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The members of the current CPA board that existed in the leadership era of Alex Malley will be be gone by the end of the year, as members are offered additional insurances to deal with the current liability cover shortfalls.
‘Major step forward’ for members locked in with CPA board
07 August 2017
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2 minute read
Current president Jim Dickson, who took over from Tyrone Carlin when he announced his early resignation in June, will remain on the board until 31 December, as will Sharon Portelli.
Terms for directors Michele Dolin, Richard Petty and Tim Youngberry end on 30 September. Director Graeme Wade will also retire at that time.
Nine new board members will be appointed from 1 October.
“These decisions have been taken after listening to members, divisional presidents and stakeholders, and in the best interests of CPA Australia. These changes create an opportunity for a fresh leadership team to unite members and take the organisation forward,” the board said in a note to members on Friday afternoon.
The NSW-based accountant primarily leading the CPA member rebellion efforts, Brett Stevenson, told Accountants Daily this is a “major step forward” in dealing with the governance issues at CPA Australia.
“Still a lot to do, but this certainly deals with a lot of the problems going forward,” he said.
In the same note, the board confirmed that CPA members who are in public practice will have access to a group member’s professional indemnity excess insurance policy at no cost.
Late last month, CPA Australia confirmed it couldn’t renew its current Professional Standards Scheme, which expires on 7 October, in time for public practice members to be protected by a limitation of liability for the provision of certain services.
The note also confirmed to members that the board has changed the composition of the nomination and remuneration committee, which aims to ensure all new directors are appointed through a “rigorous executive search process” by a majority external panel.
- This has done damage. But I am not sure which was worse the problem or the cure.0
- Agree with Wondering, Well done Brett S for putting his heart and time to the issue
This is a good outcome along with the PI issue
I do get a sense that they are finally now listening and understanding the issues now that the CEO is gone
0 - Once the dust settles on the last of the Malley acolytes walks out the door one can only hope that there is a decent corporate governance forensic analysis to fully expose the machinations of Malley and his mates over the last 10 years. This will become a case study in corporate governance failure for business students around the world in the future0
- This is a major success for the ongoing efforts of a group of every growing people who believed in what is good and should be good in a member organisation.
It just goes to show what can be achieved when one person, and this started with one person, dares to stand up for what is right against those who take for granted the exalted position of thrust that they have been placed in and break that trust.
There will be a few other member associations out their that should be concerned about the cushy deals they have been doing to feather their own nest.
Good work and continued success.
There is still a long way to go to get back the CPA organisation for its members and an enormous effort to rescue and resurrect the brand from the trashing it has received at the hands of 'that man' and his band of accomplices.0
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