THE House of Representatives Standing Committee on Economics will hold a public hearing with the Governor of the Reserve Bank of Australia (RBA), in Melbourne from 9.30am to 12:30pm on Friday, 11 August 2017.

Since the previous hearing with the RBA in February 2017, monetary policy has remained accommodative with a cash rate of 1.50 percent.

In his August statement, the Governor noted the recent appreciation of the Australian dollar and said it is expected to ‘contribute to subdued price pressures in the economy.’ He remarked that ‘an appreciating exchange rate would be expected to result in a slower pick-up in economic activity and inflation than currently forecast.’

The Governor also noted that business conditions have improved, stating that ‘some pick-up in non-mining business investment is expected.’ The RBA forecasts that current high levels of residential construction will be maintained for some time, before slowly easing.

The Chair of the House Economics Committee Mr David Coleman MP said ‘the Committee will examine these issues in more detail and will question the RBA on whether current monetary policy settings are adequate for encouraging growth and inflation consistent with future targets.’

Public hearing details: 9:30am - 12:30pm, Friday 11 August, Melbourne Town Hall, Yarra Room,Corner of Collins and Swanston Streets, Melbourne

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

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

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THE Select Committee on Regional Development and Decentralisation will convene a roundtable in Canberra today to kick off its inquiry. 

The Chair of the Committee, Dr John McVeigh MP said, “the Committee is bringing together a panel of experts to learn more about best practice in regional development, and how best to support sustainable rural and regional towns.  This is an exciting opportunity to hear from leading experts and practitioners in the field, which will help the Committee to identify some key issues for closer examination throughout the inquiry.” Dr McVeigh said. 

The panel will include the following people:

• Mr Jack Archer: CEO Regional Australia Institute;
• Professor Andrew Beer: University of South Australia, Chair Regional Studies Association;
• Professor John Cole OAM: Executive Director of the Institute for Resilient Regions at the University of Southern Queensland;
• Ms Anne Dunn: Director, Every Voice Inc;
• Professor Fiona Haslam McKenzie: Co-Director/Senior Principal Research Fellow, Centre for Regional Development, University of Western Australia; and
• Professor Tony Sorensen: University of New England

The roundtable is open to the public. Details of the roundtable proceedings, and a transcript of the discussion will be available on the Committee’s website.

Roundtable details:

Monday 7 August 2017, 11.00 am to 12.30 pm, Committee Room 2R1, Parliament House, Canberra.

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

Select Committee on Regional Development and Decentralisation

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

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THE House of Representatives Standing Committee on Communications and the Arts will conduct a public hearing in Canberra this week to hear from well-known actor Roy Billing.

The Chair of the committee, Mr Luke Howarth MP, stated that ‘Roy Billing is a household name in Australia, appearing in films like Rabbit Proof Fence and the Dish, and television shows like Underbelly, House Husbands and Blue Heelers.’

‘The Committee looks forward to hearing from this veteran of our screen industry and discussing some of the issues facing actors in Australia today’, added Mr Howarth.

Public hearing details:

Wednesday 9 August 2017, 12:45 pm to 1.30 pm, Committee Room 1R6, Parliament House, Canberra.

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

 www.aph.gov.au/FilmTV

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

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THE Institute of Public Accountants (IPA) has welcomed the public notification by the Professional Standards Councils (PSC) that its national scheme has been approved. IPA members who hold a professional practice certificate will be covered by a Professional Standards Scheme which is now being implemented nationally.

“We are very pleased that the PSC have endorsed an extension of our existing scheme in New South Wales to the rest of Australia via mutual recognition,” said IPA chief executive officer, Andrew Conway.

“We are going through a formal process including the statutory consultation period and liaising with all States and Territories to implement the relevant legislative instruments. These are technical processes and no issues are anticipated. It is akin to a Bill passing through Parliament but awaiting Royal assent.

“The IPA supports the principle guiding professional standards legislation.  The very existence of the PSC Schemes provides clarity and certainty to professionals and importantly the public that the professional they are engaging is appropriately covered. This is why we have been working constructively with the PSC to implement a national Scheme.

“Our scheme is very straightforward. All IPA members in practice must maintain a minimum professional indemnity insurance cover of $1m.

“It is important to note that the Scheme reflects the professional standing of the IPA membership which we respect. Ultimately members of the public trust public accountants; our members need to live up to those expectations.

“We will continue to work with the PSC and the State and Territory governments to have the Scheme enshrined in law as soon as possible.

“Members of CPA Australia wishing to retain protection of a limited liability scheme should consider applying for an IPA Professional Practice Certificate now and they will become automatically covered when it becomes law very soon,” said Mr Conway.

publicaccountants.org.au

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