Merry Christmas to Peter Wilson. When it was suggested that Peter Wilson should be independent of the old board so that we can have a fresh start Peter responded with "That's your issue". Summary of the meeting here: viewtopic.php?f=23&t=594
A good summary of where we are up to by Joe Aston of the AFR, linked to from here: viewtopic.php?f=5&p=4137#p4137
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Check out some of the AFR articles, too many to list and check out some of the ABC reports: http://www.afr.com/business/accounting/ ... 215-h055ej http://www.afr.com/business/accounting/ ... 211-h02x1d http://www.abc.net.au/news/programs/the ... s,/8626662
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Request for ASIC to investigate why the delay in CPA providing the s.202B statement.

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Brett Stevenson
Posts: 450
Joined: Fri Mar 24, 2017 10:43 am

Request for ASIC to investigate why the delay in CPA providing the s.202B statement.

Post by Brett Stevenson » Wed May 31, 2017 2:21 pm

For all members information. I have requested ASIC to investigate why CPA Australia are delaying the release of the s202B statement.

Begin forwarded message:

From: Brett Stevenson <bstevenson100@gmail.com>
Subject: Unconscionable delay in CPA Australia providing s.202B statement on directors remuneration
Date: 31 May 2017 at 2:14:10 pm AEST
To: Greg.medcraft@asic.gov.au, ceo@cpaaustralia.com.au, board.secretariat@cpaaustralia.com.au, tyrone.carlin@cpaaustralia.com.au

Dear Mr Medcraft,

I, along with 100 CPA members, lodged a s.202B request on 28th April 2017 for CPA Australia to provide an audited statement disclosing the full remuneration details of the board.

We have recently followed them up with a please explain why the delay, but have had no response to date.

Could ASIC please investigate and ask them why the unconscionable delay in providing this statement given that the accounts have been finalised and audited,and the annual report including the financial report have been published.
The directors remuneration, along with those of the other three Key Management Personnel, were provided in a one figure total in the annual report.
We have requested the full disclosure statement because we do not believe this is adequate disclosure for a professional accounting body involved with setting the standards for the market.

There is no reason for this delay beyond their just being reluctant to comply with the law.
We would suggest that in view of CPA Australia’s woeful delaying tactic, that ASIC consider recommending to the government that a specific time limit be placed into s202B to prevent this from occurring again.

I shall forward this email to other CPA members and also the media because the excessive remuneration of CPA Australia Key Management Personnel in 2016 is a matter of public concern not just an internal mater for CPS Australia.

Kind regards

Brett Stevenson


Brett Stevenson CPA BComm MDiv
bstevenson100@gmail.com

User avatar
Brett Stevenson
Posts: 450
Joined: Fri Mar 24, 2017 10:43 am

Re: Request for ASIC to investigate why the delay in CPA providing the s.202B statement.

Post by Brett Stevenson » Wed May 31, 2017 2:33 pm

FYI members.
This was Greg Medcrafts' acknowledgement of receipt of my email.
It just took him 12 minutes.
Contrast that with the response time of CPA Australia leadership to emails.

Begin forwarded message:

From: Greg Medcraft <Greg.Medcraft@asic.gov.au>
Subject: Re: Unconscionable delay in CPA Australia providing s.202B statement on directors remuneration [SEC=UNCLASSIFIED]
Date: 31 May 2017 at 2:26:09 pm AEST
To: Brett Stevenson <bstevenson100@gmail.com>

Thank you for your email to the Chairman, Greg Medcraft.
Please note that this is a confirmation that we have received your email.

OFFICE OF GREG MEDCRAFT | CHAIRMAN | Australian Securities and Investments Commission

From: Brett Stevenson <bstevenson100@gmail.com>
To: Greg.medcraft@asic.gov.au, ceo@cpaaustralia.com.au, board.secretariat@cpaaustralia.com.au, tyrone.carlin@cpaaustralia.com.au,
Date: 31/05/2017 02:14 PM
Subject: Unconscionable delay in CPA Australia providing s.202B statement on directors remuneration

Dear Mr Medcraft,

I, along with 100 CPA members, lodged a s.202B request on 28th April 2017 for CPA Australia to provide an audited statement disclosing the full remuneration details of the board.

We have recently followed them up with a please explain why the delay, but have had no response to date.

Could ASIC please investigate and ask them why the unconscionable delay in providing this statement given that the accounts have been finalised and audited,and the annual report including the financial report have been published.
The directors remuneration, along with those of the other three Key Management Personnel, were provided in a one figure total in the annual report.
We have requested the full disclosure statement because we do not believe this is adequate disclosure for a professional accounting body involved with setting the standards for the market.

There is no reason for this delay beyond their just being reluctant to comply with the law.
We would suggest that in view of CPA Australia’s woeful delaying tactic, that ASIC consider recommending to the government that a specific time limit be placed into s202B to prevent this from occurring again.

I shall forward this email to other CPA members and also the media because the excessive remuneration of CPA Australia Key Management Personnel in 2016 is a matter of public concern not just an internal mater for CPS Australia.

Kind regards

Brett Stevenson


Brett Stevenson CPA BComm MDiv
bstevenson100@gmail.com

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Re: Request for ASIC to investigate why the delay in CPA providing the s.202B statement.

Post by nakedadmin » Wed May 31, 2017 2:59 pm

Nice work Brett.
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