Quarterly updates from your Australasia Council Members

Clare Bewsher and Mark Ellison

Dear Members,

Warm greetings as we approach the end of 2024 with Christmas and the summer break.

The end-of-year celebrations began in Sydney with 65 ICAEW members (and an equal number of SAICA members) enjoying our annual Christmas cruise on the harbour. It was a fantastic time for everyone, and in Melbourne, members got to try race sailing on Port Phillip Bay. Quite a tale to share with those enduring the winter back in the UK!

Canberra members held a luncheon at the renowned Commonwealth Club, while Brisbane merged its AGM with a breakfast event. Other notable events in November included the Australian Economic Update by the always engaging Paul Bloxham, HSBC Chief Economist, and a lunch for senior and retired members in Melbourne.

For all members, regardless of your location, a wide range of webinars is available. Rebecca Benneyworth's UK tax update in November, tailored for Australasia members, is consistently well-received. Even if the scheduled timings are not convenient for you, consider signing up as many of these webinars are accessible on-demand later. Also, given the significant number of members who often travel within the country and region, out-of-state members are consistently welcomed and encouraged to join in. You can discover events in different locations via the ICAEW events page.

As we close out the year, a reminder to add to your check list:

1. Membership renewal is approaching and it's worth noting the positive changes ICAEW has made in recent years.

• Most paywalls from Faculties have been eliminated, allowing all members access to valuable information included in their dues, which will remain unchanged in 2025.
• A reminder that all events for ICAEW members in Australasia are complimentary, including not only those hosted by our Sydney and Melbourne Committees but also partnership events with the Australian British Chamber of Commerce and the Australian Financial Review.
• This year we held 11 virtual workshops as part of our Critical Skills series. These CPD events, including advanced Excel training from ICAEW member and Microsoft MVP David Benaim), as well as soft skills such as strategic storytelling, growth mindset for resilience and executive and leadership presence, have been a huge success and rated highly by our members.
• The 4-part series focusing on AI and its implications for the profession was a resounding success among our members, receiving the highest event survey rating in 2024. Looking ahead to 2025, we are delighted to announce the expansion of both the virtual Critical Skills series and the AI series. If you are in a leadership role within a team, have you considered joining these interactive webinars with your team? Led by experts in their respective fields, these sessions offer a valuable learning experience. Positive feedback from members who have participated in these workshops with their teams underscores the significant value they bring, making them a worthwhile addition to your membership benefits.
• You would have received a curated email featuring over 30 CPD hours of relevant ESG content, including articles, videos, and courses. This content aims to keep you informed about important sustainability practices, which are crucial for today's business world. ICAEW will continue to provide these valuable resources to help us all stay ahead of the curve.

2. Alongside member renewal please confirm your compliance with the CPD requirements. To address some common queries:

• If you are a CA ANZ member and fulfilling CA ANZ's CPD requirements, you automatically satisfy ICAEW’s requirements. For non-practicing members, a minimum of 20 CPD hours is necessary, with 5 of these hours needing to be verifiable.
• There is no requirement to use ICAEW's CPD form; you are free to keep your records in any form, as long as they can be presented to ICAEW upon request for monitoring purposes. Likewise, you do not need a CPD certificate to support verifiable hours; instead, you can use an email confirming webinar participation, meeting agenda, etc are also adequate.
• Your CPD activities encompass a broad range of professional development efforts, from listening to leadership podcasts and attending local events to the conventional practice of reading relevant articles. The sole compulsory component is one hour of ethics training, for which ICAEW offers a complimentary course.

Learn more about CPD and what is counted as verifiable via the link. If you have fully retired, there's no CPD requirement and a life membership option could prove highly cost-efficient. If you are currently unemployed, on reduced hours and on low income, please consider the lower membership rates available. 

Finally, ICAEW Council Elections are taking place this year for the two available Australasian seats. If you wish to stand for Council, information is available in this newsletter, and the nomination deadline is 9 December. For further details, please reach out to Mary Simpson, Director of International Member Engagement, at mary.simpson@icaew.com. Elections for both seats are expected in February, and we encourage everyone to participate by voting!

Once again, thank you for your support throughout 2024 and we look forward to continuing the momentum in 2025.

Clare Bewsher and Mark Ellison

Dear ICAEW Member,

Thank you for your commitment and support to the ICAEW community across Australasia. Your active participation is invaluable and plays a crucial role in advancing our professional network.

Over the past few months, a significant highlight was the visit to Melbourne and Sydney by ICAEW President Mark Rhys, accompanied by Mary Simpson, ICAEW's Director of International Member Engagement.

During their visit, Mark and Mary engaged with several key organisations, including the Australian Auditing and Assurance Standards Board, CPA Australia, Consulate-General Melbourne, CA ANZ, the Australian Securities and Investment Commission, the Australian Institute of Company Directors, and the Treasury. Their discussions spanned various critical topics, such as Australian/UK ESG reporting and regulations, the UK Free Trade Agreement, talent mobility, the digital economy, and trust in our profession. This was of particular interest to Mark as ICAEW is modernising and strengthening its governance and has just completed the selection of its new skills-based Board which is led by an independent chair. 

Additionally, Mark and Mary had the opportunity to meet one-on-one with our members holding board or C-suite positions in global and ASX-200 companies, where their international perspectives and insights were profoundly beneficial. We also organised networking events where members in Melbourne enjoyed meeting the President at the Pan Pacific Hotel. In Sydney, members were treated to an evening of networking at the Museum of Contemporary Art, with breathtaking views of the iconic Sydney Harbour.

In Sydney, we hosted two roundtable lunches that provided a platform for ICAEW members to share their insights and exchange ideas on sustainability reporting, talent attraction strategies, diversity and inclusion, ethics, and the implications of AI. These collaborative sessions fostered meaningful conversations and allowed members to contribute their expertise to pivotal discussions.

All the institutions we engaged with agreed on the importance of maintaining open communication with their members and ensuring that their interests remain at the forefront of their initiatives. This principle is precisely what your Council members strive to uphold. We endeavour to meet as many of you as possible, listen to your feedback, and relay it to the Institute to ensure responsiveness and relevance.

Your engagement and insights are essential as we navigate this dynamic landscape together. Thank you for being an integral part of our community.

Clare Bewsher and Mark Ellison

It has been a busy time for our Institute, the Council is undertaking the most significant governance reform in its history and this multiyear project includes professionalizing its board, reframing the role of Council and many other initiatives. This will set ICAEW up effectively to confidently progress into the future.

We also have announced a new CEO, Alan Vallance as we get ready to bid farewell, in the new year, to Michael Izza, who has led the institute for 17 years. Alan is well positioned to build upon his legacy.

Plans are underway to deliver a programme of virtual and in person events supported by our Sydney Committee and Melbourne Committee, our member groups and contact members across Australia and New Zealand and with new partnerships with Australian British Chamber of Commerce and the Australian Financial Review.

We encourage you to reach out to us if there are items affecting the future of our profession or your role where you think the ICAEW should lean in or where the ICAEW could help you to succeed. In the meantime, we wish you all the best wishes for a peaceful and restful holiday season.

Clare Bewsher and Mark Ellison

Dear Members,

The last quarter saw two exclusive events for members in Australasia: an update on tax residency tests from Rebecca Benneyworth (contact the global team if you’d like a copy of the slides), and a virtual screening of ICAEW’s latest film All Too Familiar, facilitated by Ralph Martin, Partner and National Technical Director for RSM (and ICAEW contact member for Western Australia).

Social events included an EOFY networking event in Sydney and a lunch for retired members in Melbourne, we were also able to meet members in Cairns and Darwin on our travels. Thank you to everyone who has taken the time to meet with us over the past few months, it’s great to see ICAEW members thriving across the region.

Hopefully, you’re already aware of the Important updates to ICAEW’s CPD policy coming into force in November this year. Do check what your requirements are and familiarise yourself with the new regulations, there is an online tool to help you understand how you are affected and work out how much CPD you will need to fulfil each year.

Clare will be travelling to Wellington in October and Hobart in November and will be hosting member events and meetings with ICAEW members while in both. Helen in the global team at ICAEW will email members based there in August. If you have recently moved to Tasmania or New Zealand, remember to update your member profile so you don’t miss out.

Clare Bewsher

In February, Mark met members in Adelaide and I was in Christchurch. Would you like a member event in your area? If so, please contact me (you can find me in the LinkedIn group for ICAEW members in Australia here), or email Noah noah.pesci@icaew.com.

Mark Ellison

Have you tried to use ChatGPT yet? What does it, and other generative AI products, mean for your professional life, whether in practice or business? Head over to the ICAEW website, where you can find specialised help on this and thousands of other topics, in the pages which have now been made available free to members.

Mark Ellison

Clare and I are actively preparing our visits to members around Australasia for this year. The first will be in Adelaide on Wednesday 15 February, with others to Cairns, Darwin and Wellington in the planning stages. As members of the Institute Council, a key part of our role is understand our members' needs and preoccupations, and the best way to do this is in person. If you live in an area which doesn't have regular in person events, but would like an opportunity to network with fellow members and catch up with what's happening at the Institute – please do let us know.

Clare Bewsher

Are you getting event invitations? F2F events are restarting around Australasia, providing valuable networking opportunities. Can you help? Local member groups are always looking for new committee members to bring fresh ideas for events. Or you could join a London-based committee and help bring diversity and an international perspective. There are so many ways to give back and help shape ICAEW.

To learn more:

• Upcoming events
• Receiving event invitations/updating communication preferences
• Your Australasia community
• Boards & committees
• Job vacancies - London

Clare Bewsher

I'm delighted to share that enhanced membership has arrived. You now have access to the content of the Audit and Assurance Faculty, Financial Reporting Faculty, Tax Faculty, and all the ICAEW Communities, at no additional cost. This is part of a wider initiative to support members with their lifelong learning. To access the content you will need to be logged in to our website, and then the faculty content can be found via the Resources tab. Or, even better...

Join these faculties and communities without charge to receive communications and to access CPD tailored to your needs and interests. To join, go to the Communities tab on icaew.com and then pick ‘Join a Faculty’ or ‘Discover a Community’. It's a very simple process with no charge. I encourage you to make the most of your membership and explore all the expert content now available.

Your membership fee is due as usual on 1 January. If you are struggling, you can find out about reduced fees on our website and CABA can also help.

Mark Ellison

As travel becomes easier, Clare and I intend to start visiting local groups around Australasia in the new year. We are finalising the dates, and hope to see as many members as possible face to face in 2023. Members will be advised of the dates once confirmed.

Clare Bewsher

After extensive consultation, CPD changes are in the pipeline. Some members may not welcome this. Your Council members have encouraged ICAEW to make the new requirements as simple as possible for those based overseas and to ensure more relevant material is freely available to members so that no one will have to pay to meet the new CPD requirements. In addition, most of the communities and faculties will soon be included in your member subscription, creating added value for many. More on this soon.

Mark Ellison

You probably know that caba is the occupational charity helping the ICAEW community thrive, from everyday situations to exceptional life-changing circumstances. However, caba services are also available to children of ICAEW members, up to the age of 25. Whether they are looking for a job, feeling the stress post-lockdown, or just not sleeping enough, caba is there to help. They have already assisted dozens of ICAEW members and their families in Australia; to contact them go to www.caba.org.uk.

Clare Bewsher

June at ICAEW brings our AGM and fresh faces. The ICAEW AGM was your chance to vote on fee increases, hear a review of the year or quiz our CEO. We welcomed a new President, Julia Penny. In Australia, face to face member events have restarted. Come join our friendly and knowledgeable local networking groups. Find upcoming events at no cost to members here.

Mark Ellison

One of the roles of the Australasian representatives on Council is to take up issues of local members with the Institute – a bit like a Member of Parliament. I’ve already had a couple of members reach out to me, and although, like an MP, our powers are limited, we can get to the right people in the Institute to ensure that your voice is heard. So, whether it’s a complaint gone unanswered, or a difficulty in getting information, or anything else, do get in touch with us – you can find our contact details here.

Clare Bewsher

Have you paid your annual subscription? Did you think 'What do I get for this, living in Australia?' Did you know that your ICAEW membership gives you almost everything that a CA ANZ membership would, under the GAA passport?

Mark Ellison

Over the last few months, Clare and I have been reaching out to local ICAEW representatives throughout Australasia. We’ve received some fantastic feedback about what members are looking for, and how ICAEW can help you – look out for some news in the coming year.

Clare Bewsher

I am delighted to commit to another term on ICAEW Council, representing members in NSW and ACT.

Please get in touch if you haven't already, and ensure you share your unique perspective with newly qualified ACAs, as they join the global community of ICAEW members.

Mark Ellison

I am excited about beginning my term representing members in Australasia (outside of NSW & ACT), and look forward to connecting with members across the region.

Make sure you share your advice with new members as they're welcomed to the global community of ICAEW members.

• Find out more about ICAEW's council

Australasia also has a network of contact members, who are points of contact for members' enquiries on living and working in Australasia.

• Find out more