Home' Annual Report : Annual Report 2015 Contents EXPANDED PUBLIC PRACTICE
INPRACTICE magazine, examining
contemporary accounting practice
issues and challenges, moved to being
published twice yearly. The magazine
focuses on in-depth reporting of
topics such as environmental issues,
latest regulatory news, changes
in professional standards and
regulation, the impact of technology,
benchmarking and competition.
It also covers technical topics
including financial planning, tax, audit,
superannuation, findings from
the Quality Review Program
and ethical issues.
INPRACTICE has an audience of more
than 22,000 readers and is mailed to all
Australian and New Zealand members
working in public practice and
distributed at major public practice
events in Australia and overseas.
In collaboration with the
Australian Taxation Office (ATO),
we also delivered a series of activities
including face-to-face presentations,
webinars, live chats and podcasts
on the future of the tax profession
focusing on the impact of technology,
changing client expectations and
In late 2015, following the
introduction of the Accounting
Infrastruc ture Reform Bill in
New Zealand, CPA Australia also
launched a new licensing framework
for members wishing to perform
accounting-related statutory roles
and most statutory audits that were
The public practice toolkit was further
expanded with new content and
enhanced navigation introduced.
This included updated messages on
the firm of the future and examination
of the key challenges and
opportunities for members.
To further support our members in
public practice we also undertook
research into client needs, which
will be further expanded on in 2016.
DEFENDING THE INTEGRITY OF
THE CPA AUSTRALIA DESIGNATION
AND THE PROFESSION
In 2015, we ac ted to defend the
integrity and value of the CPA Australia
designation and the accounting
profession by taking a competitor
to the New Zealand High Cour t.
We considered that our competitor
overstepped the appropriate
boundaries of rivalry in its statements
and advertisements. The Judge
found that we made out elements
of actionable defamation and that
aspects of some material published
by our competitor were misleading.
As a corporate plaintiff, CPA Australia
was unable to establish pecuniary loss.
VINCENT LAM FCPA, CHAIRMAN AND CHIEF EXECUTIVE
OFFICER ASIARAY MEDIA GROUP
Vincent Lam is a proud and active
Hong Kong and Macau member.
His publicly-listed company,
Asiaray Media Group, specialises in
out-of-home media and is the biggest
airport and second biggest metro
advertising operator in China.
Educated at two Australian
universities, Vincent recognises
the value of CPA Australia,
and his membership means a lot
to him. “CPA Australia enjoys a ver y
high standing in Asia thanks to the
many Australian university graduates
in the region”.
Having done business in China
for well over 20 years, Vincent has
witnessed its changes and kept pace.
He explains that it is “not common
to find a businessman with an
accounting background, especially in
an emerging market like China, where
professionalism is very sought after.
Recognition by CPA Australia,
as a long-standing professional
body, gives investors the confidence
of a cer tain degree of corporate
He is known for being a creative
thinker, which is essential in China’s
fast moving market. When distributing
his business card, which includes his
FCPA designation, he says “some
people are astonished to see an FCPA
being a founder of something they
regard to require a high degree of
The court action was a last resort,
taken only after all attempts to resolve
the matter outside the proceedings
had been exhausted. The Judge found
that CPA Australia was justified in not
accepting its competitor’s settlement
offer as the proposed statement
did not acknowledge the defamatory
statements or conduct in breach
of the Fair Trading Act 1986 (NZ).
We will always move decisively to
defend the integrity of the CPA
designation and our members.
We thank the numerous members who
provided positive support throughout
Advocating on behalf of our members and the public interest.
THE AUSTRALIAN, 18 FEBRUARY 2015
IT’S TIME TO HAVE AN INFORMED GST DEBATE
THE AUSTRALIAN, 26 MARCH 2015
DITHERING OVER BEIJING LENDER SHOWS OUR LACK OF VISION
NEW ZEALAND HERALD, 11 MAY 2015
CHINA BUSINESS: TAKING IT TO THE NEXT LEVEL
THE ACCOUNTANT, 26 MAY 2015
FINANCIAL REPORTING – WHEN MORE IS LESS?
THE WEEKLY TIMES, 16 SEPTEMBER 2015
TAX REFORM WILL HELP AG SECTOR REACH ITS POTENTIAL
NEW STRAITS TIMES (MALAYSIA), 7 OCTOBER 2015
MALAYSIA HAS MUCH TO GAIN FROM TPP
HUFFINGTON POST AUSTRALIA, 22 OCTOBER 2015
COMPLACENCY ON INNOVATION IS NOT AN OPTION
THE NATIONAL BUSINESS REVIEW (NZ), 18 NOVEMBER 2015
PARADIGM SHIFT IN NZ AUDITOR REPORTING
SYDNEY MORNING HERALD, 23 NOVEMBER 2015
EVERYBODY WANTS TO PAY LESS TAX
AND THERE’S NOTHING WRONG WITH THAT
for integrated reporting
informing the debate
CPA AUSTRALIA 2015 INTEGRATED REPORT
LEADING THE ACCOUNTING PROFESSION INTO TOMORROW
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