HOBART - MEMBER CONSULTATION FORUM 4 April 2018 Summary

Overview of Session CPA Australia office, L2, 54 Victoria Street, Hobart 5.30pm Board member: Merran Kelsall & Ric De Santi Registered: 18 Attended: 14 Divisional Council: Opened by: Sue Shoobridge Topics Discussed Board composition and skillset Process to appointment the Board, including different models of direct election Communication between the Divisional Council and the Board CPA Australia Advice and the professional standards scheme Director terms Value for money for members Continuing Professional Development (CPD) Feedback from members and recent changes at CPA Australia Resolutions to be presented at the AGM Numbers to call an EGM Communication between members Influence of CEO over the Board CEO and Director remuneration Transparency of financial statements Role of Divisional Council Member participation in the AGM

Summary of discussion CPA members asked over 40 questions of the Board members in attendance, Merran Kelsall and Ric De Santi. Members also addressed each others’ concerns and questions. The main topics discussed at the session were: The composition and skillset of the Board, including the value of bringing ethical specialists onto the Board to balance the corporate background of most members. The value of a larger number of Board members was discussed, along with the role and title of non-members on the Board. The proposed Appointments Council and the Nominations Committee was outlined, along with the pros and cons of models of direct election. This included risks of poor voter turnout and inability to manage skills gaps on the Board. Communication between the Divisional Council and the current Board to drive positive change and to be the voice for Tasmanian members. The business case to establish CPA Australia Advice, its upcoming review and the poor experience of Public Practitioners with the professional standards schemes Director terms, with longer terms improving governance, but a third term should only be permitted under exceptional circumstances The discussion also covered: Value for money for members - comparison of Tasmanian member’s value for money with other member organisations such as the Institute of Directors, and the need for members who are mid-careers to get support from CPA Australia The narrow range of CPD offered, which is focused on tax and audit Positive feedback from members on the proactive work of the current Board in engaging members, and the timeframe for upcoming changes at CPA Australia. However, some members were concerned the changes could be too large and impact on long term governance The topics and number of resolutions to be presented at the AGM Numbers to call an EGM, and impact of frequent EGMs on the organisation The ability for members to communicate with each other, and different mechanisms that can be used to achieve this Influence of CEO over the Board, and new checks that have been put in place to limit a CEO’s ability to influence the Board The need for on-going disclosure of financial statements and the benchmarking of the CEO and Director’s remuneration Role of Divisional Council Member participation in the AGM

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