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
If you are new to this website read the story so far: viewtopic.php?t=321#p1793
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
Please join this website to participate in discussions. Also join our email list at http://eepurl.com/cWsgfb
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FIGHTING FUND ESTABLISHED!

A weekly round up of the issues and progress
benito
Posts: 7
Joined: Thu Mar 30, 2017 3:37 pm

Re: FIGHTING FUND ESTABLISHED!

Post by benito » Fri Jun 23, 2017 6:56 pm

I'm In.

Heisenberg
Posts: 84
Joined: Thu May 04, 2017 5:19 pm

Re: FIGHTING FUND ESTABLISHED!

Post by Heisenberg » Fri Jun 23, 2017 7:08 pm

I wonder if Brett can provide updates as to total donations received on say a weekly basis?

CampagDom
Posts: 2
Joined: Wed May 03, 2017 11:02 am

Re: FIGHTING FUND ESTABLISHED!

Post by CampagDom » Sat Jun 24, 2017 12:48 pm

Thank you Brett - we desperately need change - I am in - Malley and his cronies should be absolutely disgusted with themselves and all their righteous self-proclaimed gumpf. Let's return respect to the profession and without delay.

Heisenberg
Posts: 84
Joined: Thu May 04, 2017 5:19 pm

Re: FIGHTING FUND ESTABLISHED!

Post by Heisenberg » Sat Jun 24, 2017 2:33 pm

If just 500 members contribute $100 each, Brett's initial target will be met.

deaneus
Posts: 161
Joined: Mon Apr 03, 2017 9:09 pm

Re: FIGHTING FUND ESTABLISHED!

Post by deaneus » Sat Jun 24, 2017 2:57 pm

The AFR article today has Brett saying he had $12,500 already

Heisenberg
Posts: 84
Joined: Thu May 04, 2017 5:19 pm

Re: FIGHTING FUND ESTABLISHED!

Post by Heisenberg » Sat Jun 24, 2017 3:26 pm

deaneus wrote:
Sat Jun 24, 2017 2:57 pm
The AFR article today has Brett saying he had $12,500 already
Great news, but plenty more needed.....

Dave
Posts: 26
Joined: Wed Jun 21, 2017 1:33 pm

Re: FIGHTING FUND ESTABLISHED!

Post by Dave » Sat Jun 24, 2017 10:41 pm

I am in and just donated.

Go Brett and team and take them all out.

Lets get our professional body back.

SadCPA
Posts: 1
Joined: Wed Jun 21, 2017 9:53 pm

Re: FIGHTING FUND ESTABLISHED!

Post by SadCPA » Sun Jun 25, 2017 8:24 am

I've just donated.

Thanks to Brett for continuing to fight the good fight.

passedfc
Posts: 113
Joined: Mon May 29, 2017 3:14 pm

Re: FIGHTING FUND ESTABLISHED!

Post by passedfc » Sun Jun 25, 2017 9:47 am

The clean up is not complete until remaining board gone along without least two executives..
We do need keep the funding going..

Ken Crout
Posts: 32
Joined: Sun Jun 25, 2017 12:10 pm
Location: Victor Harbor SA 5211

Re: FIGHTING FUND ESTABLISHED!

Post by Ken Crout » Sun Jun 25, 2017 12:25 pm

What a disgraceful misuse of members' subscriptions by this smirking narcissist and his sycophantic cronies!

I am happily donating $250 to the fighting fund with the express purpose of bringing these clowns to account.

Ken Crout
ex FCPA
Membership 338271
Joined 1973
Resigned 2013
Email : coinneach@adam.com.au
Address : 11 Gibson Avenue, Victor Harbor SA 5211
Last edited by Ken Crout on Sun Jun 25, 2017 6:15 pm, edited 2 times in total.

FCA
Posts: 14
Joined: Wed May 03, 2017 2:27 pm

Re: FIGHTING FUND ESTABLISHED!

Post by FCA » Sun Jun 25, 2017 12:55 pm

Surely the Directors are liable as a result of this mess? Grossly overpaying Malley (or awarding him such a lucrative contract) surely isn't acting in the members best interest? Its a clear breach of their duties as Directors.

Secondly most ASX listed executive contracts I've seen have a 12 month notice payout. How on earth did Malley get 2 years written into his?? Thats not commercial as the Directors would purportedly say. Hopefully the monies raised can be used to bring the Directors to account by holding them personally liable. They would either be incompetent or turning a blind eye because of the excessive Directors fees being paid.

User avatar
nakedadmin
Site Admin
Posts: 641
Joined: Thu Mar 23, 2017 4:38 pm
Location: Iceland

Re: FIGHTING FUND ESTABLISHED!

Post by nakedadmin » Sun Jun 25, 2017 12:57 pm

FCA wrote:
Sun Jun 25, 2017 12:55 pm
Secondly most ASX listed executive contracts I've seen have a 12 month notice payout. How on earth did Malley get 2 years written into his?? Thats not commercial as the Directors would purportedly say. Hopefully the monies raised can be used to bring the Directors to account by holding them personally liable. They would either be incompetent or turning a blind eye because of the excessive Directors fees being paid.
Someone said it's a $1.3m base salary so that's closer to 4 years.
The Naked Webmaster

ConcernedCPA
Posts: 21
Joined: Mon May 01, 2017 12:33 pm

Re: FIGHTING FUND ESTABLISHED!

Post by ConcernedCPA » Sun Jun 25, 2017 1:19 pm

I've just transferred mine.
Please keep up the great work.

passedfc
Posts: 113
Joined: Mon May 29, 2017 3:14 pm

Re: FIGHTING FUND ESTABLISHED!

Post by passedfc » Sun Jun 25, 2017 1:52 pm

agreed on the payout ... need to find out who signed off on the $4.9 M ...
this is outrageous..
No payment should be authorised until Awty has explained .

Robert Pelton
Posts: 1
Joined: Fri Apr 28, 2017 1:58 pm

Re: FIGHTING FUND ESTABLISHED!

Post by Robert Pelton » Sun Jun 25, 2017 4:54 pm

Just contributed.

A $4.9m golden parachute to Alex Malley??? Is the Board serious? A termination payment of this magnitude represents 2+ years of (extraordinarily high) remuneration!

Better legal minds than mine may be able to answer whether it is possible to obtain an injunction (or equivalent) to prevent the funds from leaving CPAA until the legal issues regarding the Board's authority are resolved? Given that there is at least some doubt about the validity of Mr Youngberry's appointment to the Board, the Board may have lacked a quorum at the time of the decision to terminate the CEO. In the absence of a valid quorum under the Constitution, the Board lacks the necessary authority to terminate the employment of the CEO.

Robert Pelton

Ken Crout
Posts: 32
Joined: Sun Jun 25, 2017 12:10 pm
Location: Victor Harbor SA 5211

Re: FIGHTING FUND ESTABLISHED!

Post by Ken Crout » Mon Jun 26, 2017 11:41 am

Poor old Alex! Kicked out into the cold, harsh world with only a measly $4.9 mill to keep him and his starving family out of the workhouse!

Talk about being slapped with a warm lettuce . . . this simply proves that CPA Australia needs to be placed into administration ASAP. The shattered fragments of our (at best) grossly incompetent Board are still capable of inflicting financial damage on members.

After 40 years membership, and having resigned 4 years ago, I find no difficulty in donating $250 to help boot this hopeless mob into the street.

With 160,000 disenfranchised members, how hard can it be to accumulate an $80k fighting fund?

Members past and present . . . please get behind Brett Stevenson and donate to the fighting fund now!

silversuhrver
Posts: 3
Joined: Fri Jun 16, 2017 4:28 pm

Re: FIGHTING FUND ESTABLISHED!

Post by silversuhrver » Mon Jun 26, 2017 12:11 pm

Like everyone here, I've just contributed for this fighting cause.

I'm disappointed and embarrassed with the ongoing issues that the current (and recently resigned) Board of Directors, CEO, COO, CFO and Senior Management have caused.

It has crossed my mind to not renewing my CPA membership as there is not much benefit since every CPD organised by CPA costs so much and increasing yearly while my other professional membership offers free CPD sessions (online seminars and physical) quite frequently while with lower membership fee.

A few within my network are disinterested or disenchanted with CPA Australia for various reasons. They are just paying the fees to have the affiliation.

Keep up the good work and hope we can come out on top to get to the bottom of these issues. More importantly, not only stronger governance, transparency, true/fair disclosure and better check & balance must be established in light of these but setting a better example for the accounting industry.

the.beenie
Posts: 2
Joined: Fri Jun 23, 2017 10:47 pm

Re: FIGHTING FUND ESTABLISHED!

Post by the.beenie » Mon Jun 26, 2017 1:06 pm

I have paid mine today.

The disgraceful actions of the board and management have made me question my entire membership of 15+ years.
I am totally at a loss to begin to even understand how they thought they would get away with it.....................the pigs in the trough.

User avatar
Brett Stevenson
Posts: 422
Joined: Fri Mar 24, 2017 10:43 am

Re: FIGHTING FUND ESTABLISHED!

Post by Brett Stevenson » Mon Jun 26, 2017 6:23 pm

A quick update.
We are up to $17,705.
So many great comments and letters by the members.
Just a couple of quick comments.

1. We need to keep pressure on to ensure 'legal action/redress' is forthcoming. I just do not trust the current board members, especially Graeme Wade, Richard Petty and Jim Dickson, to do this. I regard them as being a major part of the problem.

2. We need to keep the pressure on ASIC to act. This is not the time for them to 'dilly dally'. We need them to act decisively and now. We will surely support and assist. They have powers and resources that we just do not have to resolve this.

2a. I think that perhaps one of the most important tasks needed to be done in the post-Malley period is for the appointment of an independent forensic accountant to review and report on income and expenditure at CPA Australia over the last seven years with appropriate follow-up action vigorously pursued by the CPA board. We have exposed things with limited disclosure. I think a more comprehensive review will reveal much more. And it needs to be done.

3. We need spread the word to other CPA members to keep them informed and to contribute to the fund.

4. We need to thank the media for their coverage, especially the AFR. I thought Michael Stutchburys editorial and opinion piece in Mondays paper were quite exceptional.

5. It seems to me that now is the time for decisive actions to restore some pride and true professionalism into the CPA organisation and designation. There are many 'wiser heads' in the membership that can take the necessary leadership roles to do this. Not too sure at this stage how this translates into getting them there from this current 'broken' situation but it's just heartening to see some really insightful and helpful comments on moving this to some sort of tangible and positive resolution.

6. There is still a lot of 'work' to do to get satisfactory resolution to these issues with the governance review to establish a firm foundation critical. I have no confidence in the current board and senior management to oversee that. I'd encourage any members who have skills, experience, expertise, even passion perhaps, to take the initiative in restoring our organisation.

CPAwhatever
Posts: 25
Joined: Fri Jun 16, 2017 2:43 pm

Re: FIGHTING FUND ESTABLISHED!

Post by CPAwhatever » Wed Jun 28, 2017 9:24 am

Just donated, please keep up the good work.

It might be worth sending an email to the mailing list with an update and a reminder to donate. People do in general need more than a nudge... :D

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