Warning: All business stationery must now contain a disclosure statement
 Did you know that all professional stationery, except business cards, must include a disclosure statement alerting clients and potential clients that the liability of members of the Institute’s Scheme is limited?
The Institute’s Scheme, limiting the liability of Chartered Accountants, came into force in Western Australia on 8 October 2007. The Institute's Scheme caps the liability of members in return for the imposition of increased risk management measures and compulsory insurance. Participating members of the Institute’s scheme are all CPP holders, affiliate members and practice entity members other than financial services licensees.
From 8 October 2007, participating members of the Scheme must ensure that all business stationery1, except business cards, must carry a disclosure statement setting out that the member’s liability is limited pursuant to the Scheme.2
Photo: GiGi Visscher CA
The form of wording prescribed for the disclosure statement under the Professional Standards Regulations is as follows:
“Liability limited by a scheme approved under Professional Standards Legislation.”3
In addition, the Professional Standards Regulation sets out that the disclosure statement must be printed in a size not less than the face measurement of Times New Roman typeface in 8 point.
According to the Professional Standards Legislation, the penalty for breaching this disclosure requirement is $5,000.
Further information regarding the disclosure requirements is available on the Institute's website
If you would like further information regarding the Institute's Scheme generally, GiGi Visscher from Freehills will be presenting the first session in the Institute's Sharing Knowledge Series in early 2008 – “Professional Standards Act and the Institute of Chartered Accountants in Australia Scheme.”
GiGi Visscher is a Chartered Accountant and a lawyer. She is currently practicing as a lawyer at Freehills in Perth and is a member of their National Litigation team. GiGi is a Barrister and Solicitor of the Supreme Court of Western Australia, New South Wales, and of the High Court of Australia.
1 Pursuant to the Professional Standards Act 1997 (WA), because the occupational liability of a participating member of the Institute’s Scheme (Member) is limited, the Member must ensure that all documents given to a client or prospective client that promote or advertise the Member or his or her occupation, including official correspondence and similar documents, carry a statement to that effect: (section 45).
2 Ibid
3 Where the same business stationery is used by a participating member and a financial services licensee, the following additional wording is recommended by the Institute:
*other than for the acts or omissions of financial services licensees.
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Communicate with your WA General Manager
 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 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. Increasingly, Chartered Accountants in Business 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 Western Australia range from public practice to commerce and avail 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 provided including communications skills, leadership, business development skills and business writing. All organisations can take advantage of in-House training. Smaller organisations can partner with others of a similar size to form training communities.
Benefits at a glance- A one-stop shop, where the Institute of Chartered Accountants in Australia sources and provides for all your technical and soft-skills training - courses currently offered
- 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.
If you would like to find out more information or have any queries regarding the Institute’s in-house client training solutions, contact Brian Martin, Business Manager at the Institute on 9420 0403 or email
Con Abbott FCA
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Most outstanding accounting student award presentations
Throughout October and November the Most Outstanding Accounting Student Award has been presented at 25 schools at their end of year assembly or graduation ceremony. Thank you to the following Chartered Accountants who presented the award at the following schools:
John Palermo - Aranmore Catholic College
David Menarry - Applecross SHS
Maria Cavallo - Australind SHS
 Con Abbott - Cyril Jackson Senior Campus
Rodney George - Duncraig SHS
Beth McKenzie - Kwinana SHS
Andre Brender-A-Brandis - Lesmurdie SHS
Brian Pereira - Lynwood SHS
Kevin Duda - Melville SHS
Julie Keene - Murdoch College
Dominic James - North Albany SHS
Andy Gilmour - Ocean Reef SHS
Richard Haselgrove - Rossmoyne SHS
Con Abbott - Presbyterian Ladies College
Chris Parkinson - Tuart College
Kirsten Morris - Ursula Frayne Catholic College
 Ben See - Willetton SHS
Beth McKenzie - Winthrop Baptist
Chris Papaioannou - Woodvale SHS
Photo: Beth McKenzie, students and Teacher from Kwinana Senior High School
Photo: Andre Brender-A-Brandis at Lesmurdie Senior High School presentation
The following schools presented their awards:
Busselton SHS
Ballajura SHS
Belridge SHS
Governor Stirling SHS
Leeming SHS
Mandurah Senior College
The Most Outstanding Accounting Student Award was launched by the Institute to encourage secondary students to pursue a career in Chartered Accounting and to build awareness of our profession in the secondary school student community. This prestigious award is open to all secondary schools in WA (Metropolitan, regional and rural) where accounting is offered as a TEE subject. The school is given the discretion to adjudge the recipient, including whether it is awarded to a Year 11 or Year 12 student. To date 46 schools have taken up this opportunity.
For further information about the award program, please contact Erin Pawson on 9420 0405 or email
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Chartered Accountants achievers evening
On Monday 5 November, 24 of our successful Chartered Accountant achievers met their vacation employers for the first time at a celebratory cocktail function at the Parmelia Hilton Hotel.
These 'Achievers' had been through a vigorous three-part selection process: written, group and one on one interview, to secure their placement from 150 applicants. The students are in first year commerce/business with a strong desire to achieve their best in their chosen careers and want the opportunity to experience working in a professional environment.
The Institute greatly appreciates the support of the sixteen participating firms who have given this opportunity to 2007's Achievers:
Deloitte Touche Tohmatsu, ENI Australia Limited, Ernst & Young, Gooding Pervan, Harden East & Conti, KPMG, Moore Stephens, Optimus Partners, P.G. Business Services, PKF, PricewaterhouseCoopers, Shakespeare Partners, Stirling Partners, Sygnum Financial Services, WHK Howarth, Woodside Energy Ltd.
If you would like to know more about the Chartered Accountants Achiever Program or would like to register your interest for 2008, please contact Erin Pawson on 9420 0405 or email or Claire Curnow on 9420 0406 or email.
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Keeping Western Australian Employees Loyal
Accountants under the age of 35 plan to stay with their employer for less than three years, with those in Western Australia intending to stay with their current employer for longer, compared to their other state counterparts.
The Institute commissioned employment research firm, Retention Partners, to survey 281 Chartered Accountants under the age of 35 to research employee loyalty.
The research showed that Western Australian respondents are keen on working in the right industry and value the chance to earn, the chance to learn and spend time on non-work life activities.
The employee loyalty research revealed that young Chartered Accountants:- want to constantly learn and be given challenging opportunities
- are looking to gain experience and to turn that experience into grounds for a promotion
- at small and medium public practices tend to stay longer than in other sectors because of autonomy and flexibility, while Big 4 employers attract employees through their large client base and reputation
- expect that high remuneration, senior roles and work/life balance go hand-in-hand
- who are parents of before-school age children tend to want long tenure
- believe that it is the employer’s responsibility to establish employees’ career path
Nearly 45 per cent of respondents plan to stay with their employer for less than three years. Attrition rates are directly impacted by a lack of career growth, low remuneration, unchallenging work, poor managers and colleagues.
Looking around the country there are some distinct differences between the young Chartered Accountants surveyed.
The research suggests that Victorian respondents are more career orientated than other states with career growth rating high, while their New South Wales counterparts value work/life balance. Those respondents located in Queensland and Western Australia were more inclined to stay with their current employer for relatively longer periods.
Interestingly, 44 per cent of respondents suggest the reason why they stay in their current position is because of their work mates.
Workplace culture is of vital importance in the decision regarding whether an employee will stay or leave.
It is imperative that organisations focus on positive and engaging strategies to keep their existing talent. Practical and realistic solutions need to be implemented by employers, to assist with the skills shortage and focus on what attracted young Chartered Accountants to an employer in the first instance, such as career opportunity, reputation, remuneration and location.
To read more about the results of the employee loyalty research, visit charteredaccountants.com.au/leadership
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Netball & Basketball Carnival
The Young Chartered Accountants committee would like to thank all those who participated in this year's carnival. Despite the hot weather, 22 netball and the 13 basketball teams took part and sweated their hearts out.
All teams were mixed, except the gold basketball teams, with both sports once again split into two divisions - Gold for the more serious competitors and Blue for the more relaxed players. In netball gold division, both EY Goldies and Aylmore played a gallant game making it into the finals. Unfortunately for EY, that was as far as they went. Aylmore & Associates were not ready to give up the title in the Gold division, with a 14-3 win sealing their third consecutive plaque on the trophy.
In the Blue division, Gooding Pervan’s ‘Good Pervs’ once again made it into the finals, and this year their name will be engraved on the trophy having defeated HLB Mann Judd 31-3.
Meanwhile, in the basketball gold division, BDO Kendalls remain champions of the Gold division, once again defeating Ernst & Young in the finals, 46-28.
The final of the Blue division came down to a match between McGillivray Partners vs Stirling Partners, resulting in a close result of 23-21 with victory in McGillivray Partners favor.
Thank you to all teams who took part in the competition, and congratulations to all winning teams, as well as the MVPs in each sport as nominated by the umpires - Tony Monday from Pike and Skinner, Christine Johnson from Ernst and Young in netball and Daniel Till from McGillivray Partners and Jarrad Prue from BDO Kendalls in basketball.
A big thank you also to those who made the day possible:- Sonny, Cynthea and Kim of the Young Chartered Accountants committee for lending their support on the day
- SportsMed, who thankfully did not have a lot of work to do!
- Daniel and Crystal of UWA Sports for running the event on the day
Sponsored by
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Recall
An occasional series outlining where the Western Australian Council and State office have been engaging with members and raising the profile of the Chartered Accountant brand.
November
14 Sharing Knowledge Series
Jason Berry of KPMG delivered a Sharing Knowledge series presentation on Superannuation.
16 Council meeting at PRT
Council met at PRT in Busselton and hosted a cocktail event with members from around the South West of WA.
17 Netball & Basketball Carnival
22 Netball and 13 Basketball teams participated in this sporting carnival. Congratulations to Aylmore & Associates and Gooding Pervan who won their respective divisions in Netball and BDO and Stirling Partners in Basketball.
21 Sharing Knowledge Series
Ali Noroozi, the Institute’s Tax Counsel delivered a Sharing Knowledge series presentation on the Institute's lobbying efforts in the taxation arena. Ali also met with senior CAB members and Tax Public Practitioners.
October
7 Football & Touch Rugby Carnival
22 teams participated in this sporting carnival. Congratulations to Ernst & Young and BDO who won their respective divisions in Football and PricewaterhouseCoopers in Touch Rugby.
10 Women's Chartered Accountants Series
More than 50 members attended 'An evening with Kate Lamont' the first session in the 2007/08 series. Thanks to Ernst & Young for their continuing sponsorship of this series.
17 AGM & 10/25/40 year celebration
This function was held at The Perth Convention & Exhibition Centre and was attended by members from the WA Council and more than 100 Chartered Accountants.
September
12 Council meeting at Mann Judd
Council met with the partners and fellow Chartered Accountants from HLB Mann Judd.
13 Business Breakfast Series
The fifth business breakfast for 2007 featured a presentation by Richard Goyder, Managing Director and Chief Executive Officer of Wesfarmers. More than 300 members and guests were in attendance.
20 CFO breakfast
Council, CABs panel chair and Institute management hosted a breakfast at The University Club for more than 20 CABs members who are also Chief Financial Officers.
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Advancement to fellowship
Congratulations to the following members who have recently advanced to the status of Fellow:John Murray, PKF
David Guille, Building Solutions (Aust) Pty Ltd
Peter Hansen, RSM Bird Cameron
David Hawkins, Aspire Wealth Coaching WA Pty Ltd
Donald James, Westrac Pty Limited
Sean Jermy, Barrick Gold of AustraliaIf you have been a member of the Institute continuously for ten years and have been in a senior position for seven years, you may nominate for advancement to Fellowship.
Advancement to the status of Fellow also requires you to have demonstrated professional leadership as a Chartered Accountant. This can be in regards to your involvement in- The Institute
- The community or
- In employment
Management looks at the following criteria when reviewing nominations:
- Demonstrated leadership in the profession as evidenced by the applicant’s responsibilities in employment or public practice and by contribution/s made to the Institute and/or the community
- Been a member of the Institute for a minimum continuous period of ten years
- Held, while a member, a senior position in employment or in public practice; or a combination of thereof, for at least seven years.
Service as a member of an approved overseas body can be included when calculating the period required under Regulation 603.1.2 and 603.1.3.
Regulations
Nominations should be made by two Chartered Accountants who will testify as to the applicant's suitability for advancement in status based on the member having met the prescribed criteria indicated in Regulation 603. If a member being nominated or invited has not fulfilled the prescribed criteria in Regulation 603.1.2 and 603.1.3, consideration can be given for advancement to Fellowship if it can be shown that the member has made a significant contribution to the accounting profession.
Why apply for fellowship?
'Being a fellow of the Institute symbolises the recognition by your peers that you have reached a certain level of professional expertise and that you place a high value on being a part of a distinguished profession.' – Peter Eastwood FCA.
'Fellowship recognises service to your profession and or the community over and above the norm. We encourage our children to serve at school, sporting clubs and community causes to make them and society better. Although it isn't done for recognition, recognition is healthy and builds self-esteem in people and communities. Fellowship is another form of honouring those who serve. I consider Fellowship very important along with other forms of recognition in building a strong, generous and healthy community.' - Tony Horgan FCA.
'Fellowship of the Institute is highly valued by me because it is a recognition of contribution to my professional body over many years. I am proud of my membership of the premier accounting body in Australia and particularly proud to be recognised with fellowship status.' – Geoff Kidd FCA.
Lodgement of application
Nominations are processed in the Institute's national office (Sydney). All fellowship nominations are then considered by the General Manager, Chartered Accountants Program and Admissions division according to the criteria set by the Institute’s National Board.
Application form
Fees
There is no fee for advancement to fellowship.
Contact us
Telephone: 1300 137 322 (Monday to Friday 8am to 6pm NSW EST/EDST hours excluding public holidays)
Email: service@charteredaccountants.com.au
Fax: 02 9262 4841
Address: GPO Box 3921 Sydney NSW 2001
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Job Search turns one - celebrate with free movies tickets*
 With Chartered Accountants Job Search having just turned one year old, the Institute would like to celebrate by finding out what you think of the site. For your chance to have a say and win a double pass to the movies* be one of the first 25 to complete and return the attached feedback form
Chartered Accountants Job Search is a dedicated and specialised online recruitment service. It has recently been enhanced to make it even easier for you to look for a new start, or to target your recruitment process.
Employers
Only Chartered Accountants and candidates can apply through the service, which means no time is wasted reviewing applications from unqualified job seekers. Job Search enables you to post job ads, manage and respond to applications, view résumés, and set up screening questionnaires.
Employers can also build awareness of a firm/organisation on the website by creating company profiles, displaying banner ads and utilising premium listings. Discounted rates for Chartered Accountants using the service apply on all products and services on the website.
Jobseekers
As a jobseeker, you’ll have access to a powerful search engine to view the best jobs available in the market. Role types and industry search functionality are geared toward members, with the system being directly linked with the Institute’s database, allowing quick and seamless registration and log in. From the one website you can search jobs, set-up job alerts, build an online resume and track your applications. You can also access recruitment tips and research industry trends.
For more information about Chartered Accountants Job Search visit charteredaccountants.com.au/jobs
*Terms and conditions apply. Offer is valid for the first 25 members and/or candidates who complete all the fields in the attached feedback form and return it via email or fax. The free double pass to the movies is valid at Greater Union cinemas which are located in NSW, QLD, SA, WA, VIC, NT and the ACT.
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Business Leader Awards
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. Then nominate now at Awards
Don’t let another day die!
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 closed 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.
Relevant links:
Nominate now for the Awards
Table bookings
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Western Australia - December 2007
This issue
1. Warning: All business stationery
2. Communicate General Manager
3. Outstanding student awards
4. Achiever evening
5. Most outstanding accounting student award presentations
6. Keeping WA employees loyal
7. Netball & Basketball carnival
8. Recall
9. Advancement to Fellowship
10. Jobsearch turns one
11. Business Leader Awards
12. Christmas greetings and office closure
13. South West discussion group
14. Notice board
15. Counselling support
16. Lost Member
Christmas greetings and office closure
 Chairman Julie Keene along with members of the WA Council, General Manager Con Abbott and your Western Australian team wish you and your family a safe and very merry Christmas and a happy new year.
Our office will be closed from 3.00pm Monday 24 December 2007 and open on Wednesday 2 January 2008 at 8.30am.
The WA office will be donating the money usually spent by the Institute on Christmas cards to a variety of worthwhile charities.
Thank you to all members for helping to make 2007 another successful year for the Institute and we look forward to great achievements in 2008.
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Proposed South West Discussion Group
Are you an Accountant, Finance Director, CFO or CEO in the South West business community? Are you interested in the opportunity to discuss various technical accounting and taxation issues confronting your business with your accounting peers?
Interest is being sought from likeminded accountants wanting to meet on a semi-formal basis, probably once a month to share knowledge and discuss issues confronting accountants in commerce. Depending on support received, meetings may alternate between Bunbury and Busselton and may include technical speakers addressing the group.
Membership is open to any interested person working in a business or government department in a senior accounting role in the South West. Formal qualifications are not essential, but experience at a middle to senior level in an accountancy department/division with a willingness to learn and contribute to technical accounting/business issues is required e.g former bank managers now serving as head accountants in significant businesses and CEO’s who have qualifications in other fields but have technical competence in financial matters.
If you or a colleague are interested in becoming a member of this discussion group or have any further queries or ideas, please contact:
Kingsley Smith CA, Finance Director
CCR Group Pty Ltd
Business tel: (08) 9725 6160
Mobile: 0409 317156
Email: kingsley.smith@ccrgroup.com.au
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Chartered Accountants Notice Board
Noticeboard is a free service to Chartered Accountants on the WA page of the Institute’s website Notice Board and is an excellent forum to:- Buy or sell a practice or fees
- Voluntary and honorary positions available for non-profit and charitable organisations.
For further information or to submit a notice, please contact Fran Ooi on 9420 0412 or email
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Counselling support for Chartered Accountants
Facing an unfamiliar or challenging professional circumstance? Uncertain about a career decision? Under pressure to act unethically?
Talk to someone who knows. Contact the Chartered Accountants Advisory Group (CAAG). It's confidential and free, and constituted by highly experienced Chartered Accountants from Western Australia. Con Abbott, General Manager Western Australia, says at times it is important to have someone to turn to who is experienced in the accounting profession, who understands the issues and is able to provide empathy, advice and support.
To be placed in contact with a CAAG counsellor please contact Con Abbott on 9420 0407 or email
(The Chartered Accountants Advisory Group counsellors cannot address technical or legal matters)
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Lost Member
The Institute is hoping to update and locate the contact details of the following member:
Mr Peter Patrick Torre CA
Should this be you or if you know the whereabouts of this member, we would appreciate if you could advise us on 1300 137 322 or by email
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The official e-newsletter of the WA region of the Institute of Chartered Accountants in Australia
ABN: 50 084 642 571
GPO Box Z5385 St Georges Tce
PERTH WA 6831
Telephone: 08 94200 400
Email: WA office
State Office Information
Editor
Fran Ooi 08 9420 0412
email
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