5 July 2019
CPA Australia’s Board of Directors met recently and would like to take this opportunity to update you on the following matters discussed at the meeting.
- CPA Australia Professional Standards Scheme
- CPA Program enhancements
- CPA Congress 2019
1. CPA Australia Professional Standards Scheme
The Board is pleased to advise that on 21 June 2019, the Professional Standards Councils (PSC) confirmed its approval of CPA Australia’s application for a new five-year Professional Standards Scheme (Scheme). Before it can take effect, the Scheme application must first be authorised by the relevant Ministers in each Australian state and territory for gazettal.
The new Scheme is expected to commence on 23 December 2019 when the current Scheme expires, with the date to be confirmed upon gazettal.
The new Scheme will be more inclusive than the current Scheme and will enable all public practitioners who conduct public accounting services, hold a CPA or FCPA designation, and have a current limited or full Public Practice Certificate to participate. However, the scope of eligibility will depend on the public accounting services provided. A new Scheme eligibility self-assessment tool will become available on the CPA Australia website upon gazettal.
The Board is committed to the Scheme as it provides increased consumer protection, encourages best business practice and protects CPA Australia members by capping the civil liability of eligible Scheme participants.
2. CPA Program Enhancements
The Board supports the strategic goal of maintaining the high standards and relevance of the CPA Program. In line with this, we are pleased to note some of the initiatives designed to
assist the digital transformation of the CPA Program.
Recognising the need to ensure students have up-to-date resources and in-semester support, CPA Australia has partnered with KnowledgEquity to provide CPA Program candidates with a suite of guided learning resources in Semester 2 2019.
Candidates will receive access to a comprehensive library of online resources and learning tools, including webinars, quizzes, video tutorials, study notes and practice tests from the start of the semester.
Further support is available through our Registered Tuition Provider, PDL Academy, who will continue to offer face-to-face CPA Program tuition as well as online Practice Management tuition and Foundation exam tuition. Full details are available to candidates through the website.
Digital education app – Quitch
The initial pilot of mobile learning app Quitch, for candidates enrolled in Ethics and Governance and Practice Management in Semester 1 2019, was a great success. More than 1980 candidates downloaded the app during the pilot phase with results showing that candidates who downloaded Quitch scored higher in their exams, on average, than those who did not download it.
Quitch users enrolled in Ethics and Governance demonstrated scores 8.55 per cent higher than non-Quitch users, while those enrolled in Practice Management demonstrated scores 10.11 per cent higher.
In light of these encouraging results, we are extending the pilot phase of Quitch in Semester 2 2019 to all four core subjects in the CPA Program: Ethics and Governance, Financial Reporting, Strategic Management Accounting and Global Strategy and Leadership. Quitch will also continue to be available to candidates enrolled in Practice Management.
3. CPA Congress 2019
The theme for CPA Congress 2019 is Business as Unusual. Building on the success of 2018’s World Congress of Accountants that focused on the future of the accounting profession, this year’s CPA Congress looks at the digital world and the future of money, and explores how technology, automation and artificial intelligence are transforming business.
Delegates will hear from renowned keynote speakers and industry specialists and have the chance to participate in a range of discussions, immersive workshops and masterclasses.
CPA Congress 2019 opens in Fiji on Thursday 19 September and runs in 13 locations across seven countries around the world, concluding in London on Saturday 9 November. For more information and bookings, visit the website.
Peter Wilson AM FCPA
President and Chair
On behalf of CPA Australia’s Board of Directors