State Chairman's News
In my last article I mentioned that as a leading and influential contributor to public policy, the Institute has developed a public policy framework, which articulates its position on the key policy areas in which the Institute is active. For the first time, this policy position has been formally articulated, approved by the Board and can be found on the Institute’s website.
Having recently attended a number of meetings in Canberra with Ministers and their staff I am convinced that the Institute must continue to actively engage with policy makers, legislators and regulators. This engagement is conducted via meetings and discussion, proactive and reactive submissions on policy and legislation, and appearances before Parliamentary and Government Committees that are considering relevant issues.
The Institute’s great strength in this regard is that we can bring independent, rigorous, thoughtful and consistent views into the public policy arena. Whilst always aware of and responsive to the immediate concerns of our members, we also understand that as a peak body operating in an important services sector of the economy, we have a responsibility to put forward proposals that are in the national interest as well as our own interest.
The areas on which the Institute has focused our public policy are: taxation, superannuation, corporate governance and ethics, regulatory reform, skills formation and workplace reform.
Innovation
Innovation is the means through which Australia will thrive in a globalised economy. Rather than being the preserve of high-technology industries, innovation is a driver of prosperity for established industries as well as newer ones, for small business as well as large, for individuals as well as corporations. A competitive tax system, labour market reforms that improve productivity and less invasive compliance regimes are initiatives put forward by the Institute.
Taxation
In order to sustain continued economic growth, Australia’s taxation system should work efficiently and effectively, and be subject to continuous review to ensure that we do not lag behind our international competitors, and that compliance costs for individuals and business are as low as practicable.
Superannuation and Wealth Management
Superannuation is a crucial element of national savings, and the Institute supports and promotes polices designed to improve the level of superannuation. Given the ageing of Australia’s population, it is essential that people are encouraged not only to save for their retirement, but also to remain productively in the workforce beyond traditional retirement age if they choose and are able to do so. The Institute also believes that the investment of individuals’ wealth should be governed by a regime that provides robust consumer protection whilst allowing people the opportunity to choose the level of risk that is appropriate for them, and avoids conflicts of interest.
Corporate Governance and Ethics
Good corporate governance goes beyond mere compliance. We believe that the legal framework alone does not encourage corporations to have regard for the interests of stakeholders other than shareholders, but a corporate culture that insists on the highest ethical standards and promotes, encourages and rewards behaviour that enhances the corporation’s reputation in the broader community. In 2007, the Institute will finalise work on an ethical framework, and we are working closely with stakeholders on ways to improve our own professional conduct processes.
Regulatory Reform
A strong regulatory framework, with statutorily independent regulators, is necessary to ensure that consumers are protected, that businesses operate effectively and that governments’ policy objectives are achieved. Good regulation provides certainty to investors, and is a key element in engendering a culture of strong corporate governance. However, when regulatory solutions are sought to all problems that may arise in the conduct of commercial affairs, the result is often the reverse of the one sought. Businesses and individuals can react to increased red tape by adopting a resentful, 'box-ticking' approach to compliance. High compliance costs are passed on to consumers. Excessive regulation deters investment and reduces Australia’s competitiveness. The Institute has been and will remain a strong advocate of the reduction of the burden of red tape, whilst supporting, and contributing to the making of, regulation that is mindful of the need to encourage economic activity whilst meeting the community’s need for robust consumer protection.
Skills Formation and Workforce Participation
The formation of and maintenance of a skilled and knowledgeable workforce is an important driver of sustainable economic growth, and maximising Australia’s position in our region, and globally. Competition for skilled labour is fierce, and will become more intense as the Australian population ages. The Institute encourages and supports measures to improve workforce participation, especially by women, and productivity, raise the average level of education and instil a culture of lifelong learning and skills development.
Andrew Arkell FCA
State Chairman
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A word from Level 32, Central Plaza One
Well, it is a pretty splendid view from up here I can tell you! Welcome to April’s Chartered Accountants Local News and the first official communication from here at our new premises in the crow’s nest of Level 32, Central Plaza 1.
Our move has gone pretty well overall, with telephones and computer links up and running straightaway, and business as usual – Chartered Accountants Program Focus Sessions, In-House Training and Public Training & Development sessions – all in place within a working week of the move. Please feel very welcome to come up and visit our new home if you are in the Central Plaza One building.
Our first really big test came at the end of last week with the Chartered Accountants Property & Construction Industry Day on Friday April 20. The event was very popular, with a massive 113 delegates attending.
Registrations are still open for our Business Forum, May 15-18, so get in quick if you are keen to see the new-look venue.
What else has been going on?
Elsewhere around the state we are busy gearing up for the Winter Tax Schools in Gold Coast, Rockhampton (Yeppoon) and Gympie. The Brisbane offering of this program has been expanded and now forms Day 4 of the Business Forum, titled 'Taxing Times'. We look forward to seeing you there. Please visit the website for dates of the regional Tax Schools and other sessions:
calendar
And with the Easter break now long forgotten by most of us, we are now setting our sights on financial year end and the run-up to June 30.
Have a good month.
All the best
Penny Ellenger
Acting General Manager, Qld
Ph: 07 3233 6509
pennye@icaa.org.au
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New Premises
Great view from Central Plaza 1
Reception area
Training rooms 2 & 3
Delegates enjoying morning tea
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Ernst & Young partner recognised in Women in Business awards
The significant achievements of prominent Institute of Chartered Accountants Queensland Council Member and Ernst & Young partner Jenny Parker have been recognised by Queensland Business Review in their recent 'Women in Business' Awards.
Announced in March, the awards recognise the business, community and personal achievements of Queensland business women and Jenny was a finalist in the professional services category.
Jenny leads Ernst & Young's leading risk advisory services practice in Queensland, and plays a key role in the professional development of women both within the firm and the broader profession.
Through a 20 year involvement with the Institute, including a year as regional chairman in 2003, she has a high regard for the role the Institute has played in her personal and professional development.
'The networks I have established through the Institute are invaluable, both at a personal and professional level,' Jenny said.
'I think it is extremely important that we give back to a profession which has been good to us at both a personal and professional level.'
'Often we think someone else is going to look after our professional associations which we value highly – I would encourage all chartered accountants to have an involvement as it is truly rewarding.'
In addition to her numerous major client commitments and contributions to the broader profession, Jenny is also a highly regarded participant in community organisations, including a past board member of not-for-profit respite and palliative care organisation Zoe’s Place, and current chair of the Mater Mothers’ Hospital Capital Campaign.
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Guaranteed acceptance life insurance for members - now up to $1 million of cover
You may already feel secure with the insurance you have through your superannuation or other policies. However, like me, you may be surprised to learn that a recent study found over 5.3 million Australians1 were under insured, or worse still, had no insurance at all.
That’s why we'd like to remind you about the Professionals Life and Living Benefit Plan^, provided by ING.
The Plan offers life insurance cover - now up to $1 million* plus the option of a tax free lump sum - and a living benefit - if you suffer a specified critical illness.
For a limited time ING is also offering a $10,000 Immediate Assistance Benefit in the event of a valid claim. This offer is exclusive to members who apply before 6 May 2007.
Cover is simple to obtain. There are no intrusive health questions, no time consuming medicals, and acceptance is guaranteed for members aged between 21 and 59 and who are permanent residents of Australia.
However benefits under the policy are not paid if your death, terminal or critical illness is related to a condition that you should have been aware of (or a reasonable person would have been aware of) and that existed 5 years before your policy start date. For full details of this exclusion, the premium tables and all other details about this policy, please refer to the Short-Form Product Disclosure Statement enclosed. This brochure also provides details about the additional benefits provided at no extra cost to members.
If you require assistance with determining the suitability of this product for your circumstances or the amount of cover needed, I recommend that you seek the advice of a licensed financial advisor. The Institute provides a Financial Planning Specialists Directory which lists the contact details of Chartered Accountant Financial Planning Specialists by state and suburb.
For immediate cover or further information, simply call ING on 1800 500 229 weekdays between 9.00am and 5.00pm (Sydney time).
^ The Professionals Life and Living Benefit Plan is issued by ING Life Limited (ABN 33 009 657 176, AFSL 238341) (ING). This material is of a general nature and is not based on any consideration of your objectives, financial situation and needs and you should consider whether it is appropriate for you. ING recommends you read the Product Disclosure Statement before deciding to acquire the product.
* To be eligible you must be a member of the Institute of Chartered Accountants in Australia, aged between 21 and 59 years of age and a permanent resident of Australia.
The Institute of Chartered Accountants in Australia receives revenue on member-generated activity through the Member Benefits Program. This revenue is applied to maintain the quality and diversity of the Institute’s service, further benefiting you professionally, personally and in your career and business. All cost incurred in marketing specific offers from the Member Benefits Program are borne by the program partner.
ING will advise the Institute of the names and member numbers of Chartered Accountants who take up this offer, for entry on the Institute’s Customer Relationship Management database. The Institute’s Privacy Policy can be viewed at Privacy Policy
Source
1. Investment and Financial Services Association Cost of Underinsurance Project – Analysis of Life Insurance Needs – Rice Walker Actuaries May - 2005.
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Business Forum 2007
Don't miss the opportunity to develop your business skills with sessions delivered by a wide variety of professional facilitators and industry leaders. Each day focuses on various aspects of your business.
Over 30 sessions over 4 Days
Day One Serious Business - amongst others hear from Chris Caton on matters economic and David Miller on IR concerns
Day Two Risky Business - topics covered include Auditing issues, Professional Indemnity, and W H & S
Day Three Smart Business - share with top business identities how business is done in the Sunshine State
Day Four Taxing Times - Brisbane Winter Tax School with options. All the tax updates and more.
Create a program that really delivers for you and earn up to 24 qualifying hours. Register now and you will be set for an event that will update you on professional and technical issues in a practical way, help you manage your business and expand your support within the business community.
New venue
Be one of the first to visit the Institute's new state of the art event centre on level 32, Central Plaza 1. The views alone are priceless!
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Property and Construction Industry Day
The first major event to be held at the Institute's fantastic new venue was Property and Construction Industry Day held on 20 April. The program was a great success and the conference was sold out one week prior to the event. The sessions provided essential information for those who work in or advise those involved in property investment and building services.
Thank you to all our speakers for sharing their knowledge and experience and to our wonderful sponsors Herron Todd White and Robert Half International.
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Training & Development Update
Charter Your Career Series
Central Plaza One, Level 32, 345 Queen Street, BRISBANE
This is a must attend series for young professionals seeking to further develop their career. Structured as evening and breakfast sessions with networking opportunities, join us in a series of thought provoking seminars, designed to challenge, inform, inspire and motivate.
Get on board and charter your career...
Session 2 : How to get better at what you already do - having a coach or mentor
Date & Time: Tuesday June 5th, 7.00am registration & networking breakfast, 7.30am - 9.30am session
Presented by: Stephenson Mansell Group
Session 3: Business networking for success
Date & Time: May 22nd , 6.00pm - 8.00pm followed by networking drinks 8-9pm
Presented by: Direct Incite
Session 4: Creating an unstoppable attitude
Date & Time: Tuesday June 19th, 7.00am registration & networking breakfast, 7.30am - 9.30am session
Presented by: Real Potential
2-Day Partner Program
Distance Learning Commences Thursday 26 April 2007
2-Day Workshop on Thursday 24 & Friday 25 May 2007
Central Plaza One, Level 32, 345 Queen Street, BRISBANE
An elite two-day program designed to help you, as a partner of a Public Practice firm, comprehend and address the leading practice management issues facing the industry today. As a follow-on program to the Public Practice Program (PPP), this workshop will also act as a refresher to allow you to renew ideas you have gained through the PPP and the commercial experiences, as well as an opportunity to network with your peers and senior partners.
To be eligible to participate in this workshop, you need to have been a partner for at least 5 years in a Public Practice firm.
For further information on these two events please contact Kelly Scavuzzo on 07 3233 6515 or kellys@icaa.org.au
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Chartered Accountants Advisory Group
Are you facing unfamiliar or challenging professional circumstances, uncertain about a career decision or under pressure to act unethically?
Talk to someone who knows. Contact the Chartered Accountants advisory group in Queensland. This is a confidential and free service, staffed by highly experienced and specially trained senior Chartered Accountants from the local region.
If you have a professional or ethical issue you are unsure how to address, please do not hesitate to call and discuss it with one of the group members.
To be placed in contact with a Chartered Accountants advisory group counsellor for guidance, contact Robina Lawson on 07 3233 6516 or email: robina@icaa.org.au
(The Chartered Accountant advisory group counsellors will not address technical matters or personal issues.)
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Special member offers on private health insurance and business banking- coming soon
The Institute of Chartered Accountants in Australia is currently finalising business partnerships in the categories of health insurance and business banking.
Special member offers on private health insurance and business banking- coming soon
The Institute is always looking to add value to the membership by providing product and service offers that save the members money, both in their business and personal lives.
As part of the member needs research conducted in 2006, Chartered Accountants were asked to express their level of interest in a range of new product/service opportunities. Two of the highest rating categories were health insurance and business banking.
As a result, the Institute is in the process of developing business partnerships with both a health insurance and a business banking provider. One of the key benefits of these partnerships will be the provision of exclusive product/service offers to Chartered Accountants.
The Institute is currently tendering to get the best deal for members. The tender process should be completed by the end of May and we anticipate that formal product offerings will be available to members in June.
In the meantime we welcome and encourage your suggestions for new additions to the Member Benefits Program. Please send any feedback and recommendations to memberbenefits@icaa.org.au
For information about the Member Benefits Program, visit http:/www.charteredaccountants.com.au/benefits or call the Institute on 1300 137 322.
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Chartered Accountants Local News – Queensland
Contents
- State Chairman's News
- A word from Level 32, Central Plaza One
- Women in Business Awards
- Life insurance for members
- Business Forum
- Property & Construction Industry Day
- Training & Development Update
- Chartered Accountants Advisory Group
- Member Benefits
- New Premises
- Stop Press - Facilitators needed
- New Members
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STOP PRESS******STOP PRESS
The Chartered Accountants Program needs your Help!
Following record (yet again!) enrolment numbers into the AAA107 Audit & Assurance module, we are desperately seeking qualified Auditors willing to act as facilitators for focus sessions in this module for Brisbane and the Gold Coast. Focus sessions will commence the week of 2 July and we will pay you and give you Training & Development hours.
For more information please contact Karen Seymore on 07 3233 6510 or karens@icaa.org.au
New members admitted
to The Institute
January
Abhishek Aggarwal
David Avery
Andrew Baillie
Emily Barnes
Stephen Bell
Nicola Bingham
Amanda Brussow
Lynn Carr
Benjamin Chesters
Laurita Chu
Marli Cronin
Michelle Delahunty
Brendan Eckert
Kathryn Elliott
Kelly Evans
Neil Farbridge-Currie
Lyndon Garbutt
Angela Harris
Kim Hecht
Chantelle Hill
Wayne Kendall
Julie-Ann Kernohan
Melissa Klupfel
Allison Learmonth
Kathryn Lenahan
Alice Mellick
Megan Ossendryver
Warren Pereira
Rachel Petersen
Kathryn Porteous
Scott Prebble
emily Requadt
Hayden Rudd
Angela Savas
Daniel Sheahan
Andrew Tathem
Justin Vianello
Tamara Ward
Anita West
February
Liam Baynes
Rick Bischoff
Amanda Braithwaite
Pearl Cargill
Wade Clyne
Amy Congram
Leith Cowie
David Cupit
Grant Dobbrick
Julie Dorney
Rhiain Garrihy
Melinda Huston
Gregory Jewell
Megan Long
Jason Macdonald
Rebecca Malone
Lisa McKenzie
Kate Millar
Kathleen Mok
Adam O'Connor
Jillian O'Rourke
Amy Pryke
Elizabeth Ryan
Robyn Sallaway
Adam Smith
Michelle Turvey
Terri Waters
David Wright
March
Charlie Appleby
Nicole Beatty
Efrat Berenblum
Kristina Brewer
Timothy Bromiley
Tanya Cain
Alexandra Dawson
Miriam Harris
Stephen Hogg
Belinda Ide
Bruce Jagga
Bobby-Lee Kennedy
Lisa Keys
Tina Kirwan
Ryan Latchford
Jonathan Lees
Belinda Matthews
Samir Mohammad
Anne Murdoch
Kelly Newsome
Katrina Piva
Martin Platz
Rebecca Pole
Michael Robbins
Scott Savage
Charles Strickland
Lindsay Thompson
Anna Tran
Thomas Voysey
Nishanthi Wijeratne
Carrie Winter
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Editor: Wendy Perriman
Ph: 07 3233 6515
Email: wendyp@icaa.org.au
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