Protect, promote and enhance the integrity of the designation
To support this goal, there are four initiatives.
Member retentionAll member satisfaction
2020 actual: 98.3%
2021 target: 98.3%
2020 actual: 6.89
2021 target: 7.08
1.1 Highlight the benefits of being a CPA
The 2019 acquisition campaign highlights the benefits of being a CPA to prospective members. It was rolled-out from November 2018, across multiple channels, including TV, print, digital, social media and public displays, and is supported by career events held at university campuses across Australia and New Zealand.
We are enhancing our relationship with Qantas, by including digital and electronic advertising in business lounges and in-flight video, that will include video interviews with CPAs. Our podcasts will also be available on Qantas Inflight Entertainment.
- Profession Sessions are held in multiple locations across the globe each year, to bring students together with employers and recruiters, for career advice, panel discussions and workshops about the profession and the value of the CPA designation.
A community campaign was launched across metro and regional TV, radio and social media in Australia, to support CPA members working in public practice during the COVID-19 outbreak.
A radio campaign in Melbourne (3AW) and Sydney (2GB) also highlighted how professional accountants can assist small businesses with navigating the application process for government subsidies.
December 2021 – launched CPA Australia Instagram presence to engage with the next generation of accountants - at @cpaaustralia.
Complements our social media following on Facebook, LinkedIn and Twitter.
More than 5800 followers by February 2022.
Exploring a Tik Tok presence in 2022.
1.2 Restore member confidence in the brand
We ran a public practice campaign from 30 April to 23 June, across TV, radio, digital, regional press and local cinema. The campaign focused on the broad range of services that CPAs offer and aimed to increase the number of people who contact public practitioners for professional services. The campaign was relaunched on TV and radio for four weeks from mid-August to mid- September 2019.
Our INTHEBLACK magazine has undergone changes based on member feedback. From July 2019, INTHEBLACK reflected a new look and new content with an increased focus on members, technical accounting information, career advancement and tracking economic trends.
INTHEBLACK transitioned from a print magazine to a digital flipbook from July 2020. The digital flipbook retains our high-quality content but is displayed in an interactive and sustainable format that members can enjoy on PC, tablet or mobile, and is delivered direct to members’ inboxes.
We sponsored the accountantsdaily.com Australian Accounting Awards in 2020 and 2021.
In 2021, we celebrated our 135thanniversary, as well as 65 years in Hong Kong and Malaysia.
A special edition of INTHEBLACK was released, to coincide with October’s Mental Health Awareness month, that featured articles, resources and tools to assist members in bolstering their mental wellbeing.
Winner - Mumbrella award for ‘Special edition of the year’
The Summer Special and Jump Start editions of INTHEBLACK were published in January 2021, to help members gear up for 2021.
1.3 Implement improvements to internal controls and procedures
The Board approved that existing branches in Northern Territory, New Zealand and Europe be afforded the status of divisions.
Members voted at the 2019 Annual General Meeting, to amend Article 60 of the Constitution to include a provision requiring the Board to call a meeting of members within three months of exercising its emergency powers to appoint directors.
Continuity of the CPA Australia Ltd Professional Standards (Accountants) Scheme, which limits eligible public practitioner’s civil liability, was ensured. The Scheme promotes, upholds and improves professional and ethical standards, protects public interest and limits the occupational liability for participating members.
The new Scheme commenced on 23 December 2019, and requires us to continually demonstrate good governance, monitor and manage risk management strategies, implement a compliance program, enable a complaints and disciplinary program, and comply with regulatory reporting requirements.
To support the Scheme, we will improve its data collection and analysis techniques to inform risk management strategies, which seek to continually improve practitioner and public interest outcomes. The Scheme also requires us to inform and educate members on eligibility and obligations, including holding professional indemnity insurance and to ensure members notify clients on the effect of the Scheme.
We have developed a self-assessment tool to assist members in determining their eligibility for the Scheme.
1.4 Strengthen mutual recognition agreements and communicate rationale of international designation
The mutual recognition agreement (MRA) with the National Association of State Boards of Accountancy (NASBA), American Institute of CPAs (AICPA) and U.S. International Qualifications Appraisal Board (IQAB), gives eligible CPA Australia members the opportunity to practice in the United States. We are also talking with the AICPA, about expanding the agreement beyond citizens and legal residents of Australia and New Zealand.
In April 2021, we signed a Member Pathway Agreement (MPA) with the Association of National Accountants of Nigeria (ANAN).
In July 2021, CPA Australia and the Institute of Chartered Accountants of India (ICAI) renewed their MRA for another five years, through a virtual signing ceremony.
MRAs with professional bodies around the world remain a focus of the Business Development team. We have membership arrangements with 24 international accounting bodies across the globe.
These agreements add value to the CPA designation and create opportunities for members.
Between August and November 2018, we signed collaboration, recognition and pathway agreements with nine professional accounting organisations in Asia.
- Philippines Institute of Certified Public Accountants – Mutual Pathway Agreement
- Taxation Institute of Hong Kong – Memorandum of Understanding – Renewal
- Chinese Institute of Certified Public Accountants – Memorandum of Cooperation
- Australian Trade Commission – Shenzhen - Memorandum of Cooperation
- RCCPA – Taiwan – Mutual Pathway Agreement – Renewal
- Nexia Trans-Asia - Memorandum of Understanding
- Institute of Chartered Accountants of Sri Lanka – Mutual Recognition Agreement
- Institute of Certified Management Accountants of Sri Lanka - Mutual Pathway Agreement
- Institute of Chartered Accountants of Bangladesh – Mutual Pathway Agreement
In September 2019, we signed a MPA with the Institute of Certified Public Accountants of Kenya (ICPAK) – our first formal relationship with a professional body from Africa.
In October 2019, we renewed the Cooperation Agreements with the Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA) and the National Accounting Council (NAC).
In 2021, we signed Mutual Pathway Agreement with Association of National Accountants Nigeria Renewed Mutual Recognition Agreement with Institute of Chartered Accountants of India