Work without pay still has risk
CPA Australia members play an important role in the community by providing pro bono or honorary work. Pro bono is work for which absolutely no payment is made in cash or kind.
If an honorarium is paid it is as a fee paid in respect of a formal honorary post. Work, whether paid or unpaid, carries the same level of risk.
A vast number of not-for-profits, special interest groups and charitable organisations operate on free and voluntary input, and accountants often play a vital role in these activities. This could be acting as a voluntary accountant, an honorary auditor, an association treasurer, or member of a committee.
A claim can still be made against you if the advice provided is deemed to be defective.
The consequences of risk are more than just the risk to your personal assets they could encompass your reputation and that of the profession.
Minimise your risk:
- know the organisation and its culture
- clearly define the role and objectives
- establish that you have the competency, qualifications and knowledge base required
- develop a checklist to assess risks
- ensure you are covered by 'directors and officers' and/or professional indemnity insurance, the latter of which may not be sufficient for your purposes
- document your work
- ask questions
- pdate knowledge base
Tools and resources include:
Australian members offering accounting services, paid or unpaid, to the general public, must hold professional indemnity insurance
A call for council nominations
CPA Australia's divisional and branch directors are seeking nominations for election for divisional and branch councils. Council terms will be from 1 April 2008 to 31 December 2010.
Being on a council is a great opportunity to work on behalf of members in your division or branch.
You will represent the membership at internal and external events, and provide support to, and be involved with, the division or branch through the member liaison activities.
Nominations are invited from any associate, CPA or FCPA member of the division or branch. In the case of the divisions, the associate must have voting rights. The elections will apply to all divisions and staffed and divisional branches.
If you wish to nominate
Nomination forms are available on request from your divisional or branch director. The completed nomination form and statement needs to be lodged with the director at the location indicated on the nomination form by 5.00pm on 31 January 2008 in the place where the notice is to be given.
Where there are more nominations than vacancies, a ballot will be held in February/March 2008. Results will be announced at the annual general meeting of the relevant division or branch.
2008 divisional and branch AGMs
All CPA Australia members are invited to attend the Annual General Meeting for their division or branch to be held in March. Details will be published in the February 2008 edition of INTHEBLACK.
Greener, faster and cheaper
You can do something right now to benefit the environment and our collective resources.
It's simple: just update your member communication preferences online to opt out of receiving a full CPA Australia annual report.
CPA Australia is looking to rely less on hard copy and more on electronic communication. It's greener, faster, cheaper and efficient.
The full 2007 annual report is available online at any time after publication in late March so there's no need to store it. If you really need a hard copy, one can be sent to you. Members are encouraged to choose either the concise version or to just access the report online.
There's more information in the 2007 concise report than in the past and it's also more succinct and readable.
To change your report preferences please update your records now. Go to the CPA Australia website. Select 'Update your profile' from the 'My Links' section on the left-hand side. You will be asked to log on. (If you aren't registered, click on the blue text to do so.)
Click on 'Update your communication preferences' and scroll down to 'Annual Report'. On the drop-down menu opposite, you have three choices: Concise Version, Full Annual Report and No Report. Please select either Concise Version or No Report.
And while you are there please update all fields to make sure CPA Australia has enough information to be responsive to your needs.
Reference: December 2007, volume 77:11, p. 13 - 15
