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: ... 215-h055ej ... 211-h02x1d ... s,/8626662
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CPA Australia - education program has lost direction

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Joined: Wed May 24, 2017 6:43 pm

CPA Australia - education program has lost direction

Post by JWheldon » Wed Nov 07, 2018 12:25 pm

It is interesting that CPA Australia, that has millions of dollars of membership funds, appears to have decided to subcontract out the CPA program out to Pearson VUE. . Pearson is used with regards to the online examination program. They are seeking your feedback for Pearson in the development of the program.

Doesn't CPA Australia pay many so called experts many thousands of dollars to develop the CPA Program and its education programs?

One can only wonder, whether Andrew Hunter, after undertaking the CPA Program, arrived at the same conclusion that many other members had about the CPA program?

How much is this going to cost CPA Australia?

Maybe now Andrew Hunter is in the drivers seat, you may find a lot more of the operations of CPA Australia, will be subcontracted out, possibly performed in overseas locations.

It would be great to hear the feedback from the younger members, who are currently undertaking the program.

Have you received an email from CPA Australia seeking your input?

" Use your expertise to help develop CPA Australia exams
CPA Australia is seeking to increase its pool of subject matter experts who write and review questions for the CPA Program and foundation exams. CPAs and FCPAs are encouraged to register their interest. "

CPA Australia Subject Matter Expert Recruitment Survey 2019
CPA Australia and Pearson VUE are seeking Item Writers and Item and Exam Reviewers who will partner effectively with other accounting and finance professionals, the content development team at Pearson VUE and the education team at CPA Australia to deliver exam questions that are relevant, valid, and meet quality expectations.

If you are interested in using your expertise to help develop CPA Australia exams, please complete the following survey.

If you meet the requirements for one of the contributor roles, a Pearson VUE representative will contact you with more details about content development projects for the 2019 exams."

What do the younger members of CPA Australia think?

What do the senior members of CPA Australia think?

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Joined: Mon May 15, 2017 4:57 pm

Re: CPA Australia - education program has lost direction

Post by Nate1 » Thu Nov 08, 2018 12:26 pm

I am one of the younger members having completed in 2015

after finishing both an undergrad and postgrad uni qualification i can honestly say the CPA program is perhaps the worst and most flawed education program i have ever been involved in. From the moment you get the folder to the final exam the lack of transparency..the entire program is designed to keep fail rates exactly the way they are to keep a healthy churn rate...

The only reason i was successfully able to complete the program was through an external tutoring program which my company sponsored at the cost of $800-900 per subject which actually did the job which the CPA was unable to provide...actual mentoring...and a direction as to the exam and the focus on learning the relevant points to successfully complete.

I will say once again...

as a young CPA member recruitment see us as B grade...

WHY DON'T THE CPA's so-called leaders introduce training programs aimed at filling these holes in our employability

2. ADVANCED ASX - A Manager Level Program (Disclosure/IPO Basics/Dos and Don'ts) Pathway program to be taken seriously as an ASX Professional

there is a reason the CPA has so few if any members working in the top companies in Australia.

Are we forever destined to be pigeonholed in SMEs only?


its a two horse race for the worst run organisation the Cricket Australia and the CPA...any ones guess who will win...

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Joined: Fri Nov 09, 2018 9:24 am

Re: CPA Australia - education program has lost direction

Post by ConfusedAlice » Fri Nov 09, 2018 9:34 am


Slightly off topic but we were looking at the SMSF specialisation. The CPA website states:
Currently the only recognised education program is the SMSF Specialist Workshop offered by the Australian School of Business at UNSW.

UNSW will not be offering the course in 2018. Pending the introduction of new education requirements as part of the professional standards regime for financial advisers commencing on 1 January 2019, CPA Australia is currently assessing the potential impact on the eligibility requirements of the specialisation. A decision will be made regarding the future direction and requirements of the specialisation, including recognised SMSF education, once the professional standards requirements have been finalised.

Why is CPA still deciding what the education standards are when CA can clearly state what is required?

You also need to have successfully completed three mandatory subjects as part of an award program through UNSW:

Taxation of Superannuation
Self Managed Superannuation Funds Law; and
Taxation Strategies in Financial Planning.
These subjects must have been completed within the five years prior to your application.

Does anyone know which way CPA is heading on this?

Oh-totally agree with the previous poster. CPA designation is seen as "B" grade compared to the CA program. Why CPA won't ensure that its program is to comparable standard is beyond me.

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Joined: Wed May 24, 2017 6:43 pm

Re: CPA Australia - education program has lost direction

Post by JWheldon » Sat Nov 10, 2018 11:25 am

Great post Alice, and thanks for your input. Why do you want to undertake the SMSF Specialist course?

CPA Australia appeared to indicated that it was awaiting clear guidance as to the new education requirements relating to this area from the relevant government authority, before deciding how they will move forward in this area with regards to its programs.

One can only assume that they believe it would be better to refer members to external bodies or universities which offer the relevant courses or pathways at this current time. They may well have decided to engage another external organisation to assist with the development of the relevant course or possibility not offer it via CPA Australia at all. We will just have to wait, given the courses and guidance and approval of those courses is still to be undertaken.

Here is information from Kaplan, which may be of some assistance. Unfortunately ASIC is not very helpful. ... -advisers/

What are the new professional standards?

The introduction of a range of education and ethical standards will require new and existing advisers giving financial advice on Tier 1 financial products (excludes general insurance, deposit products and personal sickness and accident) to retail clients to meet new requirements, including:

Compulsory education requirements for both new and existing advisers;
Supervision requirements for new advisers;
A code of ethics for the industry;
An exam that will represent a common benchmark across the industry; and
An ongoing professional development component.

Importantly, the standards relate to Tier 1 financial product personal advice. Tier 2 financial products and those giving general advice only on Tier 1 products are not covered by the new standards.

Who is FASEA?

The Financial Adviser Standards and Ethics Authority (FASEA) has been tasked with governing the conduct of professionals in the financial advice sector by establishing mandatory educational and training requirements, developing and setting an industry exam, as well as the formation of a code of ethics that all advisers will be required to adhere to.

One can suggest that you contact Financial Adviser Standards and Ethics Authority (FASEA) for further guidance. ... fications/

"Guidance Note: Graduate Diploma Qualifications

The Financial Adviser Standards and Ethics Authority (FASEA)confirms there are NO APPROVED AQF 8 graduate diplomas available for the purposes of 921B(2)(a) of the Corporations Act.

FASEA will consider such programs for accreditation in the second half of 2018 after further consultation with industry and other stakeholders.


FASEA was established in 2017 to implement reforms set out in the Corporations Amendment (Professional Standards of Financial Advisers) Act 2017 – raising the professional, education and ethical standards of Australian financial advisers.

One element of this framework is determined in section 921U (2)(a)(i) where:

FASEA will approve bachelor or higher degrees, or equivalent qualifications.

In March 2018, FASEA released, for consultation, guidance regarding education pathways for degrees and equivalent qualifications. The March 2018 DRAFT consultation framework acknowledged existing approved degrees at AQF 7 (bachelor) and AQF 9 (masters) levels.

The March 2018 guidance proposed a graduate diploma pathway for Existing Advisers. This proposal currently remains the subject of consultation. The standard will be finalised later in 2018.

FASEA reaffirms there are currently no approved AQF 8 graduate diplomas available for the purposes of 921B(2)(a) of the Corporations Act. Submissions are invited from stakeholders regarding the education pathways guidance."

" Guidance Note – Approved Courses and Programs

Following a number of queries from market participants, FASEA has obtained confirmation from several education providers that they recently released materials that incorrectly indicated they had FASEA approved courses and programs. This documentation has been recalled and those in direct receipt of this information have been advised that this was in breach of our previous advice on the matter.

Any further such concerns can be raised with FASEA via our Contact Us page and or the education regulators – the Tertiary Education Standards and Ethics Authority (for higher education providers) and/or the Australian Skills Quality Authority for vocational training and education providers. " ... strictions

Chartered Accountants Australia and New Zealand has criticised the current regulatory and licensing regime as unworkable and has urged the government to consider reducing some of the restrictions facing accountants in a response to the royal commission.

by Miranda Brownlee 8 November 2018

In its submission to the interim report of the royal commission, Chartered Accountants Australia and New Zealand (CA ANZ) stated that it is in the public interest to attract and retain more accountants in the financial advice industry.

The submission said that many accountants are frustrated that professional accountants have been discouraged from providing financial advice to their clients due to regulatory and licensing restrictions.

“While this may sound counter-intuitive, consideration should be given to reducing or at least streamlining unnecessary regulatory and licensing restrictions and recognising the hard work that is required to gain and maintain membership of Chartered Accountants, including degree and post graduate studies, three years of mentoring, strict adherence to our Code of Ethics and ongoing CPD,” CA ANZ said in the submission.

“There is widespread agreement amongst Chartered Accountants that the current regulatory and licensing regime is not working, and there is concern that more regulation will hinder their ongoing ability to be the community's foundation stone for sound advice.”

The submission also noted that 66 per cent of accountants in practice (in a survey conducted by CA ANZ in May this year) said they would likely stop providing advice if FASEA’s proposed education reforms were passed in their current form.

“It is in the public interest to attract and retain more accountants in the financial advice industry by reducing unnecessary regulatory barriers,” it stated.

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