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In the wake of the KPMG exam cheating scandal, the professional body encourages submissions from members.
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CA ANZ specifies terms of conduct review
19 August 2022
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CA ANZ has released the terms of reference for its Professional Conduct Framework Review and appointed former federal court justice Dennis Cowdroy to provide an independent assessment of its findings and recommendations.
The body said the review was an important next to ensure its conduct rules were “robust” and encouraged submissions by members.
The review was announced last month in the wake of the KPMG exam cheating scandal, which emerged two years ago and involved hundreds of employees who were CA ANZ members.
A US regulatory body investigated and fined KPMG US$450,000 but a subsequent inquiry by CA ANZ, which handed down its findings in July, imposed sanctions against just eight members whose names were withheld.
CA ANZ simultaneously announced a review of its rules but its handling of the affair provoked a storm of criticism, including a large volume of feedback on Accountants Daily, that forced the body to defend its actions.
It even provoked a short-lived campaign to unseat the board at the upcoming October AGM, which despite a flood of support was rapidly withdrawn.
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CA ANZ CEO Ainslie van Onselen said the review was an important next step in ensuring the body’s professional conduct framework remained robust and in line with global best practice.
“This is the most comprehensive review of its type in more than five years, and member engagement is essential to ensure that our professional conduct framework remains in line with global best practice,” she said.
“CA ANZ members and the general public can make submissions, and we encourage interested parties to participate and share their views.
“A key element of this review will be direct feedback from members, and I strongly encourage engagement with this process, which will inform future conduct to which all chartered accountants are subject.”
She said the appointment of Mr Cowdroy, who is a former federal court justice and ACT Integrity Commissioner, added “another layer of assurance to the review, ensuring the recommendations are as comprehensive and thorough as possible”.
The review will examine:
- the bylines relating to professional conduct and disciplinary functions.
- the professional conduct committee and tribunal structures and administrative arrangements.
- the scope and content of supporting materials for members relating to ethical disclosure obligations.
- the CA Program academic integrity policies with the professional conduct and discipline by-Laws and regulations, considering specifically how academic misconduct is notified and addressed.
The review will be coordinated and overseen by a Professional Conduct Review Committee and the full terms of reference can be viewed here.
The review body will meet for the first time later this month and submissions are open until 5:00pm AEST 30 November 2022.
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