The Institute recognised the need to become more efficient to respond to the pace of change in the accounting profession. The fit for the future program was launched in 2006, aiming to improve operational effectiveness across every part of the Institute''s activities. Fit for the future included reviews of:

• Products and services
• Training & Development
• By-laws
• IT
• People and culture
• Careers marketing
• The Chartered Accountants Program.

Other business improvement initiatives included:

• Creating a projects management office to ensure better integration and cooperation of the Institute's activities
• A new risk management framework
• Measures to improve financial reporting
• Incorporating event delivery, customer transactions and the customer service centre within a new customer service division
• Moving the Institute's Sydney and Brisbane offices to new premises, giving staff and members access to state-of-the-art facilities and technology.

End to end

The end to end project was a key operational improvement in the fit for the future program.

This project focused on every point of contact into and out of the Institute. Using advanced management tools, a process review program tracked and analysed all aspects of the customer experience throughout the Institute. It also looked at how departments work together, and established formal service level agreements.

This process moved into its final stages in mid-2007, allowing the Institute to forecast, plan and schedule work through management operating systems, tailored to business areas. The result is increased efficiency and accountability within the Institute, better service for members, and a more effective investment in the activities that matter to members.

Royal Charter and by-law amendments

The Institute conducted a complete review of its Royal Charter and by-laws. The priority was to ensure a nimble governance structure, allowing fast decision-making in today’s fluid marketplace.

Several recommendations came out of the review and, in March 2007, members were asked to approve a number of enhancements to the Charter and bylaws. Voting support of 96 per cent saw the acceptance of several measures, such as protecting the Institute’s tax status, streamlining decision-making and enhancing the rigour and transparency of the professional conduct function.

Business partner program revenue

Research into member needs, and a more strategic approach, saw the business partner program generate revenue of more than $1.7million (a 30 per cent increase on 2005-6).

Meanwhile, research indicated members’ desire for a health insurance offer, so a partnership program with HCF was agreed, providing significant cost savings to members. Further partnership programs are in development, including business banking and general insurance offers.

Revenue generated from the business partner program is reinvested to support advocacy and lobbying on behalf of members, and to enhance products and services.