reporting we combined our annual and sustainability reports into one publication for the first time. Our report is an integrated report that is also prepared in accordance with the "core" requirements of the GRI Sustainability Reporting Standards.

As part of the requirements for the Act, CPA Australia is required to report annually on our workplace profile previously reported under the Equal Opportunity for Women Agency. To comment on the report, email [email protected]. About CPA Australia.