Date posted: 14/03/2018 5 min read

Tasmanian Regional News March 2018

Updating you on recent and forthcoming activities in Tasmania

In brief

  • Update from Paul Breen, Tasmania Chair
  • Update from Andrew Quinlan, Deputy Regional Manager

March Paul Breen update

It’s been a busy few weeks for CA ANZ in Tasmania, with our meeting and certificate presentation in Launceston last month featuring guest speaker, 2018 CA ANZ President Jane Stanton. It was a fantastic opportunity for members to meet Jane and she presented certificates to recipients for Public Practice, service awards, merit and new memberships.

Jane, along with CA ANZ Council member Hugh McKenzie, our Deputy Chair Lyndal Kimpton and our Deputy Regional Manager Andrew Quinlan, also took the time to meet with the University of Tasmania to discuss education pathways into the accountancy sector and ways we can work together to encourage more students into our industry and ensure they have the right skills for success.

This follows a survey conducted late last year by CA ANZ which found businesses were turning to on-the-job training and online courses to fill employee skills gaps, as a result of education courses failing to prepare them for the workplace.

The Future of Talent

You can read more about the survey’s findings in the latest CA ANZ future[inc] paper, The Future of Talent

Learn more

Being able to attract and retain high quality, passionate staff is critical to the ongoing success of our industry and the Tasmanian Regional Council will continue to work closely with the Tasmanian education sector to ensure we can attract the right people and ensure they have the right skills for success.

As promised last month, I will be taking the opportunity to introduce you to members of our Council over the next few insight updates and this month it’s my pleasure to be talking about our Deputy Chair, Lyndal Kimpton. A Partner at Ruddicks in Launceston, Lyndal has been with the firm since 2003 and specialises in the areas of business services, audit and superannuation. She holds a certificate of registration as an Auditor by ASIC and aside from her role with the Council, is CA ANZ’s representative on the ASIC Regional Liaison Committee in Tasmania and is an independent representative on the Launceston City Council’s audit committee.

Outside of work she’s involved with the Blessington fire brigade as a volunteer fire fighter and third officer and on weekends can be found on her farm outside of Launceston caring for her animals which include sheep, cows, chooks, cats and dogs. She’s an important voice on Council and a vocal advocate for issues facing small businesses in northern Tasmania.

If there is anything you think the Council or CA ANZ can assist you with or you’ve got an issue you’d like us to look into, as always please get in touch with me.

Paul Breen FCA

Deputy Regional Manager - Andrew Quinlan

Dear members,

As promised last month and relating to our Professional Standards Liability Capping Scheme in Tasmania, I thought it would be valuable to provide an update on CA ANZ Professional Indemnity Insurance (PII) excess requirements.

Excess is a PII policy condition that requires the insured (the member) to pay a portion of the loss. Excess is usually the first amount payable by the insured (the member) in respect to any one Claim with the insurer paying the balance over that amount up to the Limit of Indemnity. In PII policies excess may also be referred to as the “deductible”.

Per Regulation CR2A.5(e)(ii) CA ANZ requires participating members of the Professional Standards Scheme to have an excess for each and every claim, the excess must not be more than:

  • the amount calculated by multiplying the number of Principals of the Practice at the beginning of the period of insurance, by $10,000, for each and every claim, OR
  • 3% of the total gross fee income of the Member and every Related Entity for the financial year immediately preceding the beginning of the period of insurance, whichever is the greater; AND
  • 5% of the indemnity cover 

For further information about PII requirements

Members can read the Regulation on CR2A Professional Indemnity Insurance in the Chartered Accountants ANZ Handbook, and also talk to your broker

Learn more

Our Professional Standards Compliance team

If you have any additional queries in regards to the scheme or insurance cover, please contact our Professional Standards Compliance team

Email

Recap of last month's events/activities

On 1 - 2 March we partnered with the Institute of Managers and Leaders to provide sessions on “Creating Mentally Healthy Workplaces” in Hobart and Launceston, respectively.

Mark Leopold, Head of Workplace Engagement for beyondblue hosted both sessions and was joined in Hobart by Mat Rowell of Relationships Australia, Lucy O’Flaherty of Glenview Community Services and Michelle Brooks of Aurora Energy and in Launceston by Breece Gevaux of Defence Force Recruiting – Tasmania and Businesswoman and Restaurateur, Bianca Welsh. Both the sessions were full houses and there was great engagement from members of both organisations during the Q&A sessions.

Upcoming events

The next couple of months will see the following exciting activities/events for members and guests in Tasmania:

Certificate Presentation Ceremony and Member Networking event featuring address by CA ANZ 2018 President, Jane Stanton FCA on 5 April at the Salamanca Inn, Hobart

Strategies for Success session on Building your Critical Exam File on 11 April at The Old Woolstore, Hobart

CA ANZ Board and Member Cocktail function on 17 May at The Henry Jones Hotel Hobart, which will be a great opportunity for Tasmanian members to meet the CA ANZ Board members, CA ANZ CEO, Rick Ellis, CA ANZ President, Jane Stanton and the new CA ANZ Senior Leadership Team.

We look forward to seeing you at one of these events or another throughout 2018.

Andrew Quinlan CA
Deputy Regional Manager – Victoria & Tasmania

Search related topics