Financial reporting, auditing, assurance, and professional and ethical standards and related regulation are major influences on business decisions and economic outcomes. This is true for all jurisdictions of interest to CPA Australia. Increasingly in many countries, international and/or regional bodies make key decisions about the content of standards and the focus of related regulation. At the same time, national bodies have not conceded all of their responsibilities and functions in this regard. The External Reporting Centre of Excellence (ERCoE) ensures CPA Australia is a recognised, leading voice on standards and related regulation at the international, regional, and domestic levels with the purpose of influencing the development, issue and application of these standards and related regulation.
The CoE's role is principally to act in an advisory capacity.
Purpose of the CoE
- provide guidance on policy and issues relating to its topic area
- identify current and emerging issues relevant to the profession in a timely and effective way
- provide advice on relevant legislation requiring response / comment
- provide input and feedback on appropriate policy responses
- provide thought leadership
- address issues which impact across the profession, focussing on changes in the wider economic environment including globalisation and e-business
- be a strategic sounding board for management
- provide input on possible CPA Australia products and assist development of outputs
Areas of interest
The focus of this CoE is on all aspects of those topics that are relevant in finance, business, and accounting including:
- the content and effect of financial reporting standards
- the content and effect of auditing and assurance standards
- the content and effect of professional and ethical standards
- the content and effect of related regulation
Background and experience
Members are typically employed as:
- chief financial officer or general manager, financial reporting of large corporations
- public sector representative with extensive financial reporting and / or audit and assurance expertise
- public practitioners, ranging from accounting firm partners to sole practitioners
- financial reporting, audit and assurance, independence and / or professional standards technical staff of accounting firms, standard setters or regulators
- academics specialising in financial reporting , audit and assurance, professional and / or ethical matters
Representation
In appointing members to represent the CoE, we look for a cross-section of members from:
- corporate sector
- public sector
- public practice
- academia
- not-for-profit organisations