All for one in the new millennium

In April, our Singapore division released a web based tool, or webinar, to help companies prepare and submit financial statements in eXtensible Business Reporting Language (XBRL) format.

The webinar was developed by two local CPA Australia members to help Singaporean companies comply with new reporting requirements.

Electronic / online reporting is being rapidly adopted in other jurisdictions, and the work done on this e-Learning initiative will benefit the whole CPA Australia organisation and members.

It's a great example of CPA Australia's capacity, through its reach and diversity, to draw on a vast resource of expertise and knowledge for collective benefit.

A while ago the Hong Kong district was considering the introduction of a goods and services tax (GST). Although the idea was ultimately shelved, the Hong Kong division was able to draw on the GST knowledge of our Australia based members in assessing the suitability of such a regime.

This knowledge exchange led me to reflect on the benefits of size and reach, of how they form a two way street and what this means to members.

While it opens doors and provides members with lifelong career opportunities, equally, the combination of knowledge and skills of our members benefit CPA Australia collectively. It is a resource into which we as an organisation, or individual members, can tap.

But what does being part of this large and unique entity mean? With about 117,000 members operating in 98 countries worldwide, interpretations are sure to be varied and very personal.

One of the great things about CPA Australia is its members' wealth of diverse backgrounds, experience and skills, all of which convert to a considerable body of collective knowledge.

In an environment where business and cultural transactions are conducted on an increasingly global scale, size and diversity become invaluable assets.

The glue that binds this diversity is, of course, the CPA Australia designation. Membership means your reputation is established, you have the option of a varied and interesting career and you can work anywhere in the world.

You could move from working in Wollongong on the New South Wales south coast to the Wan Chai district in northern Hong Kong, with essentially the same support networks and other benefits of membership.

More than ever the global has become the local, and vice versa. Climate change, the skills shortage, greater reporting scrutiny, these are issues that resonate across national boundaries, industries and sectors.

These universal issues take on some very local characteristics and we as an organisation have to remain attuned. Again, we have the good fortune of being able to draw on the local knowledge and expertise of members.

I'd like to know what CPA Australia membership means to you. Does it mean helping you with the specifics of your particular country or industry? Will it help you broaden your horizons?

Post a comment to my blog to let me know how the CPA Australia designation can be more relevant, inclusive or fulfilling for you, or perhaps how it already achieves these aims.

Alex Malley FCPA is president of CPA Australia.

For further information visit Alex Malley's blog.

Reference: June 2008, volume 78:05, p. 8