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Stakeholder Engagement
Stakeholder engagement is an important part of our sustainability agenda. To enhance and promote the role and reputation of Chartered Accountants we actively engage with a wide range of stakeholders.
Stakeholder dialogue takes many forms. Some examples are:
Members
We provide members with timely access to information about the activities of the business, management and governance, as well as changes in legislation that may affect the profession. Key communication channels include 11 issues of Charter magazine; regular technical e-newsletters for tax, accounting and audit, financial planning and superannuation; fortnightly segmented e-Bulletins; monthly local e-newsletters; face-to-face visits from a dedicated member relations team; training and development seminars; conferences; and our website.
The annual general meeting is held in Sydney, New South Wales, with an open invitation for members to attend and question the president, deputy president and CEO. The external auditor is also required to attend and is available to answer members’ questions regarding the conduct of the audit and preparation and content of the audit report.
The Chartered Accountants Advisory Group provides confidential free counselling for members experiencing difficult ethical or professional situations. This year it assisted more than 80 members across the country.
Young Chartered Accountants
Our Young Members Committees help young Chartered Accountants establish themselves in the accounting profession by enhancing professional skills and mentoring them. The committee aims through its programs to also help members network across the legal, engineering and finance professions, as well as with local politicians. During the year the Institute commissioned research to better understand factors affecting recruitment, performance, retention and attrition rates among young members.
Women in accounting
A more balanced gender membership base is good news for the accounting industry. This is of particular importance and significance in the current skills shortage environment in which we operate.
To date the proportion of Chartered Accountants who are women stands at 32 per cent, while in 1998 it stood at only 19.7 per cent.
Government, industry bodies and regulators
We maintain strong relationships with leading industry bodies and stakeholder groups. We have a seat at the table of the:
- Regulatory Discussion Group, dealing with matters affecting financial reporting and auditing
- Australian Securities Exchange Corporate Governance Council
- Australian Institute of Company Directors Financial Reporting Committee
- Business Coalition for Tax Reform
- All major ATO, the Inspector General of Taxation and Treasury taxation forums
- Trans-Tasman Accounting Standards Advisory Group.
We contribute to public policy development by engaging actively with policy makers through written submissions, appearances before parliamentary committees, face-to-face meetings, involvement in media debates and in legislation and regulation development.
Direct engagement with political stakeholders is conducted and coordinated by a manager of government relations, based in Canberra. Institute executive management and technical experts are also involved, as necessary.
To offer guidance on the practical implications of regulation and legislation, we also meet regularly with stakeholders across government, Treasury, the Financial Reporting Council, the Australian Auditing Standards Board, the Australian Accounting Standards Board, the Australian Securities and Investments Commission, and the Australian Prudential Regulation Authority.
The Institute is also represented on the Chairs Committee, which comprises ASIC, CEOs of the Big 4, representatives of the G100 and professional accounting bodies. The Committee aims to achieve better liaison between the profession and ASIC, with the Institute representing the interests of members outside the Big 4.
Global engagement
The Institute connects with global research and advocacy through our role as founding member of the GAA. Through the Joint Accounting Body (JAB) we ensure Australia is well represented on the International Federation of Accountants Board and its key committees and boards. The JAB also ensures representation on the Confederation of Asian and Pacific Accountants and the ASEAN Federation of Accountants.
The Institute’s education and training pathway is the preferred choice for industry professionals.
The Institute is leading the debate in the areas that matter most to business and the accounting profession. 
The Institute produces an invaluable suite of tools, guidance, products and services to help members in their work. 
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