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When can we expect the S202B full disclosure of directors fees?

This covers the board and management of CPA Australia
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Brett Stevenson
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When can we expect the S202B full disclosure of directors fees?

Post by Brett Stevenson » Fri May 12, 2017 2:44 pm

I have no idea, but there should be no legitimate reason for a delay.
The 2016 accounts have been fully audited and the 2016 Annual Report published and Note 18 which provides the Key Management Personnel details will be supported by a presumably fully audited working paper.
Why the delay?
I would suspect they want to 'cover their tracks' a little bit and have employed a PR company to suggest how they can explain this to the membership. Remember their statement needs to be sent to all voting members (i.e. all members other than Associate members) so I'm sure they will want to put some sort of spin on it, because it is going to expose the colossal remuneration being paid to the three senior executives.
And I think we can all assume the media will be jumping all over that one, as will the membership.
I think members need to start calling the directors and ask when is this going to be released.
Don't call Head Office as the standard response there is 'if you are unhappy talk to Jeff Hughes'.
Somehow I don't think that will 'cut it' on this issue.

deaneus
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Re: When can we expect the S202B full disclosure of directors fees?

Post by deaneus » Fri May 12, 2017 3:37 pm

I'd have thought the best time to release the info, was during the budget, just so it could get lost in the noise.

By leaving it til later, it will be the only piece of news...

...which is perfect for AFR et al to jump on it.

deaneus
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Re: When can we expect the S202B full disclosure of directors fees?

Post by deaneus » Fri May 12, 2017 3:57 pm

Also

2) The company must comply with the direction as soon as practicable by:
(a) preparing a statement of the remuneration of each director of the company or subsidiary for the last financial year before the direction was given; and
(b) having the statement audited; and
(c) sending a copy of the audited statement to each person entitled to receive notice of general meetings of the company.


Say one day to email all the members.
Twelve directors, say an hour each.
Auditing each statement, an hour each.

There's no reason, other needing the statement audited, that this couldn't be done in a day, a.k.a., as soon as practicable.

JJF
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Re: When can we expect the S202B full disclosure of directors fees?

Post by JJF » Fri May 12, 2017 4:50 pm

My guess is the delay is because they are looking for a way to sell it.

My guess is that they will say the "LinkedIn Influencer" has achieved so much for members and lots of other motherhood statements.

Once members can see what the Directors and "LinkedIn Influencer" get paid and compare it to the Board of the CA, I'm hoping there will be outrage!!!!

I'm sure Joe Aston will roast them!!

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nakedadmin
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Re: When can we expect the S202B full disclosure of directors fees?

Post by nakedadmin » Fri May 12, 2017 5:00 pm

I'm just wondering about subsidiaries. How many are there? I mean is it possible for there to be subsidiaries that we do not know about? I don't know I am just wondering if this is possible.

Some members suggested that CPAA bought the coffee shop at Southbank and had a competition to name it. However, there is no business name on the CPAA ABR record. So if it's true then where is the business name registered?

Maybe this S202B is not so straight forward? Thoughts?
The Naked Webmaster

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Brett Stevenson
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Re: When can we expect the S202B full disclosure of directors fees?

Post by Brett Stevenson » Fri May 12, 2017 5:50 pm

It is CPA Australia and all subsidiaries.
That is pretty clear from the financial report and our constitution.
The accounts are audited so I think we can assume anything like that would be covered.

JJF
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Re: When can we expect the S202B full disclosure of directors fees?

Post by JJF » Mon May 15, 2017 6:35 am

Will they send it by email to all members?

I'll bet they will, yet they wouldn't give those addresses to Brett!

What a disgrace Malley and Co are.

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nakedadmin
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Re: When can we expect the S202B full disclosure of directors fees?

Post by nakedadmin » Mon May 15, 2017 12:09 pm

They might post it, probably attached to an overpriced CPD event, just to make sure no one reads it.

Just making a crazy prediction here. I think the amounts are not going to add up to what's in the annual report. I know, call me crazy.
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