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
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About using Link Market Services or Computer Share Australia to elect CPAA’s director(s).

Discussions about the constitution and how CPA Australia is run
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a_stoic_ronin
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About using Link Market Services or Computer Share Australia to elect CPAA’s director(s).

Post by a_stoic_ronin » Tue Jun 13, 2017 6:20 pm

About using Link Market Services or Computer Share Australia to elect CPAA’s director(s).

My 2 cents on electing board members and the voting process to elect them:


Some of recent CPA Australia Ltd’s board members;

  • (1) had conflicted self-interest above organisation’s good,
  • (2) were incompetent,
  • (3) were irresponsible, and
  • (4) acted in reckless manner at times.


My opinion to avoid this is as follows.

  • (1) More than 50% of the board members should be CPA or CA (although I would prefer FCPA or FCA).
  • (2) When a new director needs to be appointed at CPAA as a result of the end of the term, resignation, retirement, death or legal incapacitation of a serving director then the procedure should be;
  • (a) advise CPAs by email about the vacancy and invite applications,
  • (b) advertise vacancy on seek (seek.com.au) and LinkedIn so that CAs are aware about the vacancy too,
  • (c) every CPA/FCPA/CA/FCA who nominates herself/himself as a candidate for the position of director should pay a small fee (a $100.00 or $200.00 may be),
  • (d) every candidate registered for the vacancy should be given contact details of CPA voting members so that she/he can communicate her or his merits to the members,
  • (e) CPAA’s voting members should be able to cast their vote on Link Market Services or Computer Share Australia (or any such online secure voting system),
  • (f) if there are 2 vacancies but 300 candidates then each member should be allowed to cast 2 votes out of 300 on Link Market Services or Computer Share Australia,
  • (g) Link Market Services or Computer Share Australia voting results should be made public after the voting concludes.

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a_stoic_ronin
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Re: About using Link Market Services or Computer Share Australia to elect CPAA’s director(s).

Post by a_stoic_ronin » Tue Jun 13, 2017 6:23 pm

I could not get the formatting right or there might be a bug in the bullet point code, I don't know, here is the PNG file with correct formatting.

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The Nude CPA
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Re: About using Link Market Services or Computer Share Australia to elect CPAA’s director(s).

Post by The Nude CPA » Tue Jun 13, 2017 11:12 pm

Isn't having CAs on the board a massive conflict of interest? Although I do recognise that some people are members of both...

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a_stoic_ronin
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Re: About using Link Market Services or Computer Share Australia to elect CPAA’s director(s).

Post by a_stoic_ronin » Wed Jun 14, 2017 12:41 am

Isn't having CAs on the board a massive conflict of interest?


I was just throwing some ideas, the reasoning behind the idea was the same as you mentioned, i.e. some are member of both.

But I take back my words:
(1) More than 50% of the board members should be CPA or CA (although I would prefer FCPA or FCA).


It should have been:
(1) More than 50% of the board members should be CPAs or FCPAs. or CA (although I would prefer FCPA or FCA).
Now the question is there a potential to use electronic share registry services to empower and involve members in the process of selecting directors?

chuck_meister
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Re: About using Link Market Services or Computer Share Australia to elect CPAA’s director(s).

Post by chuck_meister » Wed Jun 14, 2017 10:56 am

My two cents.

Perhaps there should be more independent directors. The two at the moment are
too few. Perhaps four is good number. Set a time limit of three years where the
"independence" expires. The remuneration committee should have a majority of
independent directors on it.

When a director ceases being independent, they should step down, though they
can renominate for any other non-independent directorship as long as they remain
within the maximum tenure. Ideally maximum tenure should be reduced back
down to six years.

deaneus
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Re: About using Link Market Services or Computer Share Australia to elect CPAA’s director(s).

Post by deaneus » Wed Jun 14, 2017 12:27 pm

Why would there be a fee?

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The Nude CPA
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Re: About using Link Market Services or Computer Share Australia to elect CPAA’s director(s).

Post by The Nude CPA » Wed Jun 14, 2017 6:20 pm

chuck_meister wrote:
Wed Jun 14, 2017 10:56 am
Perhaps there should be more independent directors.
I was thinking the same thing.

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The Nude CPA
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Re: About using Link Market Services or Computer Share Australia to elect CPAA’s director(s).

Post by The Nude CPA » Wed Jun 14, 2017 6:31 pm

a_stoic_ronin wrote:
Wed Jun 14, 2017 12:41 am
(1) More than 50% of the board members should be CPAs or FCPAs. or CA (although I would prefer FCPA or FCA).
This is already the case, isn't it?
a_stoic_ronin wrote:
Wed Jun 14, 2017 12:41 am
Now the question is there a potential to use electronic share registry services to empower and involve members in the process of selecting directors?
That should be possible, although CPAA should have the IT infrastructure to facilitate this -- "the leadership" continually spruiks that it has invested heavily in this area. A process that operates independently of CPAA might be more well-received by members, however...?

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a_stoic_ronin
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Re: About using Link Market Services or Computer Share Australia to elect CPAA’s director(s).

Post by a_stoic_ronin » Wed Jun 14, 2017 9:58 pm

Perhaps four is good number. Set a time limit of three years where the
"independence" expires. The remuneration committee should have a majority of
independent directors on it.

When a director ceases being independent, they should step down, though they
can renominate for any other non-independent directorship as long as they remain
within the maximum tenure. Ideally maximum tenure should be reduced back
down to six years.

- chuck_meister
I completely agree.

Why would there be a fee?

- Deaneus
Sorry it was a bad idea. I take it back.

This is already the case, isn't it?

- The Nude CPA
You are right, absolutely right.

I wrongly assumed the majority of the board would be non-CPAs like Malley.

The governance by the board left a lot of wanting in respect of ethics, integrity, and honesty which I would normally expect from CPAs. Hence at the time of writing I assumed the majority of the board was non-CPAs.

If I am not wrong with my opinion that the board left a lot of wanting in respect to ethics, integrity, and honesty, then it is an another reason why members should be able to vote and elect the board members. I could be wrong but probably the most cost effective way to do it should be using an online voting system.

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The Nude CPA
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Re: About using Link Market Services or Computer Share Australia to elect CPAA’s director(s).

Post by The Nude CPA » Wed Jun 14, 2017 10:05 pm

a_stoic_ronin wrote:
Wed Jun 14, 2017 9:58 pm
I could be wrong but probably the most cost effective way to do it should be using an online voting system.
Not just that; it would ensure everyone has the chance to vote.

I'm all for online voting.

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