Protecting the integrity of the designation

Protect, promote and enhance the integrity of the designation

To support this goal, there are four initiatives. View CPA Australia's progress on each of these below.

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10.00am - 10.05am

Become a CPA

The 2019 acquisition campaign highlights the benefits of being a CPA to prospective members. It rolled-out from November 2018 across multiple channels, including TV, print, digital and social media and public displays, and is supported by career events taking place at university campuses across Australia and New Zealand

In-flight campaign

CPA Australia is enhancing the relationship with Qantas to include digital and electronic advertising in business lounges and in-flight video, which will include video interviews with CPAs. CPA Australia podcasts will be available on Qantas Inflight Entertainment.

Profession Sessions

Profession Sessions are held in multiple locations across the globe each year and bring together students with employers and recruiters for career advice, panel discussions and workshops about the profession and the value of the CPA designation.

10.00am - 10.05am

1.2 RESTORE MEMBER CONFIDENCE IN THE BRAND

Public practice campaign

CPA Australia ran a public practice campaign from 30 April – 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.

INTHEBLACK

INTHEBLACK magazine has undergone changes based on member feedback.

From July 2019 INTHEBLACK reflect a new look and new content with an increased focus on members, technical accounting information, career advancement and tracking economic trends.

ITB ITB

10.00am - 10.05am

1.3 IMPLEMENT IMPROVEMENTS TO INTERNAL CONTROLS AND PROCEDURES

Whistleblowing program

An independent third-party whistleblowing program has been implemented, and after an internal audit review, CPA Australia is moving to a fully outsourced internal function.

Establishment of new divisions

The Board approved that existing branches in Northern Territory, New Zealand and Europe be afforded the status of divisions.

Amendment to Constitution

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.

Professional Standards Scheme application

Ensure the continuity of the CPA Australia Ltd Professional Standards (Accountants) Scheme, which limits eligible public practitioner’s civil liability. The Scheme promotes, upholds and improves professional and ethical standards, protects public interest and limits the occupational liability for participating members.

The new Scheme, commencing on 23 December 2019, requires CPA Australia to continually demonstrate good governance, monitor and manage risk management strategies, a compliance program, a complaints and disciplinary program, and comply with regulatory reporting requirements.

To support the Scheme, CPA Australia 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 CPA Australia 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. Find out more.

We developed a self-assessment tool to assist members to determine their eligibility for the Scheme.

10.00am - 10.05am

1.4 STRENGTHEN MUTUAL RECOGNITION AGREEMENTS AND COMMUNICATE RATIONALE …

Mutual recognition agreement with AICPA

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 US. We are also talking to AICPA about expanding the agreement beyond citizens and legal residents of Australia and New Zealand.

Global collaboration agreements

MRAs with professional bodies around the world remains a focus of the Business Development team. CPA Australia has 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, CPA Australia signed collaboration, recognition and pathway agreements with nine professional accounting organisations in Asia.

1. Philippines Institute of Certified Public Accountants – Mutual Pathway Agreement
2. Taxation Institute of Hong Kong – Memorandum of Understanding - Renewal
3. Chinese Institute of Certified Public Accountants – Memorandum of Cooperation
4. Australian Trade Commission – Shenzhen - Memorandum of Cooperation
5. RCCPA – Taiwan – Mutual Pathway Agreement - Renewal
6. Nexia Trans-Asia - Memorandum of Understanding
7. Institute of Chartered Accountants of Sri Lanka – Mutual Recognition Agreement
8. Institute of Certified Management Accountants of Sri Lanka - Mutual Pathway Agreement
9. Institute of Chartered Accountants of Bangladesh – Mutual Pathway Agreement

In September 2019 CPA Australia signed Member Pathway Agreement (MPA) with Institute of Certified Public Accountants of Kenya (ICPAK) – our first formal relationship with a professional body from Africa.

In October CPA Australia renewed the Cooperation Agreements with the Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA) and the National Accounting Council (NAC).