41
2015/16 ANNUAL REPORT
2015/ 16 A NNUA L REPORT
TA BLE
CONTENTSof
"This is an exciting time
for the Association and
the Members as we
venture into a global
marketplace."
? RICHA RD FISHERITCRA PRESIDENT
4. About ITCRA
6. President 's Report
8. CEO's Report
11. Business Member List
12. Cert ified Professionals
13. Recognit ion
15. Supporter Member List
16. Financial Statements
ITCRA (Information Technology Contract & Recruitment Association Ltd) is the
professional body for the ICT and white collar professional contracting and recruitment
sector in Australia and New Zealand. ITCRA Members supply and/or manage white collar
professional talent (primarily ICT) on behalf of their clients for permanent and flexible
roles, including contracting, across Australia and New Zealand as well as multiple
international markets.
Our Agenda is Membership driven, our current goals are:
Standards: ITCRA Standards to be the benchmarks for clients, candidates & regulators Influence & Advocacy: ITCRA to be the centre of informed influence & advocacy for Members Value of Membership: ITCRA Membership to be highly valued & represent integrity
ITCRA's StrategyTo provide leadership for Members based on knowledge, standards and influence.
Representation
To client organisations, candidates &
regulators as a recognised brand of
quality.
Excellence
Recognising supporting & promoting excellence in the ICT
contracting & recruitment market and
related sectors
Intelligence
ITCRA provides Members with business
intelligence, industry positioning and
programs to assist in accelerating their
business objectives
Our Vision
To provide leadership for Members based on knowledge, standards and influence.
Annual General Meeting
The 18th Annual General Meeting of the Information Technology Contract & Recruitment Association Pty Ltd (a company limited by guarantee) ACN 143 665 025 will be held at: Clicks IT Recruitment, Level 35, 360 Collins Street, Melbourne on Thursday 24th November 2016 at 11.00am.
ITCRA Contact Details
Suite 1022, L 10, Tower 4, World Trade Centre, 611 Flinders St, Melbourne 3005Tel: +61 3 8622 4700 Fax: +61 3 9600 1950Email: [email protected] Web: www.itcra.com
Auditor details
Christopher Kemp c/o Lifewealth Partners Pty Ltd Suite 2, Level 7, 99 William Street,Melbourne VIC 3001 Tel: +61 3 9670 3434 Fax: +61 3 9670 2828
ITCRA Board of Directors at the time of the
Annual General Meeting
- Richard Fischer, President ManpowerGroup Australia, New Zealand & New Caledonia
- Peter Acheson, Vice PresidentPeoplebank Australia Ltd
- Nick Bacon, Clicks IT Recruitment - Andrew Cross, Ambition Group - John McCluskey, Whizdom - Damien Ross, Davidson Group - Nicole Shepherd, Ignite Services - Jason Trevethick, Paxus Australia
Pty Ltd - Anthony Whyte, Talent International
CEO/Company Secretary:
- Julie Mills, ITCRA
Directors who retired during the year
- Duncan Thomson, Finite IT Recruitment Solutions
- Aaron Williams, Talent International
financial viability and strength of influence. I am pleased to report that Membership response to surveys of critical significance averages an 84% response rate, Membership retention continues to remain comparatively high at 94% and is an ongoing feature of ITCRA?s success.
The Association agreed this year, to institute a Commitment Recognition Program for companies who had maintained consistent Membership for 10 plus years. More importantly steady Membership growth, an 11% increase year on year, confirms that ITCRA?s key pillars of Knowledge, Standards and Advocacy are providing a service and program offering that continue to be attractive to our target markets.
Our knowledge pillar, with the support of BurningGlass, SEEK and our own unique data from SkillsMatch has gained momentum with the development of the Annual Professional Staffing Trends Report and the quarterly Infographic gaining traction across Asia Pac. The Review and Infographic provide a robust platform that informs our submissions, public presentations and the discussion of talent pools with clients and Governments.
The Recruitment Industry Benchmarking Report (RIB), the Remuneration &
As President of the ITCRA Board I am pleased to present my report for the year ending June 30, 2016. During this period the focus of the Board of Directors has been to address the need for a voice for the professional staffing sector in the face of ongoing inquiries and attacks on sectors of the industry, which have, by default captured all forms of flexible work arrangements ? including contracting.
ITCRA has, through its Defining the Future program and, it?s advocacy and compliance program worked closely with our legal advisers and our Members to develop a clear matrix of definitions, legislative guidance notes, contract templates and upgraded Certification modules to ensure a consistency of language and a benchmark for all companies to reference.
This past year has also seen the Association expand its representation across new verticals including Accounting, Engineering, Media & Digital as well as Banking & Finance. As a result the Directors have accepted, and the Members have voted unanimously in favour of a merger with the Association of Professional Staffing Companies (Global) with the managing entities - APSCo Australia and APSCo New Zealand. This is an exciting time for the Association and the Members as we venture into a global marketplace.
Membership growth is essential to be able to support companies on key issues and on increasing professionalism and standards across the sector. To maintain our voice we need an engaged Membership base for
PRESIDENT'S REPORT TO JUNE 30, 2016
M ESSAGE
PRESIDENTfrom the
"Membership retention continues to remain comparatively high at 94%
and is an ongoing feature of ITCRA?s success."
Benchmarking Report are all valued Membership services that ensure business and market knowledge is current and based on real time data analysed, collated and reviewed by experts in their field.
Ongoing change in the contracting and recruitment sector comes with an increasing need for vigilance, advocacy and a voice as clients, regulators and candidates all work independently and, at times, it feels collectively to challenge historical contracting and recruitment practices as well as established business models.
ITCRA continues to embrace many of these challenges with its evolving Membership model as a pro-active approach to remaining relevant and to encourage dialogue with wide ranging influencers that impact the sustainability of the sector. The knowledge and standards pillars of the long term strategy provide the background and the strength of argument for the majority of our advocacy program.
In the past twelve months we have responded to Inquiries in Queensland, Victoria, South Australia, Western Australia and federally as well as Reviews by Fair Work, the Productivity Commission and the Australian Tax Office. This program of advocacy has required regular input from the volunteer Committees and Working Groups as well as our legal advisers Squire Patton Boggs and, on behalf of the ITCRA Board I acknowledge that commitment.
ITCRA continued to meet with WorkCover representatives and insurers as well as various Government Procurement officers to discuss questions raised by the ongoing labour/on hire/contracting definitions used in documentation and resources and to continue to raise awareness of ITCRA?s commitment to Work Health and Safety through iSafe.
The Board of Directors
The Board had four meetings for the financial year and the Executive Directors met ten
times. I would like to thank all the Directors for their contribution, with a special thanks to Winston Wickman and Paxus Australia. Winston became the non ?elected Finance Chair for the Association and his input and advice has been most appreciated.
Financial Results
The Financial Statements report an Operating Result of $- 100,039) with Retained Earnings of $ 686,459 ? which reflects the investment in lobbying and advocacy over the past twelve months as we represented Members at a range of Government Inquiries and prepared submissions and discussion papers.
Our Platinum Partners provided significant support to achieve these results and the Association acknowledges the commitment of Arthur J Gallagher and TAL to our success and program development. I would like to also thank all our other Partners and Supporters who are noted in the Annual Report ? your involvement is much appreciated.
My appreciation of the work of the Secretariat who have delivered strong outcomes in terms of service to our Members and swift responses to an increasing level of advocacy support that has been requested by the Membership should also be acknowledged.
Finally, thank you to all Members - as it is your feedback and engagement that ensures you have an Association that is representative, responsive and committed to providing leadership based on knowledge, standards and influence.
"Ongoing change in the contracting and recruitment sector comes with an increasing need for vigilance, advocacy and a voice"
RICHA RD FISCHER
PRESIDENT, ITCRA
INTRODUCTION:
Once again I am pleased to present my CEO?s Report to the ITCRA Members and our broader community.
The Association?s Committees, Working Groups and Networks, along with the Board of Directors, have been instrumental in ensuring that the values and goals that were highlighted by the Members in our bi-annual Member Feedback survey in 2014, have continued to be supported and developed in the past year, as part of the Association?s strategy.
Member consultation and communication was recognised by Members as one of the keys to ITCRA?s success as an Association. Board policy is very clear that no campaign, program or direction is taken without a formal review of the views of the relevant stakeholders either through the Member Committees, the CEO?s Circle or a whole of Membership survey. The evidence of Member knowledge of what ITCRA can deliver continues to be testament to the success of this policy and provides a level of confidence when commencing a campaign of advocacy, knowledge sharing or standards development. Response to surveys this year has been trending at 85% as Members ensure the Directors, the Committees and the Working Groups know what their views are, and act accordingly. ITCRA?s Goals are a key driver in delivering the long term strategy of the Association and, in tandem with the Values, set the agenda for ITCRA. This year activity has been linked to the key pillars of Standards, Knowledge and Advocacy.
VALUE:
ITCRA is a brand synonymous with quality and expertise.
M ESSAGE
CEOfrom the
CEO'S REPORT TO JUNE 30, 2016
GOAL:
ITCRA Membership to be highly valued and represent integrity.
In the past twelve months we have had twenty one substantive questions from clients, candidates, Members and regulators with respect to managing issues via the ITCRA Code of Conduct and Dispute Resolution Procedures.
Parties have accessed the intervention process and, in particular the Dispute Resolution procedures to understand how to address concerns and to review obligations. The Keys to an Effective Transition (for Members and Clients) have both been highly sought after along with the Certification module which features the Code of Conduct as a key topic.
Eight matters escalated to interventions which then resulted in the parties coming to an agreed outcome ? so no complaint was formally lodged and six required mediations which Members participated in and then undertook practice improvement recommendations..
The Code and its supplementary resources, as well as the Dispute Resolution Procedures have resulted in positive reactions from clients, Members and in one important outcome a Government Department. The integrity of the Members? responsiveness through the process sets a benchmark of accountability that underpins the ITCRA brand.
GOAL:
ITCRA Standards to be the benchmark for clients, candidates and regulators.
ITCRA has strengthened its partnership with Certex International ? a quality standards organisation, to develop a program of information sharing, templates and resources to provide ITCRA Members with pathways to completing
various quality standards accreditation, as often required by clients and Government. The People and Talent Management Standard was officially launched with the first successful Member completing the program, Beacham Group, acknowledged at the Gala Dinner in Sydney in October, 2015. Fourteen other companies are either completing modules in the Standard and we have three clients who are working through the modules as part of an internal recruitment improvement program.
The iSafe and Privacy programs, along with any pre-registered ISO Standards are recognised within this program. Both the iSafe and Privacy Networks provide leading edge examples of quality workplace best practice, and represent the strongest indication of ITCRA?s committed partnership with clients and candidates, to ensure where ITCRA Members are engaged, the best of current compliance resources are available to access.
The Certified Professional Program is now embedded into the Learning Hub, which was launched this year, as a centralised partnership with training providers, relevant to the needs of those who recruit, manage or engage professional contractors and deliver permanent placements across a broad range of sectors.
Whether you are a recruiter, contract manager, team leader, senior manager or CEO, the Learning Hub has a program of interest.
The Learning Hub represents an integration of quality education, training and services to support the development of professionals in a sector that is changing rapidly. It is recognised that there is a need for individuals to be pro-active in ensuring the knowledge and skills they require are current, refreshed regularly and offer opportunities for advancement on whatever pathway is desired.
ITCRA continues to be referenced in tenders and client requests and, thanks to Members regularly reinforcing our brand with clients, we are getting opportunities to provide examples of quality practice expectations using our business and individual programs representing quality.
GOAL:
ITCRA to be recognised as an expert commentator on flexible employment, professional talent and quality workplace practices.
The Defining the Future program has provided an opportunity for industry leaders to meet and discuss the key concerns arising
Whole of Government Procurement - QLD ICT Procurement Strategic Advisory
Group- Gold Coast 2018 Commonwealth Games
(GC2018 Procurement forum) - ACT Revenue Office - ACT Justice (licensing)- Western Australia Department of
Commerce and Consumer Protection (review of Employment Agents Act)
- South Australian Government Inquiry into Labour Hire
- Productivity Commission- Fair Work Australia- Australian Tax Office ? Single Touch
Payroll- Victoria, South Australia and Western
Australia WorkCover - ACS Review of ICT Qualifications for
Australian Universities - National Qualifications Service ? New
Zealand ? Review of ICT Qualifications- Australia Bureau of Statistics - QLD Government Inquiry into Labour
Hire- Victorian Inquiry into Labour Hire - NSW Ombudsman on behalf of a group
of Members. - RCSA re the Employment Services
Industry Code - ACCC re the reforms to unfair contracts
legislation - NZ Government with the introduction of
new HWS legislation
This advocacy program is underpinned by our data collection and research program informed by SkillsMatch, BurningGlass, SEEK and iPulse Member Surveys ? and acknowledges our expertise in understanding the markets we represent.
It has been my privilege to work in partnership with proactive Committees, Working Groups and Directors. Member collegiality and support for the whole of Membership, as well as engagement with ITCRA, remains very strong and augurs well for the Association and the sector in general going forward.
JULIE M ILLS
CEO, ITCRA
from conflicting marketplace messages to do with labour hire, vulnerable workers, contractors and the push for increased regulation.
Industry leaders met twice this year to discuss a number of topics with respect to contractors, contracts and terminology and the resource development and information delivery is continuing. The outcomes of these Forums have driven the content for all Government inquiries and submissions, for presentations to regulators and Government Ministers and for presentations internationally and locally at conferences and meetings. This has been the largest investment of ITCRA funds for a number of years ? but sets a platform for the future.
The ICT Employment Trends Reports have been replaced with the Annual Professional Staffing Trends Review as well as quarterly infographs on key features of the data we capture through SkillsMatch and Burning Glass. SEEK and Staffing Industry Analysts are also leading contributors the the Annual Review.
ITCRA is a regular participant in forums to discuss the Trends and to increase the focus on developing skills in the ICT sector.
The ITCRA CEO Speaks blog has is published regularly, on key issues, It is regularly re-published in other industry publications.
ITCRA also has had a regular column in the Global Recruiter, commenting on the Australian/New Zealand market, has presented at the Global Recruiter AsiaPac Summit, at the Procurement Association Conference as well as at state and federal Government briefings, when requested.
VALUE:
ITCRA is a strong network for Members through collegiality, service and support.
GOAL:
ITCRA to be the centre of informed influence and advocacy for Members.
Members have been represented by ITCRA to:
- Queensland Government Resource Manager Joint Advisory Group,
- Queensland QAssure Advisory Committee,
- Queensland Government Procrument Industry Advisory Group
- QLD Interdepartmental Inquiry into
ITCRA BUSINESS MEMBERS AS AT JUNE 30, 2016
CERTIFIED PROFESSIONALS AS AT JUNE 30, 2016
ITCRA RECOGNITION
James Eichhorn, Davidson Group Services
Certified Professional of the Year
Melissa Patil, Davidson Group Services
CEO's Award Winner
Steve Scanlan , Recon Solutions(award accepted by Mike Rooney)
Leadership Professional of the Year
Richard Barnett , Hays Talent Solutions
Social Responsibility Award Winner
Tanya Harvey , Launch Recruitment(award accepted by Rebecca Wallace)
Social Responsibility Award Winner
ITCRA LOYALTY MEMBER RECOGNITION 2016
For demonstrating commitment to the Association and industry by
upholding the standards of ITCRA Membership
including a commitment to the ITCRA Constitution,
Code of Conduct, Rules and Guidelines for
10 years or more.
Adaps Recruitment Exclaim IT Paxus Australia Pty Ltd
Ajilon Australia Pty Ltd Experis (Greythorn) Peoplebank Australia Limited
Ambition Finite IT Recruitment Solutions Resource Solutions Group
Arthur J Gallagher Gel Group Pty Ltd Sherborne Consulting Pty Ltd
Aurec Genesis IT&T P/L Sirius Recruitment Group
BSI People Pty Ltd GMT People Speller International
Candle (part of Clarius Group) HHMC TAL
Chandler Macleod Group Infinite Consulting Talent International
Clicks IT Recruitment Innovative Business Computing TEKsystems (Talent2)
Data#3 Limited Jenny Barbour IT & Project Recruitment
Whizdom Pty Ltd
ecareer M&T Resources
AUTO INSURANCE
ITCRA LOYALTY MEMBER RECOGNITION 2016
For demonstrating commitment to the Association and industry by
upholding the standards of ITCRA Membership
including a commitment to the ITCRA Constitution,
Code of Conduct, Rules and Guidelines for
10 years or more.
ITCRA SUPPORTER MEMBERS AS AT JUNE 30, 2016
Inform at ion Technology Cont ract & Recruit m ent Associat ion Lt d
(A com pany l im it ed by guarant ee)
ACN 143 665 025
Financial St at em ent s
For t he year ended 30 June 2016
Lifewealt h Par t ners Pt y Lt d
Suite 2, Level 7, 99 William
Melbourne VIC 3000
Phone: (03) 9670 3434 Fax: (03) 9670 2828
Email: [email protected]
Cont ent s
· Directors' Report
· Auditor 's Independence Declaration
· Statement of Comprehensive Income and Expenditure
· Statement of Financial Position
· Statement of Changes in Equity
· Statement of Cash Flows
· Notes to the Financial Statements
· Directors' Declaration
· Independent Auditor 's Report
Inform at ion Technology Cont ract & Recruit m ent Associat ion Lt d ACN 143 665 025
Direct ors? Repor t
Direct ors? Records for Repor t ing ? July 2015/June 2016
Name of Director Term Experience, Qualifications & Special Responsibilities
Peter Acheson Re-elected October 2015 11 years Bachelor of Business, Bachelor of Education
Special Responsibilities:
Executive Committee from October 2013
Nick Bacon Elected October 2015 16 years
MBA
Andrew Cross Elected October 2014 18 years LLB, Law Degree, Post Graduate Diploma Legal Practice
Special Responsibilities: Working Groups, Professional Development
Richard Fischer Elected October 2015 23 years
Bachelor of Business Studies, Diploma of Business
Special Responsibilities:
President/ Executive Committee from October 2013
Leonie Knight Elected October 2013
Resigned August 2015
19 years
Special Responsibilities: Working Groups
John McCluskey Elected October 2015 20 years
Associate Dip Electronic Engineering, ITIL and Prince2 Certified
Special Responsibilities: Working Groups, Territory Committee
Damien Ross Elected October 2010
Re-elected October 2012
Re-elected October 2014
(representing new company)
20 years
B. Business Human Resources, Grad Dip Information Systems
Special Responsibilities: Working Groups
Nicole Shepherd Elected October 2015
24 years
Cert IV in HR, Advanced Certificate in Travel and Tourism
Special Responsibilities: Working Groups, Territory Committee
Duncan Thomson Re-elected October 2013
Retired November 2015
14 years
B. Arch (Hons), M. Arch
Special Responsibilities: Vice President/ Executive Committee to August 2012
Jason Trevethick Elected October 2014
16 years
Diploma in Business Management
Special Responsibilities: State Committee
Anthony Whyte Elected October 2015 30 years
Certificate IV in Leadership and Management
Certificate IV in Marketing
Special Responsibilities: State Committee
Winston Wickman Co-opted to Executive only October 2014
22 years
Bachelor of Business, Certified Practicing Accountant Special Responsibilities: Executive Committee Finance Chair
Aaron Williams Co-opted August 2014 Resigned July 2015
18 years Bachelor Economics
Direct ors? Meet ings Execut ive Com m it t ee Meet ings
Eligible t o At t ended Eligible t o At t end
Peter Acheson 4 3 8
Andrew Cross 4 4
At t ended
8
Nick Bacon 3 3
Richard Fischer 4 4 8 8
John McCluskey 3 3
Damien Ross 4 2
Nicole Shepherd 4 4
Duncan Thomson 1 1
Jason Trevethick 4 3
Aaron Williams 1 0
Anthony Whyte 3 2
Winston Wickman N/A 2 8 8
Julie Mills 4 4 8 8
Direct ors' Meet ings
At t endances by individual Direct ors for per iod July 2015/ June 2016 are as fol lows:
Direct ors' Repor t
Operat ing Result
The loss of the company for the financial year after providing for income tax amounted to:
Year ended Year ended
30 June 2016 30 June 2015
$ $
(100,039) 28,732
Review of Operat ions
The operations of the company during the year have been fully in accordance with its principal activities as set out below. The results of those operations are as detailed in the accompanying audited financial
statements of the company.
Signif icant Changes in t he St at e of Af fairs
No significant changes in the company's state of affairs occurred during the financial year.
Pr incipal Act ivit ies
The principal activity of the company during the course of the year was to provide leadership for Members,
based on advocacy, knowledge and standards.
Shor t Term and Long Term Object ives
The company?s short - term objectives during the course of the past financial year were to:
A: Increase Membership by 10%
B: Maintain Foundation Membership and achieve 10 Subscribers to iSafe
C: Upgrade the SkillsMatch program and promote it as a major reference for the IT Institute
D: Increase the profile and advocacy program
E: Return a surplus
The company's long - term objectives are to:
A: Recognise, support and promote excellence in the white collar contracting and recruitment market, in particular ICT.
B: Representation to client organisations, candidates and regulators, including Government, as a recognised
brand of quality.
C: Provide Members with business intelligence, industry positioning and programs to assist in accelerating
their business objectives.
D: Continue with short-term objectives as part of the five year plan.
E: Consider global partnership with a similar body represented in AsiaPac.
Direct ors' Repor t
Direct ors' Repor t
St rat egies
To achieve it s st at ed shor t and long t erm object ives t he com pany under t ook t he
follow ing act ions:
Program s
· Consolidated Supporter programs with key sponsorship opportunities
· Re- structured iSafe for improved financial and reporting outcomes
· Completed the re-vamp of SkillsMatch data collection
· Introduced the People & Talent Management Standard
· Introduced the LearningHub
Prof i le
· Maintenance of a strong online presence and an information rich but efficient website and
CRM system
· Increased media strategy (social, print and public), including CEO?s blog, several LinkedIn platforms
as well as CEO presentations to conferences.
· Feature articles in leading media
· Consistent iNews service that delivers business, function, compliance and research updates as
well as Special Members profiling and product announcements.
Advocacy and Research ·
Introduced Defining the Future Forums to address industry issues.
· Regularly surveyed Members for input into topics impacting the industry
· Developed Insight papers on key issues on a range of workplace topics, for submission
to Government and for publication · Promoted ITCRA as a knowledge source with access to a broad range of research and statistics
· Submitted responses to a number of labour hire inquiries
· Participated in the QGCPO Joint Advisory Group , NZ ICT Qualifications Review, the QASSURE
Strategic Committee and the AND Victorian Working Group
Key Per form ance Measures
The company measures performance through qualitative and quantitative benchmarks to assess the financial sustainability of the company and whether the short and long-term objectives are being
achieved.
Direct ors' Repor t
No signif icant change in t he nat ure of t hese act ivit ies occur red dur ing t he year .
No signif icant change in t he nat ure of t hese act ivit ies occur red dur ing t he year .
Aft er Balance Dat e Event s
ITCRA has agreed to merge with the Association of Professional Staffing Companies Global and will be known as the entity APSCo Australia, representing multiple professional staffing verticals
including ICT. APSCo New Zealand will be a separately established entity in January 2017.
These changes will significantly affect the operations of the company as the scope for Membership and programs will be broader and there will be additional financial and resource support for the organisation(s).
It will also affect the results of the operations and the state of affairs of the company in subsequent financial years as APSCo Australia and APSCo New Zealand will be entities reporting to APSCo Global,
responsible for all services to Member companies who will all be members of APSCo Global
Audit or ?s Independence Declarat ion
A copy of the auditor 's independence declaration as required under section 307C of the
Corporations Act 2001 has been included.
Signed in accordance w it h a resolut ion of t he Board of Direct ors:
Richard Fischer Pet er Acheson
Direct or Direct or
Dat ed: 18t h Novem ber 2016 Dat ed: 18t h Novem ber 2016
Direct ors' Repor t
Audit or 's Independence Declarat ion
UNDER SECTION 307C OF THE CORPORATIONS ACT 2001
To THE DIRECTORS OF: Inform at ion Technology Cont ract & Recruit m ent Associat ion Lt d
I declare that, to the best of my knowledge and belief, during the year ended 30 June 2016 there
have been:
(i) no contraventions of the auditor independence requirements as set out in the
Corporations Act 2001 in relation to the Audit; and
(ii) no contraventions of any applicable code of professional conduct in relation to the audit
Chr ist opher Kem p
C/-Lifewealth Partners Pty Ltd
Level 4, 423 Bourke Street
MELBOURNE VIC 3001
Dated: 30 July 2016
Limited Liability by a scheme approved under Professional Standards Legislation
Audit or 's Independence Declarat ion St at em ent of Com prehensive Incom e and Expendit ure
For t he year ended 30 June 2016
2016 2015
$ $
Revenue
General & Business Members Subscriptions 307,277 334,495
Other Revenue from ordinary activities 744,081 745,381
Foreign Exchange Gain 409 -
Tot al Revenue (Note: 2A) 1,051,767 1,079,876
Expenses
General Membership Profiling (1,063) (3,795)
Toolkits & Benchmarking (41,222) (49,354)
Lobbying/Advocacy/Standards/Insight (121,581) (51,025)
Connect and Functions (92,735) (72,815)
Supported Solutions (1,500) (9,759)
iSafe Client Assessment (5,416) (12,896)
Office Expenses (48,601) (47,136)
Audit Fee (7,500) (7,000)
Accounting Fees & Business Advice (1,913) (5,330)
Dues & Subscriptions (971) (397)
Rent on operating lease (42,931) (42,000)
Depreciation & Amortisation (Note:2B) (254,722) (264,413)
Employment Expenses (Note:2C) (531,651) (484,920)
Foreign Exchange Loss - (304)
Tot al Expenses (1,151,806) (1,051,144)
Operat ing prof it (100,039) 28,732
Ret ained prof it s at t he beginning of t he f inancial 786,498 757,766
Ret ained prof it s at t he end of t he f inancial year 686,459 786,498
2016 2015
$ $
Current Asset s
Cash assets- (Note:3) 640,440 718,441
Trade Debtors (Note:4) 490,680 232,477
Other Current Assets -(Note:5) 50,228 31,196
Tot al Cur rent Asset s 1,181,348 982,114
Non-Cur rent Asset s
Property, plant and equipment- (Note:6) 3,691 5,992
Intangible Assets- (Note:7) 206,720 241,623
Tot al Non-Cur rent Asset s 210,411 247,615
Tot al Asset s 1,391,759 1,229,729
Current Liabil i t ies
Trade creditors and Other Payables-(Note:8) 95,657 108,440
Provision for Employee Entitlements 65,818 47,158
Income in Advance 543,825 287,633
Tot al Cur rent Liabil i t ies 705,300 443,231
Tot al Liabil i t ies 705,300 443,231
Net Asset s 686,459 786,498
Mem bers Funds
Retained profits 686,459 786,498
Mem bers Funds 686,459 786,498
St at em ent Financial Posit ion
As at 30 June 2016
Ret ained Earnings and Tot al
Balance at 1 July 2014 757,766
Surplus attributable to the entity 28,732
Balance at 30 June 2015 786,498
Balance at 1 July 2015 786,498
Loss attributable to the entity (100,039)
Balance at 30 June 2016 686,459
St at em ent of Changes in Equit y
For t he year ended 30 June 2016
Cash Flow From Operat ing Act ivit ies
2016 2015
$ $
Receipts from Customers 1,174,710 1,224,588
Payments to Suppliers and Employees (1,035,194) (935,293)
Net cash provided by operating activities Operating 139,516 289,295
(The amounts include GST)
Cash Flow From invest ing act ivit ies
Payments for Plant & Equipment (342) (940)
Payments for Intangible Assets (Excludes GST, which is
included in operating activities)
(217,176)
(212,122)
Net Cash used in invest ing act ivit ies (217,518) (213,062)
Net increase (decrease) in cash held (78,002) 76,233
Cash at the beginning of the year 718,441 642,208
Cash at t he end of t he year (not e 1) 640,439 718,441
St at em ent of Cash Flows
For t he year ended 30 June 2016
Reconcil iat ion Of Cash
For the purposes of the statement of cash flows, cash includes cash on hand and in banks
and term deposits. Cash at the end of the year as shown in the statement of cash flows is
reconciled to the related items in the balance sheet as follows:
2016 2015
$ $
Cash and Cash Equivalents 640,440 718,441
Operating Profit (Loss) (100,039) 28,732
Add non-cash items, depreciation and amortisation 254,722 264,413
(Increase) decrease receivables (258,203) 136,065
(Increase) decrease in prepayments, deposits and accrued
revenue (19,032) 428
Increase (decrease) in trade creditors and other payables (12,783) (23,413)
Increase (decrease) in employee provisions 18,660 1,854
Increase(decrease) in income in advance 256,191 (118,784)
Net cash provided by operat ing act ivit ies 139,516 289,295
Reconcil iat ion Of Net Cash Provided By Operat ing Act ivit ies To Operat ing Prof it (Loss)
Changes in assets and liabilit ies
St at em ent of Cash Flows
For t he year ended 30 June 2016
Not e 1: St at em ent of Signif icant Account ing Policies
The financial report is a general purpose financial report that has been prepared in accordance with Australian Accounting Standards and the reduced disclosure requirements of the Australian Accounting Standards Board and the Corporations Act 2001. The company is a not
for profit entity for financial reporting purposes under Australian Accounting standards.
The financial report covers Information Technology Contract & Recruitment Association Ltd as an individual entity. Information Technology Contract & Recruitment Association Ltd is a
company limited by guarantee, incorporated and domiciled in Australia.
The financial report has been prepared on an accruals basis and is based on historical costs and does not take into account changing money values or, except where stated, current valuations of non-current assets. Cost is based on the fair values of the consideration given in
exchange for assets.
The following is a summary of the material accounting policies adopted by the economic entity in the preparation of the financial report. The accounting policies have been consistently
applied, unless otherwise stated.
Incom e t ax
The company is largely exempt from income tax pursuant to the mutuality principle of Section
50-5 of the Income Tax Assessment Act 1997.
Proper t y, Plant and Equipm ent
Each class of property, plant and equipment is carried at cost or fair value less, where
applicable, any accumulated depreciation.
(a) Plant and equipment
The carrying amount of plant and equipment is reviewed annually to ensure it is not in excess of the recoverable amount from those assets. The recoverable amount is assessed on the basis of the expected net cash flows that will be received from the assets employment and subsequent disposal. The expected net cash flows have not been discounted to present
values in determining the recoverable amounts.
Not es t o t he Financial St at em ent s
For t he year ended 30 June 2016
(b) Depreciation
The depreciable amount of all fixed assets is depreciated on a straight line basis over their useful lives to Information Technology Contract & Recruitment Association Ltd commencing
from the time the asset is held ready for use.
The depreciation rates used for each class of depreciable asset are:
Class of Asset Depreciation Rate % Plant and equipment 10%-40%
Int angible Asset s
iSafe & iThink are electronic library resources provided to Members of ITCRA.
The useful life of intangible assets are assessed at:
· Website Development 5 years straight line · iThink 5 years straight line · iSafe 2 years straight line · Contract Templates 2 years straight line
These have been valued in the accounts at cost of acquisition and are amortised over the period in which their benefits are expected to be realised. Intangible Assets are assessed annually for impairment.
Not es t o t he Financial St at em ent s
For t he year ended 30 June 2016
Not es t o t he Financial St at em ent s
For t he year ended 30 June 2016
Foreign Cur rency Transact ions and Balances
Foreign currency transactions during the period are converted to Australian currency at the rates of exchange applicable at the dates of the transactions. Amounts receivable and payable in foreign currencies at the balance date are converted to the rates of exchange
ruling at that date.
Provision for Em ployee ent it lem ent s
Provision is made for the liability for employee entitlements arising from services rendered by employees to balance date. Employee entitlements expected to be settled within one year together with entitlements arising from wages and salaries, annual leave and sick leave which will be settled after one year, have been measured at their nominal amount. Other employee entitlements payable later than one year have been measured at the present
value of the estimated future cash out flows to be made for those entitlements.
Contributions are made by Information Technology Contract & Recruitment Association Ltd to employee superannuation funds and are charged as expenses when incurred. Employees
with more than 5 years or more service are provided for long service employee leave.
Cash
For the purpose of the statement of cash flows, cash includes cash on hand and in all call deposits with banks or financial institutions, investments in money market instruments
maturing within less than two months, net of bank overdrafts.
Not es t o t he Financial St at em ent s
For t he year ended 30 June 2016
Com parat ive Figures
Where required by Accounting Standards comparative figures have been adjusted to conform with changes in presentation for the current financial year.
Revenue
Interest revenue is recognised on a proportional basis taking in to account the interest
rates applicable to the financial assets.
Revenue from the rendering of a service is recognised upon the delivery of the service to the customers. Where income is invoiced for services, memberships or sponsorships which relate to a future financial year, it is recorded as Income in advance in the Balance Sheet. Membership for the year ending 2017 are generally invoiced by 30th June 2016, which explains the high income in advance and the high trade debtors figures.
All revenue is stated net of the amount of goods and services tax (GST).
Em ployee Num bers
At 30 June 2016 there were 6 employees in the company.
Not e 2a: Revenue and Ot her Incom e
2016 2015
Operating Activities
Skills Match Revenues 2,000 1,500
General & Business Membership fees 307,277 334,495
Special Member Revenue - Subscriptions, Sponsorship,
Support and Commissions 497,266 483,209
Certification Fees 19,831 11,608
iSafe Program 139,750 153,756
ITCRA functions 41,300 36,937
Privacy/Standards 6,045 5,750
iSafe Subscription 17,530 29,000
Interest Received 17,009 20,194
Sundry Income 3,350 3,427
Foreign Exchange Gain 409
Tot al 1,051,767 1,079,876
Not es t o t he Financial St at em ent s
For t he year ended 30 June 2016
Not es t o t he Financial St at em ent s
For t he year ended 30 June 2016
Not e 2b: Expenses, Depreciat ion and Am or t isat ion
2016 2015
Plant, Equipment & Furniture 2,644 2,447
Total Depreciation 2,644 2,447
Website Development & Software 27,464 31,006
iSafe Intangible 216,386 224,622
Contract Templates Intangible 1,890 -
iThink Intangible 6,338 6,338
Total Amortisation 252,078 261,966
Total Depreciation and Amortisation 254,722 264,413
Not e 2c: Em ploym ent Expenses
Wage and Salaries 461,368 420,363
Superannuation 63,789 61,647
Training 3,507 1,160
Workers Compensation Insurance 2,987 1,750
Total Employment Expenses 531,651 484,920
Not e 3: Cash asset s
Bank Accounts 81,887 103,831
Term Deposit 558,553 614,610
640,440 718,441
Not e 4: Receivables
Trade Debtors 490,680 232,477
490,680 232,477
Not e 5: Ot her Asset s 2016 2015
Deposit Bond 10,500 10,500
Prepayments 28,912 20,696
Accrued Revenue 10,816
50,228 31,196
Not e 6: Plant and Equipm ent
Computers & Office Equipment 13,221 12,879
- Less: Accumulated depreciation (9,530) (6,887)
Total 3,691 5,992
Movem ent in Fixed Asset s
Computers and Office Equipment
Written down value 30/6/2015 5,992
Purchases 342
Depreciation (2,643)
Written down value 30/6/2016 3,691
Not es t o t he Financial St at em ent s
For t he year ended 30 June 2016
Not es t o t he Financial St at em ent s
For t he year ended 30 June 2016
Not e 7: Int angible Asset s 2016 2015
Website Developments - Upgrade 158,974 157,084
- Less: Accumulated Amortisation (150,926) (123,462)
8,048 33,622
iSafe Library 972,434 762,188
- Less: Accumulated Amortisation (778,937) (562,551)
193,497 199,637
iThink Library 31,690 31,690
- Less: Accumulated Amortisation (29,665) (23,327)
2,025 8,363
Contract Templates 5,040 -
- Less: Accumulated Amortisation (1,890) -
3,150 -
Total 206,720 241,622
Movem ent in Int angible Asset s
Website
Developments
iSafe Library iThink
Library
Written down value 30/6/2015 33,622 199,637 8,363
Purchases 1,890 210,246 -
Contract
Templates Total
241,622
5,040 217,176
Amortisation (27,464) (216,386) (6,338) (1,890) (252,078)
Written down value 30/6/2016 8,048 193,497 2,025 3,150 206,720
Not es t o t he Financial St at em ent s
For t he year ended 30 June 2016
Not e 8: Trade Credit ors and Ot her Payable 2016 2015
- Trade creditors 15,247 63,562
- Superannuation and PAYG Tax Payable 16,947 13,751
- Goods & Services tax Payable 63,463 31,126
Total Trade Creditors and Other Payable 95,657 108,439
Not e 9: Capit al and Leasing Com m it m ent s
Operat ing Lease com m it m ent s
Operating leases contracted for but not capitalised in the financial statements:
Payable including GST: 2016 2015 Not longer than 1 year 51,282 36,750
Longer than 1 year but not longer than 5 years 94,017 -
Not e 10: Mem bers? Guarant ee
The Information Technology Contract & Recruitment Association Ltd is a company limited in liability by a guarantee from each member. In the event that the company is wound up, the Constitution of the Association requires that each Member contributes a maximum of $100.00 each towards meeting any outstanding obligations of the company. At 30 June
2016 the number of Members was 157.
Not e 11: Key Managem ent Personnel The name and position of those having authority for planning, directing and controlling the companies? activities directly or
indirectly (other than directors) is Julie Mills, Chief Executive Officer.
Not e 12: Cont ingent Liabil i t y and Cont ingent Asset s
There are no contingent liabilit ies or contingent Assets.
Not e 13: Com pany Det ails:
The Association is a company limited by guarantee and incorporated in Australia. Its
registered office and place of business is:
Information Technology Contact & Recruitment Association Ltd.
Suite 1022
Tower 4
World Trade Centre
611 Flinders Street
MELBOURNE VIC 3005
Not e 14: Operat ional Dependency
ITCRA largely derives its operating revenue from 2 groups of companies ? Business Members of ITCRA who are recruitment and contracting companies in the Information Technology Industry; and Supporter Members who provide services and support to IT recruitment companies and their clients in the IT industry. 37% of ITCRA?s total revenue is derived from 2 special members. Due to legislative change in the financial sector, Sponsorship income from these 2 members in its present arrangement/format is to cease from 1st July 2017. ITCRA has re-structured agreements with all sponsors and supporters to ensure that the company has
income to replace the current arrangements in place by July 1, 2017.
Not e 15: Segm ent Repor t ing - GeographicalITCRA?s office is based in Melbourne and its members are located throughout Australia and New Zealand.
Not e 16: Event s Occur ing af t er Balance Dat e
ITCRA intends forming a new business arrangement with a UK based company from 2017. Under the proposal all Membership fees of ITCRA will be charged and collected under the newly created company in which ITCRA will have an interest together with its new partner. Present members of ITCRA will resign and join the newly merged entity. It is intended the change will be effective for new annual member fees from the 1st January 2017. To compensate ITCRA for loss of membership fees a management fee will be paid by the newly created company. Under the new arrangement there will be no income in respect of New Zealand Companies. This is subject to ITCRA Member approval at ITCRA?s AGM.
Not es t o t he Financial St at em ent s
For t he year ended 30 June 2016
In accordance with a resolution of the directors of Information Technology Contract & Recruitment Association Ltd, pursuant to S 295 (5) of the Corporations Act 2001 the directors declare that:
1. the financial statements and notes are in accordance with the Corporations Act 2001 and the Corporations Regulations 2001 (a) comply with the reduced disclosure Australian Accounting Standards as outlined in Note 1 to the accounts. (b) give a true and fair view of the company?s financial position as at 30 June 2016 and of its performance and cash flows for the year ended on that date of ITCRA Ltd.
2. in the Directors' opinion, there are reasonable grounds to believe that the company
will be able to pay its debts as and when they become due and payable.
This declarat ion is m ade in accordance w it h a resolut ion of t he Board of Direct ors.
_
Richard Fischer
Direct or
Dat ed: 18t h Novem ber 2016
Pet er Acheson
Direct or
Dat ed: 18t h Novem ber 2016
Direct ors? Declarat ion
Independent Audit or ?s Repor t
Chr ist opher Kem p Char t ered Account ant
C/ - Lifewealt h Par t ners Pt y Lt d ABN 38 427 940 567 Suite 2, Level 7, 99 William Street Melbourne Vic 3000 Telephone: 9670 3434 Facsimile: 9670 2828
Repor t on t he Financial Repor t
I have audited the accompanying financial report of Information Technology Contract & Recruitment Association Ltd (the company), which comprises the Directors' Declaration, the Statement of Comprehensive Income and Expenditure, the Statement of Financial Position, Statement of Cash Flows, Statement of Changes In Equity, a summary of significant accounting
policies and other explanatory notes for the financial year ended 30 June 2016.
The Direct ors' Responsibil i t y for t he Financial Repor t
The directors of the company are responsible for the preparation and fair presentation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards (including Australian Accounting Interpretations) and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error. In note 1, the directors also state the accounts have been prepared in accordance with the
reduced disclosure requirements of the Australian Accounting Standards Board.
Audit or 's Responsibil i t y
My responsibility is to express an opinion on the financial report based on my audit. I conducted my audit in accordance with Australian Auditing Standards. Those Standards require that I comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor?s judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity?s preparation and fair presentation of the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity?s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the
overall presentation of the financial report.
Independent Audit or ?s Repor t
I believe that the audit evidence I have obtained is sufficient and appropriate to provide a
basis for my audit opinion.
Independence
In conducting my audit, I have complied with the independence requirements of the Corporations Act 2001. I confirm that the independence declaration required by the Corporations Act 2001, provided to the directors of Information Technology Contract & Recruitment Association Ltd on 30 July 2016 would be in the same terms if provided to the
directors as at the date of this auditor?s report.
Audit or 's Opinion
In my opinion:
a. the financial report of Information Technology Contract & Recruitment Association Ltd is
in accordance with the Corporations Act 2001, including:
(i) giving a true and fair view of the company's financial position as at 30 June 2016 and of
its performance and cash flows for the year ended on that date; and
(ii) complying with Australian Accounting Standards (including Australian Accounting
Interpretations) and the Corporations Regulations 2001;
b. The financial report also complies with Reporting Standards as disclosed in Note 1.
Em phasis of Mat t er
Without qualifying my opinion I draw attention to notes 14 and 16 in the financial report. These notes indicate important changes in ITCRA?s business plan, strategy and future income.
Basis of Account ing
Without further modifying my opinion, I draw attention to note 1 of the financial report which describes the basis of accounting. The financial report has been prepared for distribution for all members. As a result the financial report may not be suitable for another purpose.
Signed on 15th November 2016:
Christopher Kemp Registered Company Auditor
Limited Liability by a scheme approved under Professional Standards Legislation
