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
Image

CPA Top Brass Over paid? ABC Report

Post Reply
Chris Catto
Posts: 18
Joined: Tue Apr 04, 2017 12:18 pm

CPA Top Brass Over paid? ABC Report

Post by Chris Catto » Mon May 15, 2017 9:52 pm

The ABC just ran a story on the disquiet at CPA on the lack of transparency of the CPA Execs.

http://www.abc.net.au/news/programs/the ... n=business


CAANZ - CEO Lee White disclosed he was on $600k

ACCA - 2016 Annual Report page 42 below states the CEO is paid between 280K-310K pounds per annum approx $500k

http://annualreport.accaglobal.com/uplo ... 5-2016.pdf

CIMA - 2016 Annual Report page 20 state CEO was paid 273k pounds

http://2016.cimaglobal.com/documents/Ac ... 202016.pdf

So is $3.8m for CPA's top three execs appropriate? ($1.7m for the board to attend 11 meetings)

Or are you disgusted and have been embarrassed by the CPA leadership?

Varys
Posts: 1
Joined: Tue May 16, 2017 2:28 am

Re: CPA Top Brass Over paid? ABC Report

Post by Varys » Tue May 16, 2017 2:46 am

Don't forget ATO commissioner Chris Jordan on 773,000 with 20,000 staff.
http://www.afr.com/news/policy/tax/atos ... 427-gvtoqw

507,000 for Malcolm Turnbull
http://www.smh.com.au/federal-politics/ ... 2o75b.html

Barry Melancon who has been the CEO of The American Institute CPA is on a whopping US$1,154,630. Though AICPA have $229,681,878 revenue and 418,000 members.
https://www.ceoupdate.com/articles/comp ... 6-top-paid

JJF
Posts: 88
Joined: Fri Apr 14, 2017 8:19 am

Re: CPA Top Brass Over paid? ABC Report

Post by JJF » Tue May 16, 2017 6:09 am

At least the remuneration of those entities is fully disclosed!!!!!

What's the big secret about the "LinkedIn Influencer"s salary.

If he was as valuable to the brand as they say, surely they could make the case by showing the benefits to members compared to his salary?

But no, dead silence from the Board and bullying of members for asking about how THEIR funds are being spent.

The next email that should come from CPA headquarters is the announcement of the "LinkedIn Influencer"s resignation (hopefully the Chairmans as well).

What a disgrace Malley and Co are.

User avatar
nakedadmin
Site Admin
Posts: 653
Joined: Thu Mar 23, 2017 4:38 pm
Location: Iceland

Re: CPA Top Brass Over paid? ABC Report

Post by nakedadmin » Tue May 16, 2017 8:36 am

Not only that but Alex Malley is doing speaking events, which are surely paid events and who get's the money. It should go to CPA Australia. And how many of these speaking events does CPA Australia sponsor, not to mention the money invested in brand Alex Malley so that he can raise his profile and get these gigs.

NBL sponsorship is disclosed in the related parties note. $756,000, Graham Wade is the Chairman of NBL.

Not to mention "research funding" how much goes to universities that Directors benefit from by having their projects funded. This is not disclosed in the related parties note but was mentioned by Tyrone at the AGM.

Some telling quotes from the story:

"The ABC has spoken to a number of former CPA Directors and the talk is mutinous. They say they don't want to be identified but they are discusted with the leadership and it's lack of transparency"

"The ABC has been told by former board members that those who didn't tow the line were out"

So basically Directors can fire Directors. The Representative Council only has a very minor (tick this box) role in the appointment of Directors so the Directors essentially get to choose who they want. But even if that Director does not "tow the line" they can be fired by the other Directors. This process and the limited role of the Representative Council is documented. Clearly Directors are only accountable to other Directors and not to the members and the Board as a whole is not accountable to anyone.

I think the TPB has some questions to answer in relation to how they determined that management is accountable to the members. There is an FOI request in with the TPB in relation to this and it's due back on 19 May (that was already extended by 2 weeks).
The Naked Webmaster

JJF
Posts: 88
Joined: Fri Apr 14, 2017 8:19 am

Re: CPA Top Brass Over paid? ABC Report

Post by JJF » Tue May 16, 2017 8:51 am

What would CPA Australia require research for? Does anyone now?

Is it through either Macquarie or Sydney University?

Was it awarded by tender?

What else are we not being told?

User avatar
nakedadmin
Site Admin
Posts: 653
Joined: Thu Mar 23, 2017 4:38 pm
Location: Iceland

Re: CPA Top Brass Over paid? ABC Report

Post by nakedadmin » Tue May 16, 2017 8:55 am

Someone needs to do the FOI request to the universities if you want to do that let me know. Unfortunately I do not have the time. I have a draft FOI request. I will message it to you.
The Naked Webmaster

Drain_The_Swamp
Posts: 27
Joined: Tue May 02, 2017 8:33 am

Re: CPA Top Brass Over paid? ABC Report

Post by Drain_The_Swamp » Tue May 16, 2017 9:20 am

The media focus on CPAA and the LinkedIn influencer seemed to be quietening down over the last week so I'm glad that the ABC is re-stoking the fire. It's also good that the ridiculous foray into financial planning - CPA Advice - is getting more scrutiny. How can CPA justify spending so much money and staff hours on 19 authorised reps? And are the overlapping board members being paid even more $$$?

User avatar
The Cyclist
Posts: 90
Joined: Fri Apr 07, 2017 2:11 pm

Re: CPA Top Brass Over paid? ABC Report

Post by The Cyclist » Tue May 16, 2017 9:28 am

Naked admin shoot the FOI template across to me and I'll hit Macquarie and any other university that the board members are linked to with it.

chuck_meister
Posts: 96
Joined: Fri Mar 31, 2017 8:58 am

Re: CPA Top Brass Over paid? ABC Report

Post by chuck_meister » Tue May 16, 2017 9:45 am

Good to see on ABC yesterday night. Now imagine if this could be extended into a four corners report. Wouldn't it be interesting to have an professional investigative journalist to dig deeper?

Sunkcost
Posts: 23
Joined: Tue May 02, 2017 9:02 pm

Re: CPA Top Brass Over paid? ABC Report

Post by Sunkcost » Thu May 18, 2017 9:09 pm

I don't see anything wrong with funding research as long as it is relevant and we know what it is.

If we are going to fund the research then it needs to be disclosed and we deserve a little credit as being a sponsor. Why wouldn't it be disclosed?

User avatar
nakedadmin
Site Admin
Posts: 653
Joined: Thu Mar 23, 2017 4:38 pm
Location: Iceland

Re: CPA Top Brass Over paid? ABC Report

Post by nakedadmin » Thu May 18, 2017 10:05 pm

Sunkcost wrote:
Thu May 18, 2017 9:09 pm
I don't see anything wrong with funding research as long as it is relevant and we know what it is.
Good point.
Sunkcost wrote:
Thu May 18, 2017 9:09 pm
Why wouldn't it be disclosed?
Good question. Maybe someone could contact CPA Australia and request the information. If anyone requests it please report back here.
The Naked Webmaster

cpasteve
Posts: 22
Joined: Wed May 03, 2017 9:24 am

Re: CPA Top Brass Over paid? ABC Report

Post by cpasteve » Fri May 19, 2017 10:19 am

chuck_meister wrote:
Tue May 16, 2017 9:45 am
Good to see on ABC yesterday night. Now imagine if this could be extended into a four corners report. Wouldn't it be interesting to have an professional investigative journalist to dig deeper?
I have heard that a Walkley Award winning 4 Corners journalist has been keenly following this issue and is aware of this forum. It was suggested they make contact with Mr Stephenson, not sure if they have as yet. Given the ABC news has done that story on it already, i'd say it's firmly on their radar.

JJF
Posts: 88
Joined: Fri Apr 14, 2017 8:19 am

Re: CPA Top Brass Over paid? ABC Report

Post by JJF » Fri May 19, 2017 10:37 am

I hope your right cpasteve!!!!

Surely then the "LinkedIn influencer" and the whole Board would have to go!

That might upset cpaveritas though, unless he has taped The Conversation" which he could watch everyday to help him get through it all!

cpasteve
Posts: 22
Joined: Wed May 03, 2017 9:24 am

Re: CPA Top Brass Over paid? ABC Report

Post by cpasteve » Fri May 19, 2017 11:58 am

JJF only issue is that most of the dirt (if any) will probably come out here and in other media (AFR etc) as it happens so 4 corners or similar won't be able to "break" the story like the Panama Papers or the greyhound story, but it's good to know they're sniffing around. That might be enough for a few to fall on their swords if there is indeed anything dodgy to come out.

Post Reply