On the 7th of October 2017, the current CPA Australia Professional Standards Scheme, which operates in all mainland jurisdictions, will expire.
At that time all CPA Australia Public Practice Certificate members, nationally, will lose the protection of that Professional Standards Scheme.
A new scheme was not made in time for CPA Australia public practitioner members to avoid a lapse in their Professional Standards Scheme’s continuity, and at this point it is uncertain when a replacement scheme will be in force. As an estimate, it typically takes a minimum of 6 months from publication approval of a scheme to progress through statutory approvals and receive final establishment.
The Professional Standards Councils are concerned for the CPA Australia public practitioner members and their clients. They have directed the Professional Standards Authority (the Authority) to continue to work with CPA Australia to minimise the effect and the duration of the lapse in coverage. We understand CPA Australia is working through the resolution of a range of matters with their members and remain hopeful that a new professional standards scheme can be established in a timely fashion.
What this means for members?
On the 8th of October all CPA Australia public practitioner members will need to cease to use any letterhead or business documents that carry the statutory disclosure statement (or risk potential breaches of Australian Consumer Law); and that, amongst other things, they advise their insurers of changed circumstances regarding limitation of liability and potentially be forced to purchase new insurance policies.
Any public practitioner member of CPA Australia or member of the public with questions should first contact CPA Australia Ltd.
CPA Australia’s contact details are:
Phone: 1300 73 73 73
The Councils and the Authority are committed to protect consumers of the services provided by professional and others.
If you are unclear on who to contact or would like to contact the Councils or the Authority, please fill out the enquiry form.