Date posted: 20/02/2018 2 min read

Queensland regional update February 2018

All the local news from the Queensland office

In brief

  • Update from Queensland Regional Manager - Penny Ellenger
  • Upcoming events in the Queensland region

Regional Manager Update  

Hello everyone and I hope that 2018 is off to a flying start for all. There is plenty afoot this year for Chartered Accountants, and much to stay on top of. At this point in the year, it is important to remind Queensland members who operate Trust Accounts of their obligations under the Act – please see article and guidance to follow.

It is Accounting and Audit Conferences season for us, with both rapidly approaching at the end of March – a great opportunity to prepare yourself for this year’s reporting season, and connect with your peers – it is always pleasing to see the great networking happening particularly at the Audit Conference, as auditors from across the state converge – please also be reminded that we are once again running the Foundations of Audit stream to this Conference, for your emerging audit teams.

Before then, we will be welcoming our newest CA members, celebrating the achievements of the cleverest of our CA Program candidates and acknowledging our newest Fellow Chartered Accountants at the upcoming Certificate Presentation Ceremony – please do RSVP if you have not done so already and wish to attend.

Mental Health in the Workplace is a theme which has been cropping up regularly in our member conversations – so CA ANZ have produced some resources to assist and guide members through this very tricky space – and we are supporting a series of events being delivered by IML/BeyondBlue around the country if you are keen to learn more. Have a great year everyone, look after yourselves and your teams, and I look forward to engaging with you as we go through the year.

Penny Ellenger
Queensland Regional Manager

Upcoming in 2018

Key Events for March 2018

Thu 01

Townsville Networking Function

Thu 01

Rockhampton Building Knowledge Event

Tue 06

Sharing Knowledge Breakfast

Wed 07

FBT Workshop

Wed 07

Certificate Presentation Ceremony

Tue 13

Toowoomba Members Group

Wed 14

Forensic Accounting Breakfast

Wed 14

Mackay Future of Business Event

Thu 15

Employment Evening

Thu 15

Not-For-Profit Breakfast

Tue 20

Northside Discussion Group

Wed 21

Gold Coast Members Group

Wed 21

YCA - Networking Event (Gold Coast)

Mon 26

Accounting Conference

Tue 27

Audit Conference

Want to know more?

Don't hesitate to contact the Brisbane office for more information on any of these events.

Email here

Accounting Conference – 26 March 2018

The 2018 Accounting Conference explores the increasingly important role of digital innovation, big data and disruption in the accounting profession and finance industry. You will have the opportunity to hear from influential business leaders on topics such as blockchain and smart contracts, data analytics for storytelling, the latest in IFRS implementation and impairment issues, the regulators’ perspective on legislative changes, and the steps you can take to experience success as a finance business partner. Our exciting line-up of speakers will deliver insights into the newest key trends, challenges and opportunities in the finance space, as well as how you can innovate in your role, drive tangible value to your organisation and take your career further no matter your level.

Register now

Audit Conference – 27 March 2018

The 2018 Audit Conference will explore the audit of the future, delve into the impact that technology is having on audits, and give attendees the opportunity to discuss specific audit areas and sectors that continue to challenge. The programme has been developed to be practical, allowing delegates to challenge their thinking and apply actionable strategies when they return to the office. Delegates will hear from business leaders and industry experts on the topics.

Opportunities 

Creating a Mentally Healthy Workplace

The Institute of Managers and Leaders is excited to present the 2018 Leadership Outlook series on the topic of creating a mentally healthy workplace, in conjunction with beyondblue.

The Institute will be joined by members of the beyondblue workplace engagement team as they present a practical and thought-provoking workshop, followed by a panel discussion of local managers and leaders who will share their experiences.

The workshop will include a practical case study to work through your learnings. 

Locations and dates are as below, be sure to book while spaces are available!

Townsville

 13th March

Book now

Rockhampton

 14th March

 Book now

Mackay

14th March

Book now

Cairns

 15th March

Book now

Toowoomba

27th March

Book now

Brisbane

28th March

Book now

Sunshine Coast

28th March

Book now

QUT Accounting Research - Director Financial Literacy Test

Researchers at the QUT School of Accountancy invite members to support accounting research by participating in an online pilot of the director financial literacy test. Being able to ‘read and understand financial statements’ (director financial literacy) is the only legally mandated skill required of all board directors. Yet a Financial Reporting Council 2012 Survey on Director Financial Literacy found directors serving a wide range of boards in Australia may lack this capability. QUT Researchers have developed an online test for directors to verify their capability against the basic legal threshold and help directors who don’t meet the legal threshold to develop the requisite capability. We seek your expertise in completing the test and accompanying questionnaire. By participating in this research you will receive a copy of the Director Financial Literacy Checklist and Competency Framework, study research reports and access to the test.

Learn more

Members Trust Account reminder 

Members in Queensland operating or auditing trust accounts also have additional obligations imposed on them by the Queensland Trust Accounts Act 1973. Under the Act, the financial reporting period is 1 April to 31 March each year. The current reporting period concludes on 31 March 2018 and trustees are then required to provide the following:

  • a declaration (witnessed by a Justice of the Peace) stating the highest amount of monies held in a trustee’s trust account on any given day, during the financial period. This declaration is due by 14 April 2018; 
  • lodgment of a financial security based upon the above declaration to the value of one third, or $10,000, whichever is the lesser. Financial security must also be lodged by 14 April 2018; and 
  • an independent auditor’s report for the trust account for the above financial period. Audit reports are due no later than 31 May 2018. 

In addition to the obligations imposed by the Queensland Trust Accounts Act 1973 members must also meet the requirements of APES 310 Dealing with Client Monies with particular reference to section 8.3.

More information can be found here

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