Date posted: 31/10/2018 5 min read

Annual Report 2018

Chartered Accountants ANZ’s 2018 Annual Report shows a $2.2m surplus as priority projects get underway.

In Brief

  • CA ANZ reports a $2.2 million surplus, before tax adjustments, in the 2017/18 financial year
  • The result was underpinned by increased revenue and other income and falling costs
  • CA ANZ’s strategic plan is to drive improvements and greater value for members, their clients and their communities.

Interactive: Annual Report 2018

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Chartered Accountants Australia and New Zealand (CA ANZ) has made a surplus, before tax adjustments, of A$2.2 million in the 2017/18 financial year.

An update on CA ANZ’s financials and strategic initiatives for the 2017/2018 financial year is provided in the 2018 CA ANZ Annual Report, released on 31 October 2018.

The report comes against a backdrop of the profession needing to evolve and grow in the face of rapidly changing times – a view many members shared during widespread member consultation in late 2017.

The 2018 Annual Report includes significant detail on our consolidated accounts, providing a level of transparency and voluntary disclosure which is much higher than the standard.

During 2017/18, the professional body representing over 120,000 members worldwide, put in place a new strategic plan and strategic initiatives which Chief Executive Rick Ellis said gave the organisation a “clarity of purpose” for the new fiscal year.

“This is driving improvement in the way we deliver value for members, their clients and their communities.”
Rick Ellis, Chief Executive CA ANZ

The surplus in 2017/18, was underpinned by increased revenue and other income (up 1.2 per cent to $132m compared with 2016/17) and falling costs (down 5.3 percent to $129.9m). A surplus was signalled in the 2017 Annual Report.

In 2017, CA ANZ reported a deficit of $6.8m reflecting ongoing investment in technology and member services.

Strategic initiatives

The annual report details the launch of three strategic initiatives – or priority projects – which to support members more effectively and help the profession develop in a changing world.

  1. CA Program refresh – the revised flagship training will emphasise:
    • Content which is more aligned to employer needs
    • Greater choice of specialist subjects with multiple electives
    • More flexible and personalised learning options
    • Greater flexibility of entry pathways to the CA Program
    • Content that is more engaging and relevant.
  2. An online community – My CA – is being developed to help CA ANZ’s diverse member community to collectively shape its future. My CA provides a digital space in which members can connect, share, learn and collaborate.
  3. In response to member feedback on the importance of technology as a driver of disruption, CA ANZ has initiated new partnerships with the start-up community. These aim to help members engage with new technologies, access innovation that can help shape their workplaces, and build connections that can help grow and develop their businesses.

CEO Rick Ellis said a business-to-business learning initiative, and support for entry-level accounting, were also under development and more information would be shared in 2019.

Other annual report highlights

  • Membership grew to 121,418 (up 3.7 per cent from the previous year)
  • Enrolments in the CA Program rose to 23,369 (up 1.4 per cent)
  • More females entered chartered accounting than ever before, with women currently outnumbering men at the provisional (student) membership level by 52 to 48 per cent
  • 240 submissions were made to improve the business environment in Australia and New Zealand
  • The Mentor Exchange programme saw a 50 per cent increase in matches from the previous year.

Annual General Meeting 2018

The 90th Annual General Meeting of Chartered Accountants Australia and New Zealand will be held on Wednesday 28th November 2018 at 4.30pm AEDT at:

Chartered Accountants Australia and New Zealand
33 Erskine Street
Sydney, Australia

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