President’s report: Making the case on issues that matter

The IPA has lodged with Treasury a significant pre-Budget submission, intended to influence policy decisions affecting our members and the profession.

The IPA’s submission has once again focused heavily on the key areas of superannuation, taxation and financial services. Taking a long-term strategic position on policy issues forms an important part of the IPA’s advocacy activity each year. Similarly, the IPA made a commitment on behalf of members that it would develop its own pronouncement in response to the proposed APES 230 Financial Planning Services standard.

In November 2012, the Accounting Professional and Ethical Standards Board (APESB) announced that it would pursue the APES 230 standard regardless of the level of acceptance by the profession. The APESB later moved to defer the introduction of the new standard by 12 months.

The IPA, however, did not waver from its original position to reject the standard and we have now drafted Pronouncement 11 as the most appropriate alternative to the APESB proposed standard.

Pronouncement 11 is appropriately aligned with the Future of Financial Advice legislation and upholds the high standard necessary for members to deliver effective and affordable financial planning advice to their clients. Full details of Pronouncement 11 can be viewed on the IPA website.

The IPA’s chief executive officer, Andrew Conway, has continued to represent the organisation and the profession on the international arena. His most recent trip to the International Federation of Accountants (IFAC) CEO forum provided the opportunity to share issues and discuss the challenges facing the profession globally.

I am pleased to be informed that the IPA National Congress, to be held from 7 to 9 November 2013 at the InterContinental Sanctuary Cove, on the Gold Coast, has been gaining considerable momentum, with a constant influx of delegates registering their attendance.

I encourage others not to leave it too late to register for what I view as a value-packed, information-filled, high-quality event.

Finally, as we approach the all-important subscription renewal time, I would like to take this opportunity to thank you most sincerely for your ongoing support of the Institute. By paying your renewal early, you support the Institute in the achievement of our strategic goals, which have been bold over recent years. The operational position of the IPA is planned and structured to build a long-term, strong and member-centred professional body.

The bold plan continues and the board and I, together with the steadfast endeavours of our CEO and staff, are completely committed to delivering the best possible membership experience we can.