THE Institute of Public Accountants (IPA) as part of the global accounting profession is supporting the United Nation’s International Anti-Corruption activities which included a special awareness day on December 9.

The World Economic Forum estimates that every year the cost of corruption is at least US$2.6 trillion -- or 5 percent of global domestic product. According to the World Bank, businesses and individuals pay more than US$1 trillion in bribes each year.

“Corruption not only erodes trust, it has a direct detrimental impact on economic growth,” said IPA chief executive officer, Andrew Conway.

“Accountants play a pivotal role in this united fight against corruption.

“As a profession, we hold the responsibility to promote greater transparency and accountability, employ stronger ethics and lift the standard of integrity,” said Mr Conway.

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. 

www.publicaccountants.org.au

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COAL has propelled the value of Queensland’s exports to almost $80 billion, up almost 10 percent from October last year. 

Queensland Resources Council chief executive Ian Macfarlane said the latest ABS figures showed coal recorded the highest increase in value during October, for the 23rd month in a row. 

“For the last two years, coal exports have been the anchor for Queensland’s strong export performance,” Mr Macfarlane said. 

“Of Queensland’s total export value of $79.3 billion in October, our coal exports were worth $34.9 billion, and other minerals $8.1 billion. 

“The ongoing strength of the resources sector is testament to the hard work and world-class standards of the 316,000 Queenslanders who work in or with the sector. 

“Every tonne of coal and other resources exported brings in royalty taxes that benefit all Queenslanders. 

“Based on this strong performance we expect an even greater return to Queenslanders from coal royalty taxes, above and beyond the $3.5 billion forecast for this year’s budget. 

“We look forward to seeing the updated figures before Christmas," Mr Macfarlane said.

“Queensland’s resources industry is capping off a positive year, during which we’ve seen new investments and new jobs. 

“Over the past year the resources industry has added about 10,000 jobs for Queensland, or a job every 40 minutes. 

“We are looking forward to a strong start to the new year too, with new projects including the Adani Carmichael mine, and new exploration in the North-West of the state. 

“Figures released by the Queensland Exploration Council earlier this week showed an increase in exploration investment across the range of our state’s commodities. 

“This puts all Queenslanders in prime position to continue to benefit from investment, jobs and returns from royalty taxes that build our state.” 

www.qrc.org.au

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THE House Standing Committee on Agriculture and Water Resources has launched a new inquiry into the impact on the agricultural sector of vegetation and land management policies, regulations and restrictions, and called for submissions.

The Committee’s Chair, Rick Wilson MP, acknowledged that the impact of land management and vegetation policies can be significant on the agricultural sector.

“Bushfires, expanding land use, and hazard management can dictate the future of regional, rural and remote land areas," Mr Wilson said. "The Committee’s inquiry into these issues is timely, given the current and impending natural disaster probability”.

The Committee will be inquiring into these impacts, with particular regard to:

• Past and current practices of land and vegetation management by the agricultural sector and regional industries;
• The science behind activities such as back burning, clearing and rehabilitation;
• The economic impact of vegetation and land management policies, regulations and restrictions;
• The impact of severe fires on the agricultural landscape, agricultural production and industry in regional, rural and remote areas;
• Factors that contribute to fire risk in regional, rural and remote areas; and
• The role the agricultural sector has in working with emergency services and forestry management officials in managing fire risk.

The Committee will be accepting submissions until Friday January 25, 2019.

THE House of Representatives Standing Committee on Health, Aged Care and Sport Committee today presented to Parliament its Advisory Report on the Aged Care Amendment (Staffing Ratio Disclosure) Bill 2018.

The Committee recommended the passage of the Bill, which would require aged care providers to report staff-to-patient ratios for their facilities on a quarterly basis.

The Committee Chair, Trent Zimmerman MP, stated that ‘aged care has been a particular focus of the Committee’s work during 2018. In October, the Committee released the final report for its inquiry into aged care and followed that up with this inquiry.’

"The Committee has recommended the passage of the Bill and welcomes the increased transparency for consumers that will be provided by the publication of staffing ratios. The Committee has also recommended that staffing ratios be published with additional contextual information to assist consumers interpret the data and enable them to be in a better position to make an informed choice," Mr Zimmerman said.

The Report is available at the Committee’s website at: https://www.aph.gov.au/Parliamentary_Business/Committees/House/Health_Aged_Care_and_Sport/StaffingRatioBill/Report

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