THE Institute of Public Accountants (IPA) is pleased to announce the signing of a mutual recognition agreement with the Institute of Certified Management Accountants of Sri Lanka (CMA Sri Lanka) commencing May 24, 2019.

CMA Sri Lanka is a full member body of the International Federation of Accountants (IFAC), the South Asian Federation of Accountants (SAFA) and the Confederation of Asian and Pacific Accountants (CAPA). 

“We will provide CMA Sri Lanka technical and educational resources to build their capacity and professional development,” IPA Group chief executive officer, Andrew Conway said.

“This agreement will also lead to the transfer of knowledge and sharing of experiences between both Institutes,” Mr Conway said.

IPA members who are interested in applying for CMA Sri Lanka membership can contact This email address is being protected from spambots. You need JavaScript enabled to view it. and refer to CMA Sri Lanka website at www.cma-srilanka.org for more information.

About the Institute of Public Accountants

The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies.  In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than 36,000 members and students in over 80 countries.  The IPA Group is the largest SME focused accountancy organisation in the world. The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants. 

publicaccountants.org.au

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TODAY, Monash University announces the future expansion of Monash University’s World Mosquito Program (WMP), a not-for-profit initiative that works to protect the global community from mosquito-borne diseases such as dengue, Zika, chikungunya and yellow fever, enabled by a transformational donation from the Gillespie Family Foundation.

Currently reaching three million people across 12 countries around the world, the generous donation will help the program to expand its operations to 16 of the top endemic countries for these diseases by 2023 , reduce the ability of mosquitoes to transmit harmful viruses through the WMP’s self-sustaining Wolbachia method, and ultimately help eliminate these mosquito-borne diseases.

Since 2014, the Gillespie Family Foundation has committed their time, passion and financial support to the WMP, which has contributed to eliminating the transmission of dengue in areas of Far North Queensland and the global scale-up of the program.  

WMP director at Monash University’s Institute of Vector-Borne Disease, Professor Scott O’Neill, said, “We are extremely pleased at the program’s success in halting dengue in release areas across Queensland’s Far North, and deeply grateful for the continued support and extraordinary generosity that has been provided by the Gillespie family to the WMP. It will enable the program’s further global expansion and research into natural methods to combat transmission of mosquito-borne diseases.”

The Gillespie Family joins other donors and supporters to the Program who together are enabling the protection of more and more people.

Co-founder of the foundation and one of Melbourne’s leading entrepreneurs and philanthropists, Roger Gillespie OAM, has also been appointed campaign council chair of the largest philanthropic fundraising campaign in Monash University's history, Change It. For Good.

Lesley Gillespie OAM is chair of the World Mosquito Program Philanthropy Advisory Council and Roger Gillespie is a member.

The Change It. For Good. campaign has achieved incredible results so far, reaching the halfway mark of each of its three goals, including $370 million raised towards the goal of $500m, over 26,000 of the 50,000 donor target and the confirmation of more than 100 new bequests.

Professor Margaret Gardner AO, president and vice-chancellor of Monash University, said Mr Gillespie would provide essential leadership in taking these impressive achievements to the next level.

“Roger has a deep understanding of the transformative power of philanthropy," Prof.Gardner said. "For many years, he has been a strong advocate for how we can collectively create positive change. I look forward to Roger’s leadership in driving Monash towards achieving our Campaign goals.”

Roger Gillespie is co-founder of Bakers Delight with his wife and Monash alumna, Lesley Gillespie. Roger and Lesley, along with their children Aaron and Elise and their spouses, Meghan Gillespie and David Christie, founded the Gillespie Family Foundation, which is committed to working for the good of the wider community, through philanthropy, action and advocacy.

www.monash.edu.au

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IT WILL BE Bunsen burners, beakers and bots to the fore at Alexandra Hills State High School today when the school hosts students from Holland Park and Kingston state high schools. 

The 60 students will be taking part in a workshop run by the Queensland Minerals and Energy Academy (QMEA), which will test their problem solving and encourage collaboration and complex design thinking. 

“These are the skills needed for the workforce of the future,” said Glencore Coal’s Anthony Exelby, Senior HR Coordinator. 

“Glencore Coal is a proud supporter of QMEA, which encourages students to continue with high-level science technology engineering and maths (STEM) subjects at school so that they enjoy a wider choice of careers in the future,” he said. 

“It’s critical for students to experience the practical application of their classroom studies, while learning about the range of exciting career opportunities that STEM-related subjects can lead to in mining,” said James Palmer, asset president of BHP Mitsubishi Alliance. 

"Our sector is at the pointy end of technology and innovation so it’s important for us to ensure that we have high-calibre people seeking careers with us.”

Alexandra Hills SHS principal Gail Armstrong said she was delighted to welcome the Holland Park and Kingston students to its school.  

“As the location for the QMEA/Alexandra Hills SHS Centre of Excellence in Automation and Robotics, we can offer students special opportunities to explore careers in the resources sector,” Ms Armstrong said. 

“Our students benefit from cutting-edge resources and unique learning opportunities made possible through this schools/industry partnership.” 

The QMEA is a partnership between the Queensland Resources Council and the Queensland Government under its Gateway to Industry Schools program. It has 60 schools throughout Queensland. 

www.qrc.org.au

www.qmea.org.au

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HILTON, the world's first global hotel company and one of the fastest growing in Asia Pacific, celebrates its milestone 100th anniversary on May 31, in the midst of the most dynamic year in the company's storied history.

To mark the occasion, hundreds of hotels around the world, including throughout Asia Pacific, are extending Hilton hospitality beyond their doors by taking 'Acts of Hospitality' to their communities -- everywhere from Sydney to Shanghai and Delhi to Tokyo.

As it looks ahead to its next century, Hilton also announced today the creation of the Hilton Effect Foundation, which will help create a better world to travel by investing in both organisations and people having a positive impact on the communities Hilton serves.

The Foundation is launching this week with 15 grants to organisations that will support 20 communities around the world. These initial grants will support programmes around the globe that are creating opportunities for youth, aiding in disaster recovery, and supporting water stewardship and sustainability.

The Foundation builds on the impact already driven by Hilton through its Travel with Purpose strategy, which seeks to double the company's investment in social impact while cutting Hilton's environmental footprint in half by 2030. Since the inception of Travel with Purpose in 2011, Hilton's team members have performed more than 1.3 million hours of volunteer service and the company has invested tens of millions of dollars in the communities it serves.

As Hilton's primary international philanthropic arm, the Foundation will channel all of the company's financial and in-kind resources to further amplify the Hilton Effect around the world.

Celebrating its 100th anniversary with hospitality and a global Foundation speaks to Hilton's founding vision.

"One hundred years ago, Conrad Hilton had a noble idea that travel can make the world a better place," said Chris Nassetta, president and CEO of Hilton. "That deep-rooted sense of purpose has fueled our transformative impact all across the globe, as we have welcomed 3 billion guests, employed 10 million team members and contributed US$1 trillion in economic impact. And in the years to come, we will do even more to positively change the world through our Hilton Effect Foundation."

Past and Present

Founded in 1919 in the tiny town of Cisco, Texas, Hilton has pioneered the travel industry for decades, introducing room service, air-conditioned lobbies, in-room televisions, airport hotels, the mini-bar, the computerized reservation system, and Connected Room -- the first hotel room allowing guests to unlock their doors and control their lights, thermostat and TV with a smartphone app. Hilton properties even invented the brownie and the pina colada.

Hilton now offers 17 distinctive brands across 113 countries and territories, with more than 5,700 properties and continues to grow with a new hotel opening somewhere in the world every day.

Hilton first entered Asia Pacific in 1963, with the opening of Hilton Tokyo, and recently opened its 300th trading hotel, having grown fivefold in the last decade alone.

Looking Ahead

With one of the industry's fastest-growing pipelines, Hilton plans to expand to more than 20 additional countries by 2020, with more than 2,300 hotels in Hilton's construction pipeline. In Asia Pacific, the company has more than 500 hotels under development across nine different brands and nearly one in every four hotels under construction in the region carries a Hilton flag.

The company's legacy of driving innovations that change the hospitality industry will also continue in 2019 and beyond with the ongoing expansion of the first mobile-centric Connected Room.

As Hilton continues to grow, the communities in which it operates are integral to the guest experience, from team members to local suppliers. Asia itself is home to 60 percent of the world's youth and in recognition that many underprivileged youth may not have the right opportunities, the Hilton Effect Foundation will provide five grants to youth development projects across the region. This includes partnerships with the China Foundation for Poverty Alleviation and the Sichuan Tourism University; the Smith Family in Australia; Playground of Hope in Japan; Magic Bus in India; and the Youth Career Initiative in Vietnam.

The launch of the Hilton Effect Foundation continues Hilton's commitment to Travel With Purpose. Hilton is the first major hotel chain to institute science-based targets for carbon reduction as part of its ambitious 2030 goals, which are aligned with the United Nations' Sustainable Development Goals. Hilton also partners with several soap recycling partners across Asia Pacific, and has sent nearly 10 million bars of soap to communities in need all over the globe as part of its commitment to send zero soap to landfill. These efforts and more led to Hilton being named to the 2018 Fortune 'Change the World' list.

In addition to the Foundation, the hospitality giant has also launched a grassroots service initiative called 'Acts of Hospitality'. Team members throughout Hilton locations around the world are conducting meaningful, simple gestures for others that extend Hilton's hospitality beyond the doors of its hotels and into local communities.

Some of these gestures include; providing fresh bottled water to transport workers in China; creating memorable weekend experiences for families in need in Australia; providing refreshments to volunteer fire response teams in India; building new playgrounds in Japan; plus delivering treats to street cleaners in Indonesia and police volunteers in Malaysia.

Alan Watts, area president, Asia Pacific at Hilton, said, "Our Team Members have been delivering the light and warmth of hospitality in Asia Pacific for more than half a century, displaying that same pioneering spirit that saw the company born a century ago. As we celebrate this remarkable milestone, it's inspiring to see the positive impact we continue to have and the opportunity to shape the next 100 years of travel in the world's fastest growing hospitality market."

From the beginning, the source of Hilton's innovation, purpose and growth has been its team members and leadership. Hilton has been recognized for its exceptional workplace culture and is the first hospitality company in history to achieve the number one ranking on Asia's best multinational workplace, recognized by Great Place to Work.

"Our first century of hospitality has been tremendously meaningful, but I truly believe that now is our time," global CEO Mr Nassetta said. "Hilton is as strong as it has ever been, and our potential to positively change the world grows with each hotel we open and every guest we serve.

"Our 100th year of hospitality is an opportunity to reflect on how far we've come and put a stake in the ground for our future. Conrad Hilton charted an ambitious course for Hilton in 1919, and I think he'd be proud of what we've accomplished so far. In my view, the world's a better place because Hilton was born 100 years ago, and if we do our job right, the world will be a better place because Hilton's in it for the next 100 years."

www.hilton.com

 

About Hilton

Hilton (NYSE: HLT) is a global hospitality company with a portfolio of 17 world-class brands comprising more than 5,700 properties with more than 923,000 rooms, in 113 countries and territories. Dedicated to fulfilling its mission to be the world's most hospitable company, Hilton earned a spot on the 2018 world's best workplaces list, and has welcomed more than 3 billion guests in its 100-year history. Through the award-winning guest loyalty program Hilton Honors, more than 89 million members who book directly with Hilton can earn Points for hotel stays and experiences money can't buy, plus enjoy instant benefits, including digital check-in with room selection, Digital Key, and Connected Room. Connect with Hilton on Facebook, TwitterLinkedInInstagram and YouTube

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APPROVALS for new detached houses across Australia have sagged to their lowest level since June 2013, according to  Master Builders Australia chief economist Shane Garrett. 

“Building approvals in April 2019 indicate that the number of approvals for all categories of new dwelling fell by 4.7 percent during the month," Mr Garrett said. "New detached house approvals dropped by 2.9 percent while the volume of approvals for apartments/units saw a 7.2 percent fall. Total approvals are now down by 24.2 percent over the past year.

“Since the beginning of the new home building downturn in late 2017, the bulk of the pain has been concentrated in the high density segment of the market,” Mr Garrett said. 

“With today’s figures now showing detached house approvals at a six-year low, it is ominous that the weakness in new home building is spreading to those parts of the market which are traditionally more resilient during downturns.

“Obviously, these figures relate to the month immediately prior to the federal election and the political uncertainty which was then at play has contributed to the weaker results for April,” Mr Garrett said. 

“Now that there has been a clear conclusion to the federal election, a real opportunity exists to push home building activity back in the right direction. 

“Many significant infrastructure projects have been announced by government over the past year. Speedily converting these announcements into real, visible activity on the ground would provide a major boost to the building industry, the wider economy and confidence more generally,” he said. 

During April 2019, the number of approvals for new home rose in Queensland (+11.3%), followed by the ACT (+7.7%) and New South Wales (4.8%). 

The largest drop in new dwelling approvals affected Tasmania (-19.1%) followed by Victoria (-16.1%). There were also falls in new home approvals in Western Australia (-6.7%), South Australia (-3.3%) and the Northern Territory (-2.0%).   

www.masterbuilders.com.au

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THE Australian Small Business and Family Enterprise Ombudsman, Kate Carnell has thanked Andrew Leigh for his commitment to the small business sector while serving as part of Labor’s frontbench economic team.

“Andrew Leigh’s departure from the shadow assistant treasurer role is disappointing,” Ms Carnell said.

“He and his office worked tirelessly to ensure their policy positions were supportive of small businesses, particularly in relation to competition reform and access to justice.

“As shadow minister for competition, he worked to give small businesses greater market powers and championed innovative initiatives including:

  • a proposal to ban ‘price parity clauses’ to give Australian hotels more control over their own business
  • a plan to give small business advocacy groups the power to make ‘supercomplaints’ and fast-track investigations by the Australian Competition and Consumer Commission into key small business concerns 
  • attempts to protect small businesses by making unfair contract terms illegal.

“Andrew has made a valuable contribution towards levelling the playing field for small businesses – particularly those involved in disputes with big business or government. We thank him for his dedication to the sector.”

www.asbfeo.org.au

 

THE Australian Small Business and Family Enterprise Ombudsman, Kate Carnell acknowledges the Fair Work Commission’s decision to lift the national minimum wage by 3 percent to $19.49 per hour and backs the independent process that lead to today’s announcement.

“The Fair Work Commission has acted independently with a panel of experts assessing all relevant viewpoints and information available to them," Ms Carnell said.

"The decision handed down by Commission president Iain Ross was in response to key economic indicators including low inflation and a fall in GDP growth.

“It’s critical that this decision-making process remains independent and is kept out of the hands of politicians or those with a vested interest.

“The decision to pay Australia’s 2.2 million award dependent workers an extra $21.60 per week from July 1 fell well short of the $43 per week the Australian Council of Trade Unions lobbied for but was also more than the 2 percent business groups wanted.

“Australia already has one of the highest minimum wages in the world. The increase awarded exceeds inflation and that will impact small businesses, many of which are doing it tough right now.

“But it’s important to respect the independent role of the Fair Work Commission.”

www.asbfeo.org.au

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THE Queensland Resources Council has welcomed the Palaszczuk Government’s offer to freeze the rates of royalties on coal and minerals for three years. 

The LNP has already promised to freeze royalty rates until October 2024.

The QRC will now ask its member companies to consider the Government’s offer along with their request for the resources industry to contribute $70 million to a Regional Infrastructure Fund over three years. 

QRC chief executive Ian Macfarlane said increasing royalties would be increasing taxes and an attack on the resources sector that supports one in eight jobs in Queensland – the equivalent of 315,000 full-time jobs.

“The Palaszczuk Government is already on track to receive more than $5 billion in resource royalties this financial year – a record and almost $1 billion more than they expected from their current budget," Mr Macfarlane said.

“Any increase in royalty taxes is a disincentive for investment in regional areas and would mean lost job opportunities for all Queenslanders.

“The industry will respond to the government on its proposal as soon as possible.”

www.qrc.org.au

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THE Institute of Public Accountants (IPA) has commended the Federal Government’s announcement to review the retirement income system.

“We were very pleased to hear that the Treasurer, the Hon Josh Frydenberg MP announce that he will commission the review which will include the interfaces of superannuation, government pensions and taxation,” IPA chief executive officer, Andrew Conway said.

“The review is long overdue. The importance of trying to define what a retirement living standard the system should aim for is not well defined.

“There is also the budgetary considerations of funding the age pension and superannuation tax concessions and ensuring that the system is sustainable going forward.

“The need to encourage greater investment in superannuation to facilitate self-funded retirement is critical as Australia will not be able to fund government pensions in the future, especially considering our ageing population.

“Different mechanisms need to be considered given the longevity risk when superannuation members retire.  This includes the development of annuity type products.

“However, there is significant complexity in the system with many competing interests, which must all be given due weight if we are to develop an equitable retirement income system.

“For instance, we cannot ignore the findings of the Productivity Commission report which suggested reforms to benefit members through lower fees and higher investment returns could generate an extra $533,000 for a new job entrant today when they eventually retire.

“An essential element of this review will be to provide access to affordable financial advice, which is what public accountants, as trusted advisers, can deliver,” Mr Conway said.

www.publicaccountants.org.au

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QUEENSLAND is strengthening its position as the most reliable supplier of gas on the East Coast after the Palaszczuk Government awarded more than 2700 square kilometres of energy rich land for exploration.

Queensland Resources Council (QRC) chief executive Ian Macfarlane said the economics of supply and demand were simple.

“If demand for gas is strong you need to increase supply to put downward pressure on prices,” Mr Macfarlane said.

“I applaud the Palaszczuk Government and the Resources Minister Dr Anthony Lynham for their continued support of the State’s gas industry. This is an investment into regional Queensland, where all levels of governments and farmers support the gas industry, resulting in massive economic benefits for farmers and rural and regional communities."

Brisbane-based Senex Energy was awarded 153sqkm near Miles under the domestic-only supply mechanism, while a Santos/Shell joint venture, Galilee Energy and Sajawin won the right to explore for gas across more than 2600sqkm between Miles and the border town of Inglewood. 

Mr Macfarlane said Queensland’s neighbours must take a leaf out of our book. New South Wales and Victoria can’t expect Queensland to continue to supply, and subsidise, their own gas users.

“It’s time for both sides of politics to consider rewarding States that do develop their resources, at the expense of those who don’t,” he said.

www.qrc.org.au

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THE Australian Small Business and Family Enterprise Ombudsman, Kate Carnell has welcomed the return of Senator Michaelia Cash to Cabinet as Minister for Employment, Skills, Small and Family Business.

“Senator Cash’s return as small and family business minister demonstrates the importance of this sector in Australia, getting on with the important work that’s already begun since the Minister’s initial appointment,” Ms Carnell said.

“Small business has been crying out for certainty, and now they want to see the federal government follow-through on its promises to small business and get the job done.

“Minister Cash ‘gets’ small and family business and has already shown true commitment to the sector.

“There are a number small business issues we are particularly keen on working through with Senator Cash.

“Small businesses have told us their major concerns are tax cuts, energy prices, cash flow, finding the right people with the right skills to employ and simplifying industrial relations so they can more easily employ," Ms Carnell said.

“Access to affordable capital is fundamental to the growth of small to medium enterprises (SMEs), so the delivery of the Australian Business Securitisation Fund and the Australian Business Growth Fund is essential.

“The delivery of the government’s payment times policy is crucial to small businesses, as is the continued downward pressure on power prices.

“It’s encouraging to see ‘skills’ included the Minister’s new title. Investing in change to address the needs of rural and regional small businesses in particular will create productive communities," Ms Carnell said.

“And we will continue to work with the government to deliver greater access to justice for SMEs.

“We welcome the opportunity of working with Attorney-General and Minister for Industrial Relations on the simplification of Australia’s workplace relations.

“We have identified a number of simple steps to tackle the overly complex industrial relations system for small businesses that would make a real difference to the sector," she said.

“We look forward to working closely with Senator Cash and her team to continue better outcomes for the engine room of our economy."

www.asbfeo.gov.au

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