Annual General Meeting

Notice

The 91st Annual General Meeting of Chartered Accountants Australia and New Zealand will be held on Thursday 28th November 2019 at 4.30pm NZDT at:

Chartered Accountants House
Level 7, 50 Customhouse Quay
Wellington, New Zealand

The location of the Chartered Accountants Australia New Zealand AGM changes each year to reflect our diverse member base and geographies.

Each Member will receive a formal Notice of the Annual General Meeting in accordance with By-Laws 65 and 149(a).

Business

1. To receive and consider the Annual Report of the Board, the General Purpose Financial Report for the year ended 30 June 2019, and the report of the auditor.
2. To approve the appointment of Grant Thornton as the external auditor of Chartered Accountants Australia and New Zealand, for an initial term of five years.  The term of the new auditor will commence with the fiscal year ended 30 June 2020.
3. To approve a remuneration pool of AUD $950,000 (fixed for 3 years from 1 January 2020 – 31 December 2022) for Directors, the President and the two Vice Presidents of Chartered Accountants Australia and New Zealand.

Attending the AGM

• Members wishing to attend the Annual General Meeting in person should register at: agm@charteredaccountantsanz.com.  
• Members are invited to join the Board and Council for light refreshments following the meeting.
• If you are unable to attend the AGM in Wellington please consider viewing the webcast and completing an Appointment of Proxy form, which will be attached to the formal Notice of Annual General Meeting that will be sent in advance of the meeting via email pursuant to By-laws 65 and 149(a).

Annual Report

The Chartered Accountants Australia and New Zealand Annual Report will be available on our website from early October.

Members who have any questions concerning the Annual Report can register these with the Chief Executive Officer, by emailing: annualreport@charteredaccountantsanz.com. Answers to frequently asked questions will be made available on the website.

Other Business

A Member entitled to vote and wishing to bring before this meeting any motion or business not relating to the ordinary business of the meeting must, together with nine or more other Members, give notice of that motion or business in writing to the Chief Executive Officer at least 60 days before the meeting (see By-Law 68).

If Members have questions regarding the Annual General Meeting they should contact Ms Wendy Zammit, Manager Governance on wendy.zammit@charteredaccountantsanz.com.

Remuneration

One of the items members of Chartered Accountants ANZ will vote at the upcoming Annual General Meeting is to approve an increase in the pool that pays Director and Office Bearer remuneration in line with the market.

This follows a market-based review by remuneration specialists Egan Associates of the fees paid to the Chair of the Board and Directors, Chair of the Audit & Risk Committee and the President and two Vice Presidents which are currently below market and haven’t increased since the amalgamation in 2014.

The CA ANZ Council considered and recommends the proposed remuneration increases, subject to Members approving the new remuneration pool during a vote on three items of business at the AGM. The CA ANZ Council believes the remuneration increase is justified and that the timing is appropriate.

Why an increase now?

Remuneration for Directors and Office Bearers Chartered Accountants Australia and New Zealand's By-Law 136A states that the remuneration of the Directors, President and Vice Presidents shall be based on market rates determined by the Council, based on a recommendation from the Nominations and Governance Committee within the parameters and principles approved by the Members.

A review by a KMP remuneration specialist Egan Associates found that the CA ANZ Director and Office Bearer remuneration is currently below market which affects our ability to attract and retain people with the appropriate capability and experience to the Board. In addition, remuneration for Director and Office Bearer’s has not changed since the amalgamation in 2014.

When will the next review or increase take place?

Should the change be approved by members at the AGM, the remuneration pool will be fixed for 3 years from 1 January 2020 – 31 December 2022.

What is the current remuneration for Directors and Office Bearers?

This information is disclosed each year in the Annual Report and the up to date information is as follows: