Celebrating excellence

By Clare Ross

We talk a great deal about the Institute’s framework for upholding high standards of conduct and behaviour as Chartered Accountants. Members are familiar with relevant professional and technical standards and the Institute’s compliance programs, including quality review, training and development audit, and the professional conduct process.

We’ve focused on the fundamentals of our self-regulatory role in recent editions of Charter. Facing the Professional Conduct Tribunal is a powerful disciplinary deterrent – the sharp edge of the sword. Members who breach their professional obligations are publicly named in this magazine. To be admonished by your peers amounts to professional dishonour.

It is equally important to talk about the positives of our professional framework and celebrate excellence. It is a personal triumph to be admired by your peers and the Institute has a number of avenues for members to be recognised for their achievements, for demonstrating leadership and for upholding the reputation of the profession.

The journey to FCA

Peer recognition is an extremely powerful driver of professional excellence. Achieving the designation of Chartered Accountant sets members apart in the business world and is greatly respected in the community. Advancement to Fellow of the Institute is tangible acknowledgement of a member’s ongoing professional standing, as well as their significant contribution to the profession.

Elevation to FCA also acknowledges the leadership demonstrated by a member in their career and their involvement in the Institute. To be nominated for FCA you must have 10 years continuous membership and have held a senior position for seven of those years.

President Rachel Grimes FCA says she was extremely proud when she became an FCA. “Accountants are generally reticent about what they do and their career highlights, so there’s an enormous sense of pride in receiving these”. Grimes says that whether you’re in the Big 4, work for a corporate, or operate a small practice, having FCA after your name is a universal distinction. Around 6500 members are in this elite group.

Grimes says recognition by the Institute often draws members back to their professional body. “They realise that their career has reached a point where they can share their experiences and expertise. Our FCAs are experts in their field, they have a niche play, and they’re willing to give back to the profession.”

Many FCAs provide guidance and feedback on our policy development. Some focus on mentoring and other roles essential to the delivery of the Chartered Accountants Program. For example, both Grimes and recently appointed FCA Rosemary King share a passion for assisting the next generation, and have both enjoyed the satisfying job of being a workshop leader.

“My love is teaching, and having been through the Chartered Accountants Program myself, I have a lot of empathy for the candidates. I just love the contact with students through my roles as workshop leader and as a CA Study Masterclass facilitator,” King says.

Grimes says she gets great energy from assisting young people. “Our candidates think everything is achievable. They’re strapped on ready to go straight to the moon. That’s the positive factor that hanging out with young people gives you.” The Institute congratulates staff members Rosemary King, Michael Jacks and Jeanette Dawes on becoming FCA this year.

On the ladder of distinction, it’s appropriate to single out individuals who rise above and beyond the high standards of all Chartered Accountants, whether they hold the designation of CA or FCA. We do this through a range of highly regarded awards.

President's prize

The Institute has two awards for individual distinction. While a Fellowship acknowledges length of service, the President’s Prize recognises the outstanding contribution of a member under 35.

“We encourage members to recognise outstanding contributions by young Chartered Accountants,” says Grimes. The prize is offered to a member who has helped raise the profile of the Institute and that of Chartered Accountants. For example they may be recognised as an ambassador for the Institute or have been instrumental in recommending initiatives. “I congratulate Angela Wagland CA on winning the President’s Prize for 2011.”

The prestigious annual prize offers platinum subscription to the Chartered Accountants Leadership Academy for one year.

Meritorious service awards 

These awards recognise outstanding service by a Chartered Accountant to the Institute and/or the profession beyond the normal expectations of a particular office. In 2011, the Institute acknowledged Jonathan Teck-Cheng Chi FCA, particularly for his contribution as chair of the Singapore Members’ Group. Also acknowledged was Bill Sheehan FCA for his work on the QLD Regional Council and the Institute’s regional advisory group. “The Meritorious Award is a wow factor and takes membership to the next step. You really are a stand-out and it’s just an incredible accolade,” said Grimes.

Not-for-profit scholarships 

The Institute’s scholarship program is an additional reward scheme to recognise and sponsor best practice. As an education partner with the Australian Scholarship Foundation (ASF), the Institute is pleased to support the ASF’s objective of enhancing the management and accountability of not-for-profit (NFP) organisations. Through the ASF, we offer a range of scholarships, and Institute members who work in the NFP sector are also welcome to take advantage of these offerings:

  • A place on the Chartered Accountants Program for a colleague with potential
  • 100 hours of professional development via our suite of training and development short courses offered nationally, made available to five scholars for up to 20 hours each
  • Two places in our flagship three-day Business Forum, held around Australia each year.

Members can apply through the ASF’s website scholarships.org.au. 

Article last updated 22 December 2011