Simon Says
Summer Heights Low - Daylight Saving……..here we go again !!!!! Not sure about you, but I am personally sick of waking up with the light at 5am each morning now, when it would be really good to have that hour latter in the day. Let us at least, have a trial and then do the research for the South East Corner. The answer really is about splitting the state, as of course it would not work in FNQ and out west. Daylight saving is just another one of those annoyances that we all have to deal with particularly in Queensland and how the Smart State interacts with the other States on a business level. All jokes aside there is enormous lost productivity, people are working in some cases longer hours, the inconvenience of working out who is on what time zone and the inherent communication difficulties it creates around communication around lunch breaks, starting and finishing times and generally delivering confusion on a national basis. I speak with many people who travel to Sydney for 9am meetings and they have the enviable task of waking up at 3:30am and getting on the 5:30am flight to Sydney, which gets in at 8 am just in time to join the largest taxi queue in the world. While this can be done I really feel it does not engender the greatest employee loyalty over a sustained period. As I have said before, the short-term solution to the travel dilemma is of course to go down the night before which seems great in theory but provides a considerable cash injection for the hotel industry of NSW. Put simply Queensland businesses are supporting the NSW hotel and restaurant business so that our southern colleagues can enjoy their evening harbour sails, golf games or twilight tennis competitions. To put some balance into the discussion, please have a look at the 273 page report of the State Government into their decision as to why they won’t be introducing Daylight Saving, the link is: Daylight Saving Reseach Now, I know you are all saying 'Simon get over it' but if you are interested in a trial of daylight savings, you can either support or not support the Parliamentary Electronic Petition that is doing the rounds, the link is: Current Petitions I am brave enough to suggest again a radical solution that will please all. Spilt the State at 'the 26th parallel'. It naturally splits at this point anyway because this is where South Australia bites into Queensland. It keeps the South East corner in the same time frames for business with Sydney and Melbourne. So instead of having all the confusion for the tourist sectors at Coolangatta and Tweed Heads, the lesser impact will be between Gympie and Maryborough. Have a look at the 26th parallel on the map and see what you think. It will also turn the great township of Maryborough into the capital of the new SE Corner for North Queensland, well at least for Summer anyway. Changes to Queensland Associations’ laws Recent changes in Queensland to The Associations Incorporation Act 1981 (Act) have simplified the annual financial reporting for many of the 20,000 registered associations in Queensland. Previously, the Act treated all associations equally requiring the same financial reporting no matter their size, activity or revenue. Changes to the Act mean associations will have different financial reporting requirements depending on whether they are a Level 1, Level 2 or Level 3 association. Level 1 associations have either current assets of more than $100,000 or total revenue of more than $100,000. There is no change in financial reporting requirements for Level 1 associations. These associations must continue to lodge financial statements audited by, a person registered as an auditor under the Corporations Act 2001 or a member of the Institute of Chartered Accountants in Australia who is entitled to use the letters 'CA' or 'FCA'. Unless an audit is required by its rules/constitution or other legislation (such as the Gaming Machines Act 1991 or the Collections Act 1996), Level 2 and Level 3 associations are now required to lodge financial statements that have been verified rather than audited. Level 2 associations have either current assets between $20,000 and $100,000, or total revenue between $20,000 and $100,000. Their financial statements must be verified by a person who can audit Level 1 associations or by a person approved by the Chief Executive. Level 3 associations have total revenue of less than $20,000 and current assets of less than $20,000. Level 3 associations need to lodge financial statements that have been verified by the President or Treasurer of the association. These revised reporting requirements apply to financial years that end after 15 June 2007. A Fact Sheet detailing the changes and appropriate wording for the verifications is available from the Queensland Government’s Office of Fair Trading as follows: Associations Financial Report Let me know Simon Grant FCA General Manager – Queensland simon.grant@charteredaccountants.com.au Back to top
State Chairman's News
My year as Regional Chairman for Queensland is quickly coming to and end and I will devote my last column to reflecting on my term in office. The role of the Regional Council is primarily to act as a two-way communication link between the Board and its members in the region. The Queensland Regional Council has proven itself over many years to be an effective communication link. The reason why is that the Council is constituted of high quality, diligent and hard working members who are representative of the various interests and segments of members. Can I take this opportunity to thank the Regional Council for 2007 for their support and contributions during the year. It has been a high performing Council and my fellow councillors are Mary Boydell (Vice Chair), Peter Catterson, Peter Green, Sharon Houghton, Jenny Parker, BrendanWorrall and Bill Sheehan. Regional Councils are also responsible for providing advice to the Board on strategic policy and member issues, assisting the Board in raising and maintaining the public profile of the Institute to its stakeholders in its region, including its profile with relevant State and Territory governments and implementing in its region processes designed to attract and retain suitable Council and Board members. The Queensland Regional Council has undertaken activities throughout the year which satisfy these responsibilities. In my last column I would like to highlight 4 events that stand out for me in 2007: Group Chairman’s Conference in Brisbane In February I attended part of the Group Chairmen’s Conference in Brisbane. This Conference brings together member representatives from throughout Queensland and is an excellent forum for these members to relay to Regional Councillors and management the issues affecting members in their respective regions. What struck me about the group was their passion for the Institute and what the profession stands for. The Group Chairmen raised a number of issues for the Regional Council to consider and, if appropriate, escalate to management and in some cases the Board. A number of these issues raised have been implemented and the balance are worthy of consideration as longer term projects. Certificate Presentation to New Members in Brisbane, Townsville and Cairns During the year, I attended new member and merit certificate presentation ceremonies in Brisbane, Townsville and Cairns. These are the most enjoyable events on the Institute’s calendar for me and I encourage all members to attend when a candidate that they know is being admitted to membership. These events remind me that we are part of a wonderful profession that plays an important role not just in the economy but also in the broader fabric of society. We must all remember that the future of our profession is in the hands of these new members who are just starting their careers. On each occasion, I concluded my address to the new members by reflecting that the quality and standing of the profession is only as good as the current group of members. Each new generation of members inherits the standing and reputation of the previous generation. The current members have always and will always challenge the new members to:
- Enhance the confidence that society has in the profession;
- Undertake life long learning in an increasingly complex world;
- Act ethically in an increasingly grey world;
Contribute to deserving community services without thought of fee or reward; and
- Remain independently minded with high levels of conviction.
Official Opening After much planning and preparation the new Queensland Regional Office was officially opened by the Governor of Queensland, Her Excellency Ms Quentin Bryce AC on Tuesday 24 July. It was a momentous occasion for the Institute in Queensland and a great night was had by all. I am sure that our new premises on level 32 of Central Plaza One will serve us well as the Institute grows from strength to strength in Queensland. I encourage all members when they are in town/Brisbane to drop in and have a look at the office. If you are looking at holding a seminar or staff retreat, the new office has a large flexible meeting space which can be divided into a maximum of five sound proofed meeting rooms. It is a very flexible space with up to date audio/visual equipment. The Institute can cater for a range of functions, from small meetings up to seminars of over 100 participants. In conjunction with the Official Opening, the Governor presented certificates to a number of members, including Mr Jim Kennedy AO CBE FCA as a Life Member. Mr Jim Kennedy became the Institute’s seventh life member (the second from Queensland, Bob Alan Grice AO FCA). Regional Visits In early September, I participated in the annual Central Queensland trip. The Regional Council met in Rockhampton and, like last year, we invited local members to participate in the meeting. The Regional Councillors received firsthand feedback from the members about the issues that are affecting them. I found it a rewarding experience and I strongly endorse the practice of the Regional Council getting out of Brisbane and meeting regional members on their own turf. Simon Grant, Elizabeth Wilmont and I also visited Mackay, Gladstone, Bundaberg, and Hervey Bay. We met with a range of members from both public practice and commerce and again received first hand feedback about the services our Institute offers and also the conduct of the regulators. As usual the trip was planned like a military exercise and went off without a hitch. Conclusion In conclusion I would like to thank the Institute’s 'Team Brisbane'. We have had some changes in faces this year with the development of the new customer service area delivering all events and programs here combining the previous Training & Development, Chartered Accountants Program and member services groups. This team is ably led by Kelly and includes Jan, Amy, Kim and Louise. Special thanks to Penny who held the fort while Simon was dragged away to Sydney to solve the problem that they could not solve themselves. Penny also took the lead in constructing the office which looks tremendous. Thank you to Elizabeth who now markets our in house training products, Chris for Careers Marketing and Taylor for keeping the premises moving and working. Thank you Robina and Wendy for looking after me and my schedules and lastly a final thank you to Simon who somehow keeps his sanity and friendly demeanour while looking after this crew and the 5000 happy members in QLD while also managing the vagaries of a large national office in Sydney and all who travel in it. Andrew Arkell FCA State Chairman Back to top
Business Manager, Training & Development Update
In-House Training Have you ever felt that struggle with the pressures of work and the need to keep up your CPE hours and professional development? It's a perennial challenge. That's why the Institute of Chartered Accountants in Australia offers a variety of in house training options that are relevant and timely – delivered at your place of work exclusively for your staff and colleagues There has been increasing demand for tailored In-House training provided by the Institute. For businesses with six or more attendees, In-House training can be more cost efficient than attending an external course. More and more members in Commerce and Public Practice are opting for In-House training as they can choose specific and relevant areas of focus. It is a very efficient way to keep everyone up-to-date. Since 2005, the Institute's in-house tax trainers have built an enviable reputation for their quality and technical expertise. Following on from this success, further technical sessions such as accounting, assurance, IFRS and compliance as well as more general business and people focused skills have been developed and delivered. The Institute's current in-house training clients in Queensland range from public practice to commerce and avail of a wide variety of course including tax updates, management accounting master classes, audit and assurance briefings. As well as technical subjects, professional development courses are delivered including communications skills, leadership, business development skills and business writing. All organisations can take advantage of In-House training, smaller ones, have partnered with others of a similar size to form training communities. In-house Training Benefits at a Glance
- A one-stop shop, where the Institute of Chartered Accountants sources and provides for all your technical, professional and business development training.
- Quality training – that is relevant and directly applicable to your workplace
- First-rate reference materials, from technical papers compiled by the Institute and CCH to hands-on workbooks used during professional development sessions.
- Cost effective training minimising time out of the office and maximising chargeable hours
- A training solution tailored to your business needs – we work with you to identify skill gaps and effective learning styles suitable to your company’s budget and culture.
Elizabeth Wilmot Business Manager, Training & Development elizabeth.wilmot@charteredaccountants.com.au Back to top
Delivering Quality Events in Queensland Part of the newly comprised national Customer Service Division, the Queensland Event Delivery Team is responsible for the coordination and delivery of all Institute events state-wide, as well as the providing excellent customer service to members and associates of the Institute. Although general enquiries have recently been centralised to the Customer Service Centre on 1300 137 322 you can still talk directly to a local team member by contacting the Queensland Branch on 07 3222 6500. This team of six is comprised of the following experts:
- Kelly Scavuzzo, Team Leader
- Jan Berryman, Event Specialist Chartered Accountants Program
- Amy Stewart, Event Specialist Training & Development
- Louise Collins, Event Specialist Member Services
- Kim Connor, Event Coordinator
- Jane Carr, Service Advisor
With recent revamping to the event schedule and the introduction of more Member Service events, we hope to see more of you. Don't hesitate to contact us should you have any queries, suggestions or concerns.
'VIVA LA DIVA' T'was the month before Xmas and all round the block The ladies were seeking their holiday frocks 'What shall I wear?' they were all heard to cry 'Tis just round the corner, yet what shall I buy? This is all a bit hard, I’m too busy to shop I'll have to make do with my old skirt & top But I want to look special; I want to look glam Oh, who will help me - I'm just desperate, I am!' Here at the Institute, we have answered your call And we’ve sprung into action, we’ll give you our all If you buy a ticket, to our fun festive night, We will save your shoe leather; respond to your plight. We'll show party fashion from the best in the land Include nibbles and drinks and we'll give you a hand To make a big splash at your next Christmas bash And our Charities thank you as they'll get the cash We want to say thank you and have some frivolity So please come and join us - for fashion of quality! Discover your inner 'Diva' Ladies, no matter what our age, we all want to look fabulous not just for the 'silly season' but also on a daily basis. Let us give you a sneak peak at 2008 fashion trends in glowing colour from Living Silk, with plenty of hair and makeup styling tips from the experts at Bossy Hair and Issada to help you 'own' your new look and take you from office to evening. Hairstyles by:
Fashions by:
Makeup by:
There are plenty of fabulous prizes and giveaways all night too. This is a fun way to raise funds for the charities supported by the Institute’s ‘Everybody Counts’ program and give our ladies a night to remember, hopefully the first of many. This is an invitation only event, so if you would like to join us, please contact me on 3233 6522 or jan.berryman@charteredaccountants.com.au Date: Monday 26 November 2007 Time: 6.00pm - 8.30pm Tickets: $25.00 per person Venue: The Institute of Chartered Accountants, Level 32, Central Plaza One, 345 Queen Street, Brisbane Sponsored by:
Property as a Cost to Business
The Institute would like to invite you to 'Property as a Cost to Business' to be held on November 22nd. This session will cover some of the issues which impact on the financial viability of a property holding. Brad Summerson and Sharon Johnston, Directors at Corporate Property, will be presenting a lunchtime information and networking session. They will explore the easily identified and known costs such as rent and outgoings and the impact of structuring a deal in one manner or another. They will also discuss the more obscure costs of property to your business and the impact on Profit &Losses. These include factors such as sustainability, staff satisfaction and engineering capability. These are all factors that can and will impact on the company’s P&L and should be considered when negotiating a new lease. This is a great opportunity to bring yourself up to date on this important area, to pose questions and gain insight through the presenters’ professional experiences, and to interact with your peers. Date: Thursday, 22nd November 2007 Time: 12.00pm – 2.30pm – For a 12.30pm start Venue: The Institute of Chartered Accountants, Level 32, Central Plaza One, 345 Queen Street, Brisbane Cost: $55.00 Members $66.00 Standard To register, visit Registration form Tax Update for Business Date: Monday 12 November 2007 Time: 9.00am - 12.00pm Venue: The Institute of Chartered Accountants, Level 32, Central Plaza One, 345 Queen Street, Brisbane Registration form Tax Update for Public Practice Date: Tuesday 20 November 2007 Time: 8.30am - 12.30pm Venue: The Institute of Chartered Accountants, Level 32, Central Plaza One, 345 Queen Street, Brisbane Registration form Managing the Payroll Function Date: Tuesday 20 November 2007 Time: 8.30am - 12.30pm Venue: The Institute of Chartered Accountants, Level 32, Central Plaza One, 345 Queen Street, Brisbane To register: Please contact the Registration Desk on 07 3233 6500. Another Movie adventure for our Members Due to the fantastic response to our last Movie Premiere, we've decided to have a repeat proformance. Movie: ATONEMENT Date: 14th November 2007 Venue: Regent Cinema, Queen Street, Brisbane. Look out for your invitation coming soon to your computer sceen. QUEENSLAND GOLF TOURNAMENT – NEW DATE GOOD NEWS AND BAD NEWS! The bad news - due to circumstances beyond our control, the proposed Golf Day 2007 for Qld has had to be postponed. The good news is that because we now have extra time for planning, it will be even better. The date and venue have been confirmed so mark your diary to avoid disappointment, as numbers will be strictly limited. Venue: Hillstone St Lucia New Date: Tuesday 22nd April 2008 Invitations will be extended to our members to field teams of four for a great afternoon of golf. A light, portable lunch and drinks will be provided when you register on the day, followed by a shotgun start. Why not use the occasion to say thank you to your own valuable clients or colleagues by inviting them to join you in a relaxing afternoon of golf at the beautiful Hillstone St Lucia Course. The day will conclude with a casual BBQ, prizes and drinks. Numbers will be strictly limited, so keep your eyes peeled for the registration details and further information prior to the event. Back to top
Careers Marketing As the year draws to close I can’t help but think of the opportunities and challenges that we will face for 2008 now. I have attached a link to the student section of our website. Student Section This link will allow firms to write a short piece profiling their firm and upload the company logo - it will only cost you 5 minutes of time. If your firm would like to be involved with Careers Marketing Activities, please contact me directly on 07 3233 6513 or email christopher.hurling@chateredaccountants.com.au Whether your looking for 1st or 2nd year students or Graduates, there is an event or publication that can assist you. I‘d like to thank the Townsville Practitioners for their support during the annual 2007 North Queensland Business Professional Week (formally the Nth Qld Accountancy Week) held from the 16-19 October. It was another successful week of activities highlighting accountancy as a career to students and the wider community. A special thanks to Troy Popham from Moore Stephens whose 30ft putt made the local TV news! If you hear of an opportunity to attend an event at a high school in your area, I encourage you to participate at the event and promote accountancy as a career of choice. I can supply you with materials to distribute at the event. Alternatively, if you are unable to attend the event yourself, please let me know and I will endeavor to attend in your place. Back to top
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Chartered Accountants Local News – Queensland Contents
- Simon Says
- State Chairman's News
- Training & Development
- Event Delivery
- Careers Marketing
- Chartered Accountants Advisory Group
- State Councillor takes the helm at Ernst & Young
- Member Benefits
- Business Leaders Award
- New Members
- Fraud Investigation
- Peak Partnership
Back to top
Editor: Wendy Perriman Ph: 07 3233 6515 Email
Charterd 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.lawson@charteredaccountants.com.au (The Chartered Accountant advisory group counsellors will not address technical matters or personal issues.) Back to top
State Councillor takes the helm at Ernst & Young
The Institute of Chartered Accountants, Queensland Councillor Jenny Parker has taken the helm at Ernst & Young’s Queensland practice where she has been a partner since 1999. Jenny, who was ICA Queensland Regional Chair in 2003, is well-known in the business community and was a finalist in last year’s Queensland Business Review’s Women in Business Awards. She takes over the role of Ernst & Young regional managing partner from Rick Dennis who has taken on the new role at the firm of Managing Partner, Operations and Finance for Oceania. Jenny said she was excited about the opportunity to lead the firm’s Queensland team. 'The economy here is particularly buoyant and it is a fantastic time to be in business in Queensland,' she said. 'There is a real sense of optimism in the business community, not just in the very strong resources and infrastructure sectors, but across industries and services,' she said. Jenny has worked in the professional services sector for 20 years and most recently led Ernst & Young’s Risk Advisory Services team in Queensland and has played a key role in building that part of the practice. Ernst & Young Area Managing Partner for Oceania, James Millar, said 'Jenny brings a strong commercial acumen, knowledge of the Queensland market and an absolute commitment to both our clients and our people'. Back to top
Member Benefits Through the Institute's partnership with Reckon Ltd, APS is offering Chartered Accountants a 20 per cent discount on all their new practice management software. APS is a people led service organisation that moulds business process software around the individual business requirements of each of their clients. Accountability is central to their business ethos in terms their people, service levels and software. Keep your eye out for the new APS branding which APS feels is more reflective of their business. So why not join the majority of top 100 firms and make the switch to APS. To take advantage of this offer contact APS on info@aps-advance.com or call the Institute on 1300 137 322. Back to top
Nominate your number 1 Business Leader now Who will be Australia’s Number 1 Business Leader for 2008? Do you know a leader who has:
- Vision
- Innovation
- Commercial acumen?
To name just a few of their qualities. Don’t let another day die nominate now! The Chartered Accountants Business Leader Awards, proudly partnered by Perpetual, are Australia’s highest accolade in business, celebrating the wealth of business talent in Australia. The Business Leader Awards recognise and celebrate outstanding business leadership in Australian organisations across a whole spectrum of industries with the winners being announced at a gala event in Sydney on 14 March 2008. 2008 nominees will be judged on their ability to demonstrate visionary leadership, exhibit best practice, show innovation and take risks, foster positive employee relations and contribute to the community as well as displaying honesty and integrity. Some previous winners include Dr. Brian McNamee, managing director, CSL Limited; Allan Moss, chief executive officer, Macquarie Bank; Paul Little, managing director, Toll Group and Michael Chaney, managing director, Wesfarmers. Nominations close Friday, 16 November 2007. The award night is at Doltone House, Jones Street Wharf, Pyrmont on Friday, 14 March 2008. Table bookings for this prestigious event are available now at $2000 for a table of eight. Follow the links below to nominate Nominate or to book a table Book a Table Back to top
Members admitted in September Beshara Absitis Megan Bottomley Maria Bui Cameron Butcher Claire Chadwick Michael Freer Timothy Geraghty Dilini Gonsalkorala Shanna Hailey Colin Hancock Gene Herder Maggie Ledger Amber Manners Stephanie Mountjoy Fredrick Naude Jonathan Ross Czarina Singh Garry Skene Luke Sullivan Joanne Taylor Dayakar Thumma Delyse Weber Congratulations to all these new members. Back to top
Fraud Investigation Training Summit The Fraud and Corporate Crime Group of the State Crime Operations Command, Queensland Police Service, is hosting the 'Fraud Investigation Training Summit' as part of Project Synergy on the 22nd and 23rd November 2007 at the holiday Inn, Roma Street Brisbane. The summit aims to provide delegates with best practise regarding fraud investigations, interview techniques, collection and admissibility of evidence, and brief/case preparation within industry and in working in partnership with law enforcement. I have attached the hyperlink to the QPS webpage. This webpage provides details of the registration and Agenda tentative only at this time) for the Symposium. Synergy Please note at this time, hyperlinks to local accommodation have not been provided on the webpage. For your information the following hotels are within walking distance of both the Venue (Holiday Inn) and Police Headquarters. Holiday Inn, Roma Street, Brisbane Holiday Inn Abbey Apartments, cnr Roma and Makerston Streets, Brisbane. Abbey Apartments Oaks Hotel, North Quay, Brisbane. Oaks Hotel Should you require any assistance in respect of registration please contact myself at the Fraud and Corporate Crime Group on this email Back to top
Accounting firm gets 'creatively engaged
In the current climate of skills shortages, employee disengagement and attraction and retention challenges, The Peak Partnership Chartered Accountants firm (Upper Mt Gravatt) dispelled the myth that accountants are dull number-crunchers at their recent annual staff conference. More than 40 staff gathered at Sea World Resort on the Gold Coast to get creative at a business planning workshop. Designed to maintain the firm’s culture of employee engagement, the workshop reinforced and aligned individual employee goals to the firm's corporate vision. Without prior planning, staff were individually challenged to visually interpret their personal aspirations before merging into four groups to develop a series of collective artworks. The workshop culminated with those four groups combining to reveal the firm's Vision Masterpiece, which now proudly hangs at their Mt Gravatt-Capalaba Road offices. John Eales, Senior Partner at The Peak Partnership, said the workshop was a resounding success judging by the creative thought and energy that staff put into the exercise. 'Accountants are stereotyped as unimaginative when it comes to expression and creativity, but the group really embraced the workshop and the final result was quite moving for everyone involved. To see each employee’s own personal commitment fit into the Vision Masterpiece was very encouraging from management’s perspective. The Peak Partnership has undergone major changes in the past 12 months, underpinned by our new name and identity, so it was important for staff to actively recognise our overall future goals. With a fun and creative approach, we were able to have all staff redefine the business’ vision in a memorable way, thus facilitating employee engagement', said Mr Eales. Mr Eales went on to say that the most pleasing aspect of the Creative Visions workshop was that it was coordinated by the staff for the staff, led by Debbie Dreaver (Human Resources Manager). 'The whole event was a demonstration of positive commitment by all staff.' The conference also included presentations by Grahame Evans, Managing Director of Professional Investment Services – The Peak Partnership’s financial planning affiliate and Cameron Murray, General Manager Commercial with the Gold Coast Titans NRL franchise. For further information please contact: John Eales, Senior Partner at The Peak Partnership Phone: 07 3360 9888 Email: johne@peakpartnership.com.au Back to top
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