Regional Chair update
 A new initiative from our Young Professionals
For over a year, the team of dedicated Young Professionals in Victoria has been considering how best to leverage the membership’s expertise, experience and goodwill to address the issue of raising financial literacy in disadvantaged sections of the community.
They have found a great solution and I am delighted to launch what will be a long term program, eventually providing an opportunity for every Victorian member to make a contribution.
Led by Councillor Mark Davies, who is the Young Professional Portfolio holder for Regional Council, the program has all the characteristics of outstanding Chartered Accountants training - simplicity, clarity and delivery of tangible results.
The group engaged Money Minded to present a series of four training modules to an audience of Chartered Accountants. A community financial ddviser in the city of Darebin was engaged to assist in combating financial literacy issues particularly with young people, new immigrants and senior members in the community. They identified all Chartered Accountants living in the city and invited them to attend an information night. Near 20 accepted and 12 were subsequently trained. This is a tangible community benefit.
As we now move out of a pilot stage into the mainstream, at some point in the future you may be contacted. Three councils are on schedule for 2008 and the program may be accelerated depending on resources.
The Young Professionals should be very proud of the initative. Members can give back to their city with their expertise; the council can reach more people on scarce resources who are at risk and the recipients can receive first class advice.
If you want to know more about the program or have suggestions about its implementation please email me on, chairman.vic@charteredaccountants.com.au
Penny Hutchinson FCA
Regional Chair - Victoria
Regional Manager update
 A confidence culture
I was at a seminar recently where the presenter was absolutely fantastic. He told us stories to illustrate his points; he made us laugh and strode the front of the room as if he was in complete command. Reflecting on the substance of his presentation on the way home, it became very clear that there was very little fact but a huge dollop of confidence.
It amazes me how some of us have so little confidence in clearly articulating the fact of a situation. In this instance presentation skills training are relatively useless if you are going to read your presentation, stand with your hands pasted by your sides, look terrified and accommodate every point of view that is put before you. Lack of confidence has ruined many a technically brilliant presentation.
Another difficulty is confidence in writing skills. In many instances our education encourages us to look at an issue from different perspectives. This is not a bad thing as it allows us to understand where different parties are coming from. Where the issue arises however, is where clear facts are compromised by a desire to accommodate all the points of view. This lack of confidence in dealing with the facts leads to lack of clarity, being verbose and in the end a possibly poor decision or recommendation.
Confidence can be seen at its best or worst at meetings where interaction is critical. It is useless to have all the facts and figures at your finger tips if you think the only way you will be heard is by raising your hand. It does not happen that way. You have to have the confidence to express a view during that nanosecond when your colleagues or clients are drawing breath. You have to talk clearly and professionally based on your inner knowledge that you have positive things to say, suggest or recommend.
Confidence is essential when you are marketing or promoting an idea, a plan, a service or even yourself. So many times I hear that marketing is not my area so I leave it to others. In this day and age marketing and promoting is integral in marriage with technical expertise. This will be even more so as we move out of a compliance world (leaving it to others or technology) and upgrade to the world of high persuasive business development and business advising. You have to have the confidence to clearly articulate sound strategies that will appeal on the basis of their clarity and potential. If you feel constrained in doing this, and sometimes it is purely because you have not had the opportunity, then my advice is to take small steps at a time. Practice stepping out in your most comfortable circle with family and friends. Extend that to some activity that is not professionally related whether it be sport or work in a not-for-profit and then with small steps, increase the pace in your own professional environments.
Confidence is an essential ingredient to success these days. Unlike the presenter I started this article with you have much more substance to offer and those that listen to you, confidently articulating different views, will have a lot more to think about on the way home than I did.
Michael J. Nazzari CAE
General Manager – Victoria & Tasmania
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Rodney Page – Public Practice Committee
After completing tertiary studies at Ballarat C.A.E. (now Ballarat University) in 1977, I was employed by Arthur Andersen in the audit division and have continued to be involved in public practice ever since.
For the past 19 years I have operated as a principal of a public practice in North Melbourne.
In 2003 I completed an MBA at Victoria University, which has provided a broader business skills base to apply to my practice and my client’s businesses.
The Chartered Accountants qualification was the most challenging professional course I have ever attempted. Apart from developing skills in various areas across the accounting spectrum, it provided a high benchmark in completing vigorous assignments within timeframes. This has assisted me in later professional life, where additional efforts are required to complete complex and difficult assignments, meet deadlines and work long hours.
The Chartered Accountants qualification recognises us as professionals who are acknowledged advisors whose clients trust with their business and personal finances and business affairs.
Outside professional life, I am active in providing a balance with recreation which consists of bike riding and walking, and providing value to the community using my skills as a chartered accountant.
For the past 12 years I attend weekly wooden boat building at Victoria University. Over this time I have built two wooden clinker boats, a 12-foot sailing boat, and a 14-foot motor boat.
Community involvement includes acting as a board member of the Commercial and Audit Board for Hobsons Bay City Council, and acting as a director of the Seaworks Foundation, a company aiming to develop a community maritime site at Williamstown.
Since 2004 I have been president of the Williamstown Festival, providing strategic, financial and operational advice to the board as it implements a cultural and artistic community event each autumn.
Following appointment to the Legal Profession Tribunal as a lay member, I am now a member of VCAT Legal Practice List, providing an opinion at disciplinary hearing relating to solicitors.
Since 1997 I became an accredited quality control reviewer for the Institute. Experiences from being in public practice has assisted in this role, where I review other practitioners and assess the quality of their practice, and advise on improvements and recommendations to be made.
Succession is the main SMP issue to be dealt with in the next few years. From developing younger Chartered Accountants to become partners, or to merge or sell the practice is a challenge that older practitioners need to work on now.
The attraction of public practice is the constant variety of engagements, regular client interaction and provision of valued and trusted advice. The future of public practice continues to be positive and offers significant benefits to those who follow down this path.
Rodney Page
Public Practice Committee
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The Institute of Chartered Accountants 2008 Fun Run
With a warm, clear Melbourne evening, the scene was set for athletic enthusiasm of the highest degree. Forget Asafa Powell’s attempt at breaking the 100m’s at Olympic Park. Across the road on the same evening, the Tan Track was putting on its own show, the Institute of Chartered Accountants 2008 Fun Run.
And what an evening it was - with ideal conditions and plenty of people out on the Tan to encourage all participants. With effortless grace, Troy Williams took out the fastest time over the 7.6km distance for the men, while Paoloa Gredler was the fastest woman over 7.6km, but the day wasn’t confined just to individual excellence.
The summary of all results follows;
Fastest man over 3.8km - Anthony Scarff
Fastest woman over 3.8km - Kerri-Anne Reid
Fastest man over 7.6km - Troy Williams
Fastest woman over 7.6km - Paola Gredler
Mens Team over 7.6km - Mutual Trust
Womens Team over 7.6km - Mutual Trust
Mixed Team over 7.6km - ; BDO Bandits,BDO Melbourne.
As all participants will attest, the day was great fun. It was a perfect way to stir the competitive juices both within and between all organisations involved.
The Institute’s Young Professionals Panel would like to thank all who participated; the sponsors of the event – Hays Accountancy & Finance, Recover Sports Medicine, Emma & Tom’s Life Juices.
Anthony Scarff CA
Young Professionals Panel
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ANZ Business banking partnership launch
The Institute is pleased to announce the launch of its business banking partnership with ANZ. This partnership provides members with tangible financial benefits not available to the general market through a customised offering under the ANZ Accountants Package.
The Package allows a member’s practice, its partners and staff to achieve its business goals. It offers financial solutions in acquiring other accountancy practices or fee books, assists staff in a practice who wish to purchase equity of that practice, helps plan for the succession of partners and provides banking solutions to staff of the practice.
In addition to the competitive features of the Package, ANZ will provide the following special benefits for Institute members to deliver a 'better-than-market' proposition:- Waived Loan Application Fee (usually 0.75per cent of the loan)
- Zero Loan Administration Fee (up to $187 per quarter per loan facility) on business loan products taken by the practice (excluding overdrafts)
- Dedicated ANZ point of contact in each state for all members referred by the Institute
- Free subscription to In Business and In Perspective magazines.
For more information on ANZ's Package for Chartered Accountants visit
charteredaccountants/benefits.
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Key announcements from the International Innovation Network
The three-year focus agreed at the IIN Board meeting in Amsterdam
The International Innovation Network (IIN) held its bi-annual conference in Amsterdam in February to establish the vision, mission and key objectives for the next three years.
IIN Chairman, Jan Pasmooij, from Royal NIVRA highlighted that the network has proved to be a valuable vehicle to facilitate networking and information sharing between its members.
'The IIN has evolved from a focus in its early days on products and services to an international network providing members with outstanding opportunities for knowledge exchange, sharing strategies and building relationships,' said the Chairman.
Stimulated by learnings from participation with the IIN, the Institute carried out an internal restructure and created a Membership Marketing division earlier this year with a focus on providing value to members at every stage of their careers. This was based on the effective member support model used by fellow IIN member American Institute of Certified Public Accountants.
The conference covered key industry issues for accounting bodies such as: - How to meet the needs of female members
- Best practice in delivering online Training and Development, and the
- Research results from the IIN public practice and business surveys.
It was resolved that the main purpose of the IIN is to continue to focus on information sharing, research and networking between the 16 member institutes in areas of relevance to members. The key areas of relevance cited were attracting students to the profession, providing valuable products and services to members, and branding.
Background
The IIN comprises 16 national accounting institutes from the Asia Pacific region, Europe and the Americas. It was formed in 2002 with the aim of fostering innovation and enhancing quality in the products and services offered to and by its members. The Institute is the only Australian member of the IIN.
IIN survey: results from the recent business survey
IIN survey: results from the recent public practice surveyTop
Certificates of Public Practice: significant changes for some members
Changes to Certificates of Public Practice (CPPs) will mean a reduction in administrative red tape for many members. However, some members who did not previously require a CPP will now have to apply for one.
The changes will be effective from 1 July 2008.
What are the main changes?- Some members now require a CPP, when they did not previously. Similarly, some members who previously required a CPP, no longer do so. Members can use an interactive guide to clarify their position
- The Quality Review Program will continue to focus on members’ holding a CPP, but will now place reliance on members’ licensing obligations and the quality control procedures they have in place under the financial services legislation
- Members who are:
An Australian Financial Services Licence representative
An Australian Financial Service Licence authorised representative
A holder of a statutory registration who does not offer the services that are detailed in the registration
are not required to apply for a CPP in respect of that qualification, but must notify the Institute of their status using this interactive guide
- Many members will now pay less for their CPP. The thresholds for the concessional nil rate will increase from $2000 to $7500, and the one-third rate will remain for members earning less than $25,000 ($50,000 for retired members). Cancellation/Upgrade form
- If members hold a CPA Australia practising certificate, they may qualify for an exemption from the Institute CPP.
Exemption form
Why does the Institute require members to hold a CPP?
Members work within a co-regulatory environment, and as such, the Institute is required to ensure the highest standards are being met. This helps the Chartered Accountants brand and reinforces the integrity of members in the business community. Members holding a CPP may also benefit from a Cancellation/cap on their liability
More information
If, having used the interactive guide members require further assistance, they can visit charteredaccountants.com.au/cpp or email service@charteredaccountants
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Leighton Holdings’ Wal King named 2008 Business Leader awards winner
Leighton Holdings CEO awarded the prestigious business accolade
The Institute together with Perpetual, named Wal King, Chief Executive Officer of Leighton Holdings Limited, the winner of the 2008 Chartered Accountants Business Leader Award.
Mr King received Australia’s highest accolade in business at the ninth Business Leader Awards held at Luna Park in Sydney on Friday, 14 March 2008 hosted by Ali Moore and attended by many of Australia’s senior business executives.
This year’s Business Leader Awards was the most hotly contested yet, with more than 170 nominees vying for the title. The nominees represented the wealth of business talent in Australia and were judged on their ability to demonstrate visionary leadership, exhibit best practice, show innovation and take risks, foster positive employee relations and contribution to the community.
Mr King has headed Leighton, Australia’s largest project development and contracting group, for more than 21 years. In that time he has overseen a transformation in Leighton, from a mid-tier contractor, with a market capitalisation of $100 million, to one of the leading contractors in the Asia/Pacific region.
Receiving the award, Mr King said he was honoured to be chosen as the 2008 business leader, particularly from such an impressive field of nominees.
'It is a great pleasure to receive this award which reflects the successes we have achieved as a team at the Leighton over many years. But we aren’t going to rest on our laurels', said Mr King. 'Ultimately in business, you grow or you die. So we are continuing to pursue a number of strategic initiatives that will allow the Leighton to keep growing and for shareholders to be rewarded.'
The Outstanding Chartered Accountant in Business Award winner was awarded to Michael Ullmer, Deputy Chief Executive Officer, National Australia Bank.
Other winners on the night included Andrew Mohl, former Chief Executive Officer, AMP who won in the Banking and Finance sector and Owen Hegarty, Managing Director and Chief Executive Officer, Oxiana, won the Mining and Resources sector.
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Careers Marketing news
Meet the business leader
The Meet the Business Leader is a new initiative introduced by the careers marketing team with the purpose of promoting the accounting profession to those secondary school students. It will be presented as a forum where school students can meet, network and talk with Chartered Accountants to find out information about their work and what they did to get there.
The objective of the forum is to increase the number of students enrolling in tertiary commerce/business degrees, by highlighting the broad range of opportunities and benefits available to those who complete these degrees.
A series of tables will be set up to serve a capacity of up to 10 students and one leader, with each table dedicated to a particular area within the profession such as tax, audit, insolvency, corporate finance, management accounting and so on. This set up will consequently enable students to choose the areas they find most interesting, or alternatively learn more about an area they are unfamiliar with. The students will be presented with the opportunity to listen to their career life stories, as well as the ability to ask questions.
Meet the Business Leader event will comprise of one guest speaker and 12 appointed Chartered Accountant speakers from various areas of accounting and business to present to approximately 120 students. The event will be held at the Melbourne Cricket Ground on Tuesday, 15 April.
Careers Fairs and Events
Throughout March, the careers marketing team in Victoria has been busily attending numerous careers fairs and student society events.
Universities visited in Victoria and Tasmania include; Monash University, Melbourne University, La Trobe University, Swinburne University, RMIT University, Victoria University, University of Ballarat and the University of Tasmania.
In addition to numerous careers fairs throughout Victoria and Tasmania, the careers marketing team were invited to attend a variety of student society functions. There are many benefits of sponsoring student societies as it enables the Institute of obtain numerous networking opportunities with both employers and students.
The first event was for the Honours Accounting Society. The Institute is thisSocieties prime sponsor. The society events continued with an event from the Deakin Commerce Society at the Deakin University Burwood Campus, Monash Accounting and Computing Society (MACS), Melbourne University’s Financial and Management Association of Australia (FMAA), La Trobe University’s Business Students Association (BSA), Melbourne University’s Accounting Student Association and the Deakin Commerce Society at the Geelong campus.
All events have been successful in providing the Institute with the opportunity to promote and provide information about the Chartered Accountants program.
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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?
A problem shared is a problem halved.
Talk to someone who knows. Contact the Victorian Chartered Accountants Advisory group. This confidential free service, is staffed by highly experienced and specially trained senior chartered accountants from the local region. Once a call has been logged with the general manager, contact will be made with the member within 24 hours.
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. Younger members are also invited to use the service as we have a number of trained young professionals on the group register.
To be placed in contact with a Chartered Accountants Advisory group counsellor for guidance, contact Michael Nazzari on 03 9641 7400 or email Michael Nazzari
The Chartered Accountant Advisory group counsellors will not address technical matters or personal issues.
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Pro bono opportunities
Interested in volunteering your financial skills to the not for profit sector? Go to probonoaustralia to find out how to become involved and give back to the community. |
Chartered Accountants Local News – Vic
Contents - Regional Chair update
- Regional Manager update
- Rodney Page – Public Practice Committee
- The Institute of Chartered Accountants 2008 Fun Run
- ANZ Business banking partnership launch
- Key announcements from the International Innovation Network
- Certificates of Public Practice: significant changes for some members
- Leighton Holdings’ Wal King named 2008 Business Leader awards winner
- Careers Marketing news
- Chartered Accountants Advisory group
- Pro bono opportunities
Editor: Clare O'Neill
Tel: 03 9641 7400
Email: clare.oneill@charteredaccountants.com.au
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