On Wednesday, 5 June, CA ANZ released the results of its 2019 member vote, where five resolutions were passed after a total of 11,182 members voted, 10.84 per cent of its total CA ANZ membership eligible to vote.
The resolutions sought to strengthen the professional conduct by-laws, provide the establishment of overseas regional councils, provide increased continuity in board appointments by CA ANZ Council, increase flexibility and inclusion of representation and strengthen the NZICA Rules.
Voting for the changes opened on 29 April and closed on 27 May.
Royal assent from the Australian Governor-General is now required for the Supplemental Royal Charter and By-Laws, and once this has been received, the changes will come into effect immediately. The NZICA Rules are effective immediately and will be tabled with the New Zealand Parliament.
Accountants Daily understands that the professional association is now working on developing a detailed implementation plan which will be released to members shortly.
The results come after a number of senior CA ANZ members raised concerns over the resolution to increase continuity in board appointments by CA ANZ council, which sought to increase the maximum term a director can serve on the board from two terms to three terms, effectively allowing them to stay on for a total of nine years.
The seven CA ANZ fellows claim it risks exposing the professional association to the governance issues that hampered rival body CPA Australia.
The particular resolution, which required a simple majority to pass, received the largest opposition, with 26.86 per cent of members voting against it.
Jotham Lian is the news editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.
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