66 | CPA Australia Integrated Report 2019 6 OBJECTIVES • Enhance and extend the amount of policy work that CPA Australia undertakes for the benefit of members and the community they serve, to build recognition of the CPA Australia brand • Advocate for member and public interests through local and international policy work IMPACT POLICY GLOBALLY AND BE ACTIVE IN COMMUNITY ADVOCACY PERFORMANCE Australian media favourability – 56.7 68 submissions to governments, standard setters and regulators
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6OBJECTIVES• Enhance and extend the amount
of policy work that CPA Australia undertakes for the benefit of members and the community they serve, to build recognition of the CPA Australia brand
• Advocate for member and public interests through local and international policy work
IMPACT POLICY GLOBALLY AND BE ACTIVE IN COMMUNITY ADVOCACY
PERFORMANCE
Australian media favourability – 56.7
68 submissions to governments, standard setters and regulators
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“BEING PART OF CPA AUSTRALIA CONNECTS ME WITH THE ISSUES AND CONVERSATIONS THAT MATTER, AS WELL AS MY PEERS IN THE INDUSTRY. IT’S A REAL NETWORK OF INFLUENCE.”Judy Gao CPA, Strategic Communications Support Advisor, Major Road Projects Victoria
Patrick Viljoen CPA, Strategy and Business Planning Analyst, CPA Australia
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POLICY AND ADVOCACY
BEING ACTIVE IN POLICY, ADVOCACY AND THOUGHT LEADERSHIP
FAVOURABILITY RATING IN AUSTRALIAN MEDIA 56.7 (2018: 52.9; 2017: 47.5)
One of CPA Australia’s key strategic goals is to impact policy globally and be active in community advocacy. To work towards achieving this goal, CPA Australia adopts a multifaceted approach incorporating research and member and stakeholder engagement, that:
• Focuses on public policies that encourage good business, investment, raise living standards and are both in the public interest and of benefit to members
• Actively engages with governments, regulators, government agencies and standard setters
• Influences economic and social policy in areas and markets of interest to our members.
CPA Australia is active in influencing international and national standard setting and participates in a broad range of stakeholder, advisory and liaison groups in areas such as taxation, financial reporting, retirement savings, auditing and assurance, ethics and governance.
A key aspect of promoting the policies and views of the organisation and advocating on matters of relevance to members is maintaining a strong and positive media presence. In 2019, we received widespread coverage in national, metro and regional media, including more than 800 media mentions in Australia across digital, press, radio and television, with digital making up the highest proportion. Our favourability rating includes media analysis of over 400 Australian organisations and collates the average favourability of over one million media items to provide a benchmark for any organisation.
Topics that garnered the greatest media interest were:
• The Federal Budget
• Government proposals to limit cash transactions
• Policies of the major parties for the Australian federal election
• Tax tips
• Regulatory burden on public practitioners.
There was also strong media coverage across international markets with more than 2300 media mentions. Of particular interest was the release of CPA Australia’s tenth annual Asia-Pacific Small Business Survey and the China and Hong Kong SAR Economic Sentiment Surveys.
ENGAGING WITH MEMBERS
Engaging with members is central to developing CPA Australia’s policy positions. Our COEs draw on the expertise of members and industry specialists to help us develop policy positions and offer insights on issues affecting the profession. In 2019, we established two new COEs to cover Digital Transformation and Ethics and Professional Standards.
In 2019, CPA Australia held more than 40 presentations across Australia and New Zealand to meet with members and discuss current topics affecting the profession.
More than 1600 members registered to attend face-to-face presentations, a LiveStream or webinar. Topics included:
• Policies of the major parties for the Australian federal election
• The Federal Government’s tax and superannuation policy agenda post-election
• Financial planning, superannuation, retirement savings and aged care reviews
• Parliamentary Committee Inquiry into the regulation of auditing in Australia
• Regulatory burden
• Financial reporting
• Climate change policy.
We produced 5 webinars and 12 podcasts, covering a diverse range of topics relevant to our members. Collectively, these webinars and podcasts were accessed more than 26,600 times. Member events focused on policy and advocacy were also held in Malaysia, Singapore, Hong Kong SAR, the UAE and UK.
SUPPORT FOR MEMBERS
In 2019, we produced a range of guidance and other materials relevant to members and the profession. These included:
• Two joint publications with CA ANZ on behalf of the Australian Auditing and Accounting Public Policy Committee
• Two guides to understanding auditing and assurance in Australia and New Zealand
• Australia tax tips 2019
• Australian tax whistleblower protections
• Malaysian Service Tax on digital services
• Charities – a guide to financial reporting and assurance requirements
• Policy statement – business and the environment
• Summary of the tax and superannuation election policies of the major Australian parties.
68 SUBMISSIONS TO GOVERNMENTS, STANDARD SETTERS AND REGULATORS (2018: 67; 2017: >80)
Representing the views of members to policymakers, standard setters and regulators is a key aspect of CPA Australia’s activities. We prepare submissions in response to calls for comment which includes member input sought through multiple channels. Additionally, during 2019 we prepared an increasing number of submissions jointly with CA ANZ, with the aim of providing a single professional voice on key issues. We did not provide commentary and submissions on all areas in 2019 where members may have an interest, when draft legislation or regulatory changes were announced that diverted resources from other priority areas.
Major submissions in 2019 included:
• Pre-Budget submission to the Australian Government
• Commonwealth Climate Change Authority Consultation Paper
• Parliamentary Joint Committee inquiry on regulation of auditing in Australia
• Brydon Review: Submission on Independent Review into the Quality and Effectiveness of Audit
• A range of submissions to international standard setting boards.
ANDREW KOO AM FCPA BEc Chairman, Order of Australia Association UK/EuropeAndrew’s 50-year tenure as a CPA Australia member is impressive, not only for its duration, but for what he achieved in his professional career and how he achieved it. “You have to use your 50 years and make it count.”
In addition to roles across a number of industries including manufacturing, newspaper, media industries and the public sector, Andrew has invested heavily in community work throughout his longstanding career, leveraging his CPA designation to do this work. “My CPA background can give people a little confidence into what I can contribute. It indicates governance and financial strength.”
His key advice for CPAs beginning their career is to include community service as part of their professional and personal agenda. “Apart from achieving, include contribution. Make time to give the community some of your expertise.”
Reflecting on his very first job at Cadbury Schweppes in 1968, Andrew recalls that undergoing the CPA Program equipped him with the necessary skills, knowledge and discipline to undertake the tasks and role requirements very quickly. “Most importantly, it’s the discipline,” he said. “You have been through very good training and a disciplined upbringing in terms of study.”
Andrew notes that the value of being a CPA Australia member comes with both professional and commercial recognition. “A CPA carries a lot of weight, it opens doors for you, and if you’re going to pursue a career anywhere in finance, advancing through the corporate ladder, it means a lot.”
>31,500 PAGE VIEWS OF FEDERAL BUDGET ARTICLES ON INTHEBLACK.COM (2018: 31,400; 2017: >24,500)
CPA Australia provided commentary and views to members on the budgets delivered by the governments of Australia, Hong Kong SAR, Malaysia and Singapore. Comprehensive coverage of the Australian 2019–20 Federal Budget featured in-depth analysis on the night across our various channels, including articles published in CPA Tax News, intheblack.com and CPA Update. Coverage included a look at the various winners and losers and a summary of how the budget affected small businesses, investors, individuals and families, superannuation and the accounting profession, as well as areas of missed opportunity. INTHEBLACK has improved on the performance of its budget related content each year since 2015 and in 2019 time spent on budget related pages rose from four to 15 minutes, showing greater engagement with the content. We also produced a podcast on the federal budget that has been downloaded more than 2600 times.
ENGAGING WITH CURRENT ISSUES
In 2019, we commissioned research on topics important to our members and the profession. This led to the development and publication of a range of guides and resources to assist members, as well as webinars and podcasts with experts from across the profession which included:
• 10th Annual Asia-Pacific Small Business Survey
• Hong Kong SAR Economic Sentiment Survey 2020
• 2019 Mainland China Economic and Business Sentiment Survey
• Gender Equality in the Malaysian Workplace
• Commentary on the final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
• Technology and the Future of the Profession
• Podcasts and presentation on how data analytics, AI and automation are being integrated into external audit
• Regulating transparency and disclosures on modern slavery in global supply chains
• Implementing AASB 16/IFRS 15 – Are Preparers Ready?
MOVING FORWARD
• Increase our focus on international markets with new policy advisers located in Hong Kong SAR and Malaysia
• Continue to enhance member engagement through delivery of the policy update series, presentations and involvement in conferences and events
• Reinvigorate the Centres of Excellence
• Increase focus on technology and digital transformation and the impact on the accounting profession
• Continue to enhance collaboration with other key stakeholders on critical matters for members and the accounting profession
• Explore new ways for members to provide input into policy and advocacy positions
