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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Report: Member Consultation Forum - Melbourne Monday 5th March

Discussions about the constitution and how CPA Australia is run
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Magnet
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Joined: Mon Jun 19, 2017 10:18 am

Report: Member Consultation Forum - Melbourne Monday 5th March

Post by Magnet » Tue Mar 06, 2018 10:06 am

I attended the Melbourne consultation forum last night and thought I would give an very brief run down of how it went.

First to say that I attended this session with an open mind. I am not involved with any CPA groups and have only been a qualified CPA for 1 year. So I went in wanting to hear what the Board had to say and what other members thoughts are.

Brief intro from Vic Divisional President Clare Lezaja, just introducing herself and talking about the evening.

Peter Wilson then took control of the meeting.

Similar to his last email to all members and video, he acknowledged the tough year 2017 was and also the extreme disappoint that members have felt over the $4.9m pay out to Malley. Again he mentioned that they spoke to QC's etc and have been advised that no action can be taken against Malley or the old board.

He then went through the Issues Paper and the different items contained within and then opened up the floor for Q & A.

The majority of the Q & A for the evening revolved around electing the Board and what sort of model should be adopted, be it a tweak to the current system or a new direct election model.

2 members in particular really grilled Peter Wilson with hard questions focusing on holding the past Board and Malley accountable, and also the failure of CPA Advice. These members were very passionate and i think the majority of the members in the room agreed with them.

My take out of this following Peter Wilson's answers is this...the current Board do not want to focus on the past. They are not interested at all in holding people accountable for the disaster of 2017. They will do everything possible to avoid going after Malley and the past Board. Wilson stated a number of times during the evening that Malley's contract was "iron clad" and should not be taken on in Court.

One of these passionate members who has emailed the Peter Wilson a number of times asking questions, yet never received an answer, walked out in frustration. I really wish he stayed because we need people like him around!

There were also a number of past Vic presidents/council members in attendance. The common theme from them was that they used to be able to question and contribute, and have their voices heard at Board level. However about 4-5 years ago, the Board basically shut all Divsions out. They gave them nothing and refused to listen or take on advice. The Board would not listen to member criticisms and just carried on doing what they wanted. So they basically lost any power they had, and this eventually led to the member spill last year.

Overall, I do think the new board and Peter Wilson have the right intentions. They do understand what happened with the previous Board was unacceptable and the brand has been trashed. They do understand that members need more voice and that the board have too much power. And they do want to make changes to the system to get CPA back to where it should be.

However, they have absolutely NO intention of going after the previous board and Malley and holding them accountable. They want to sweep it under the rug, and just move forward without causing any further damage to the CPA brand.

And i think that is where a lot of the member frustration lies...members want someone held accountable. They want answers as to why and how these events occurred. They want full disclosure of spending etc under the past regime. However this new board does not want any of that stuff to come out. They just want to move forward.

Anyway, that about it.
Last edited by Magnet on Wed Mar 07, 2018 9:23 am, edited 1 time in total.

JWheldon
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Re: Member Consultation Forum - Melbourne Monday 5th March

Post by JWheldon » Tue Mar 06, 2018 11:19 am

Magnet. I would encourage you, to ask all your fellow CPA friends to attend the AGM, and then ask questions of the individual who knows a great deal of answers. Adam Awty CEO CFO COO etc.

Young CPA's should not be afraid to ask questions, because it will be the only way you can understand the mess, that has been created, due to the lack of proper accounting. CPA Australia, is supposed to be an accounting organisation, which is supposed to encourage and empower the young accountants who not only struggle to get jobs, but struggle to get experience. Therefore attend and ask a question. You have reminded us again, that when one asks a question, there are always others in a room, that generally want to ask the same question. Accounting is about asking questions and determining whether those resources are being effectively and efficiently used, and then asking whether are other ways to use those funds.

So if you ask questions, about the information in the financial reports, the lack of disclosure of directors fees, the lack of disclosure about CPA Australia Advise, whether the accounts presented are "True and Fair" and the manner in which the funds are being spent, then you can never go wrong. Your understanding and experience should be improved. The reality of the accounting standards, the audit standards, and the corporation law in action. The information, or lack of information that you obtained from the CPA Australia course, is far different to the operation in the real world. CPA Australia as the controller of the system, have clearly shown, that they have failed the accounting system, and failed the basics of the accounting theory that you are taught.

So again, encourage all your fellow young CPA friends to attend, or post questions, or vote, and see how the process works, or the lack of process. Much is to be learned and much is to be gained, in order to improve a clearly broken system.

Magnet
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by Magnet » Wed Mar 07, 2018 9:37 am

JWheldon wrote:
Tue Mar 06, 2018 11:19 am
Magnet. I would encourage you, to ask all your fellow CPA friends to attend the AGM, and then ask questions of the individual who knows a great deal of answers. Adam Awty CEO CFO COO etc.
Adam Awty actually was in attendance on Monday night at the forum.

But he did not say a single word.

Actually come to think of it, I dont think he has said anything to members since becoming interim CEO. No emails etc

JWheldon
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by JWheldon » Wed Mar 07, 2018 6:38 pm

May l suggest that Adam Awty, is paid a CEO and COO salary, but really does not like the lime light. He may be described as a Clayton's CEO. A CEO that you have, when you really don't have a CEO. He probably shouldn't be paid a CEO salary.

A motion of no-confidence should be made against Adam Awty, given all the problems, which he was in charge off. The overall poor advice, the poor accounting advice, relating to the use of funds associated with CPA Australia, and that of CPA Australia Advice. The lack of appropriate business plans, concerning CPA Australia Advice. The poor decisions as Chief Operating Officer, Chief Financial Officer, with regards to the use of CPA Australia membership funds for CPA Australia Advice, and the AAT, which still remaining outstanding with no likely hood of recovery. The lack of disclosure with regards to the financial accounts, and concerns of inappropriate use of membership funds for deals like the Rabbitohs, lack of disclosure concerning important issues concerning Alex Malley's contract review and renewal. He may argue, that under his tenure, that CPA Australia, has seen a great increase in revenues and cash reserves. One would argue against his position, that the increase in revenues, is largely due to year on year increase of membership fees, which is an easy mechanism to cover poor management decisions.

Therefore, Adm Awty should in the best interest of the CPA Australia membership, resign.

Magnet
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by Magnet » Wed Mar 07, 2018 11:05 pm

I would second that motion!

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Stomper
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Location: Sydney, NSW, Australia

Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by Stomper » Thu Mar 08, 2018 2:18 pm

Third!

alizzia
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by alizzia » Fri Mar 09, 2018 4:30 pm

Guys, just finished the virtual meeting held today. It was not as emotional as the meeting you had Magnet, as it was:
- only for 60 minutes
- Peter Wilson spent 15 minutes on an introduction
- Questions and feedback could only be typed into a chat line, there was no voice line for any dialogue.

I thought he did a good job. The direct member vote issue was raised yet again, the perception that CPA Australia is not attractive to Gen X and Gen Y because the brand is toxic. One member asked why it takes 4 weeks to get his letter of good standing (presumably so he can join (CA ANZ) when it should take a few days. Another asked are we merging with CA ANZ? His response was they didn’t want us when this was suggested on 4 prior occasions, why would they want us now?

However there were questions being posted which he just ignored.

“Mr Wilson, CPA Advice owes a considerable amount of money to the members of CPA Australia. The forward prospects of CPA Advice as a going concern are poor, and the prospect of recovery are remote. Will CPA Australia be taking a write down of the millions in owed by CPA Advice in the 2017 accounts? If not, why not?”

“Mr Wilson, thank you for sending out the membership numbers recently. These show a net annual increase of around 2,800 members. According to the IRP it states $30 million has been spent on marketing in the past year. Are you satisfied with the return on marketing spend, as it is costing $11,000 to acquire each addition (net) member?"

“Mr Wilson, thank you for referencing the message today on planned expanded disclosures in the 2017 annual report. The board members will have already seen the results, obviously. Will this Board be announcing an operating loss to members in April when the annual report is released?”

alizzia
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by alizzia » Fri Mar 09, 2018 4:49 pm

I pity Adam Awty….he will be the only CEO,COO in the organization’s living memory to deliver a loss. The 2016 the annual operating surplus was around $7.5 million. I am guessing it would have been similar for 2017 were it not being smashed by payouts to former CEO (Malley) & former COO (Hughes), write downs on the carrying value of CPA Advice, the cost of IPR consultants, QC’s opinions, marketing consultants, and the decision not to terminate the sponsorship with Australian Open, etc….

Magnet
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by Magnet » Sat Mar 10, 2018 1:55 pm

alizzia wrote:
Fri Mar 09, 2018 4:49 pm
I pity Adam Awty…..
I definitely don't pity him!!

And he's got over 900,000 reasons last financial year not to feel sorry for himself either!!

theallseeingeye
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by theallseeingeye » Sun Mar 11, 2018 10:49 am

Last time I met Malley, back in about 2015, he told me what a great guy Tyrone Carlin was. Look how great he has proved to be. Great at getting his snout in the trough, but not much else that has been reported. I certainly struggle to find any reporting of his achievements on behalf of CPA members.

Malley also told me at the same meeting what a great guy Awty was. :roll:

Parasites, the lot of them.

ramson
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by ramson » Sun Mar 11, 2018 7:15 pm

Third!

alizzia
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by alizzia » Mon Mar 12, 2018 1:55 pm

I pity him because his career will end in disgrace. Unlike Tyrone Carlin who scurried back to his day job, I cannot see Awty continuing after the new CEO is hired. I don't believe Awty had any influence in the Malley led period. Awty was happy to take the $900K and let things run their course. But now it is time to fix things he’s is conspicuously absent from the conversation.
Once he is fired his LinkedIn profile will say:

- COO who drove CPA in the ground
- Interim CEO who said nothing and did nothing to fix the mess

I think the amount he was paid only compound things. Who would hire a person who was so pay so exorbitantly but achieved so little?

alizzia
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by alizzia » Mon Mar 12, 2018 1:57 pm

The replay of the virtual member's forum can be found at:

https://www.cpdlive.com/cpa/recordingHa ... 902211.mp4

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The Nude CPA
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by The Nude CPA » Wed Mar 14, 2018 1:20 pm

Magnet wrote:
Sat Mar 10, 2018 1:55 pm
alizzia wrote:
Fri Mar 09, 2018 4:49 pm
I pity Adam Awty…..
I definitely don't pity him!!
No pity here, either. The sooner he's gone, the better... all of the 'old guard' need to exit.

kissofjudas
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by kissofjudas » Sat Mar 17, 2018 10:24 am

Thank you, Magnet, for your unbiased summary of the Forum & subsequent responses. It has helped me in deciding to sign the special resolutions.

alizzia
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Joined: Mon Jul 03, 2017 5:04 pm

Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by alizzia » Fri Mar 23, 2018 3:00 pm

As predicted, Adam Awty's departure announced the same day the new CEO is appointed.

http://view.e.cpaaustralia.com.au/?gs=b ... daba9e9399

alizzia
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by alizzia » Fri Mar 23, 2018 3:01 pm

Your new Board is very pleased to announce Andrew Hunter has been appointed as CPA Australia’s new Chief Executive Officer and will take up the role on 3 April 2018.

Andrew was chosen from an excellent short list of four men and four women selected from Australia and overseas. We believe he will do an outstanding job for members and this organisation.

He is a proven CEO with international experience who has demonstrated he can drive change, understand stakeholder needs, and bring out the best in organisations.

Andrew was most recently Managing Director and CEO of the Export Finance and Insurance Corporation (Efic), where he developed and implemented a new strategy that refocused the organisation on its core purpose and dramatically improved relationships with all stakeholders.

Prior to that, Andrew held several senior positions with Macquarie Group including head of Macquarie Capital Europe Middle East and Africa (EMEA).

Andrew’s annual base remuneration will be $650,000 with an at risk incentive component of one third of his base remuneration and his contract includes a mutual notice period of 6 months.

Andrew has previously completed the Ethics and Governance model of the CPA Program and he intends to complete the program in 2019.

The new Board looks forward to Andrew playing a leadership role in CPA Australia’s future.

Today we are also announcing that Adam Awty is leaving CPA Australia after 18 years to pursue other career opportunities. Adam has been interim CEO since June 2017. His former Chief Operating Officer Commercial role has been made redundant and he will receive a redundancy payment in accordance with the organisation’s policies of $843,446. His last day will be 2 April.

Adam took up the interim CEO role during the most tumultuous period in CPA Australia's history and the new Board thanks him for his efforts to keep the organisation moving ahead over this time.


Peter Wilson AM FCPA
For the CPA Australia Board of Directors

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Red_Ferrari
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by Red_Ferrari » Fri Mar 23, 2018 3:37 pm

alizzia wrote:
Fri Mar 23, 2018 3:01 pm
Today we are also announcing that Adam Awty is leaving CPA Australia after 18 years to pursue other career opportunities. Adam has been interim CEO since June 2017. His former Chief Operating Officer Commercial role has been made redundant and he will receive a redundancy payment in accordance with the organisation’s policies of $843,446. His last day will be 2 April.

Adam took up the interim CEO role during the most tumultuous period in CPA Australia's history and the new Board thanks him for his efforts to keep the organisation moving ahead over this time.
These dudes simply don't get it. Nothing has changed. Exactly what did he do to receive all of these drachmas?
All we're seeing is more of the same. More money going down the gurgler.

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nakedadmin
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Re: Report: Member Consultation Forum - Melbourne Monday 5th March

Post by nakedadmin » Fri Mar 23, 2018 6:44 pm

alizzia wrote:
Fri Mar 23, 2018 3:01 pm
in accordance with the organisation’s policies
Was it a contractual obligation? When will they start making unambiguous announcements.
The Naked Webmaster

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