THE House of Representatives Environment and Energy Committee will hear from Energy Networks Australia on Thursday at a public hearing for the inquiry into modernising Australia’s electricity grid.

The Chair of the Committee, Andrew Broad MP, said the Committee was looking forward to hearing about the changing role of transmission and distribution networks in the grid.

“The Committee is keen to hear how network businesses are adapting to the transition underway in the electricity system, and whether further changes are required to ensure that the system can deliver secure, affordable, and sustainable electricity into the future,” Mr Broad said.

The Deputy Chair of the Committee, Mr Pat Conroy MP, said the Committee would also be interested in hearing about the potential for transmission and distribution networks to reduce costs for consumers.

“The Committee is aware that network costs make up about half of the average electricity bill. The hearing is an opportunity for the Committee to discuss how a modern grid can achieve better outcomes for households and businesses,” Mr Conroy said.

As part of the inquiry, the Committee is encouraging members of the community to share their views on the electricity system via an online questionnaire.

Further information about the inquiry, including a submission from Energy Networks Australia, is available on the inquiry website, at www.aph.gov.au/moderngrid.

Public hearing details: 10:00 am – 10:45 am, Thursday 1 June 2017, Parliament House, Canberra

The hearing will be broadcast live at aph.gov.au/live

Interested members of the public may wish to track the committee via the website.

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FORMER Whole Foods Market Co-CEO Walter Robb leads a discussion in Sydney next week, on how conscious capitalism creates thriving businesses, and flourishing communities.

Mr Robb led with this philosophy, as he helped the retail grocer to unprecedented growth - rising from 12 stores to 464, across three countries.

The principle of conscious capitalism is about instilling your business with a purpose, and thinking beyond your organisation and making decisions based on the community, employees and all stakeholders.

Walter Robb will headline Day Two of Business Forum 2017, which is being run by Chartered Accountants Australia and New Zealand. 

“I think purpose is the ultimate why question. Both for an individual and a company, it gets to the heart of why you’re even here,” said Mr Robb.

The forum is looking at the business case for Purpose Beyond Profit and will be a gathering of leaders in innovation, disruption and change.

Jeana Abbott, CA ANZ’s Head of Education, said, “just like technology, business is evolving and the sole purpose of an organisation needs to be about more than just profit.

“In this changing environment, many businesses struggle to survive if they don’t connect with their communities.

“This forum is bringing together leaders from around the world to discuss how you make that connection happen.

“It’s about coming up with a model which serves your business, your community, employees, and investors.”

The conversation will also be led by Brazil-based President of Semco, Ricardo Semler, who’s become famous for restructuring relationships with staff, to empower employees and drive performance.

Organisational development consultant and author, Zach Mercurio, will explain why it’s important to clarify, develop and instill a purpose within your business.

Simon Griffiths, social entrepreneur and founder of Who Gives A Crap, will detail the ten lessons learnt from purpose-driven product implementation.

Hundreds are expected to attend the two-day forum which will be held in Sydney on June 5 and 6, and in Auckland on June 8 and 9.

For more information on the full list of speakers, and package prices, visit charteredaccountantsanz.com/businessforum. Join the conversation #businessforum17.

Chartered Accountants Australia and New Zealand represents 119,000 financial professionals.

Visit charteredaccountantsanz.com/businessforum.

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THE Turnbull  Government has today released terms of reference for a review into Australian  and children's screen content.

THE Institute of Public Accountants (IPA) has voiced its support for the small business ombudsman’s warning to the big four banks in relation to their responsibilities under unfair contracts legislation.

“While the IPA was pleased with the passing of unfair contract legislation which has been in place since November last year, much work is required to enforce current practices which still see unfair clauses in contracts with small business,” said IPA chief executive officer, Andrew Conway.

“Our advice to any small business, that is uncertain or feels that a contract that they are entering contains unfair terms, is see your public accountant.

“Similarly, we are urging our members to speak to their small business clients and businesses to review all contracts, including those with banks and other lending institutions,” said Mr Conway.

Contracts can relate to the supply or hire of goods, services or financial products.  Examples of contract terms that may be found to be unfair include terms that allow one party at their discretion to change the fees being paid or to change terms and conditions without telling the other party; terms that allow one party to terminate the contract but not the other party; or terms that penalise one party for breaching or terminating the agreement but not the other party. 

“Quite often in these scenarios, one party has greater bargaining power than the other, and it is a case of ‘take it or leave it’, whether you are dealing with a bank or your local gym,” said Mr Conway

publicaccountants.org.au

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