Accountants updated on Recent Tax Amendments.

Transcription

1 Issue / Jan & Feb / 2017 CPA PNG News Accountants updated on Recent Tax Amendments. From right: CPA PNG consultant, UPNG Lecturer Suresh B. Nagarajan with recent workshop participants at Ela Beach Hotel. CERTIFIED PRACTISING ACCOUNTANTS PNG CPA Haus, Level 2 (Street Level), Armit Street, Paga Hill, Port Moresby, P O Box 1937, PORT MORESBY, National Capital District Papua New Guinea Tel: (675) / ; Fax: (675) cpapng@cpapng.org.pg Website:

2 From the President RICHARD KUNA Dear Members, Welcome to the first newsletter of We hope our members are geared for another exciting year. We have been so privileged to drive our activities with the undivided support we receive from our members and stakeholders. It is vital that we all work in partnership and we anticipate receiving your usual support this year. In this issue of your newsletter we bring you the updates of what has happened in the first two months and forthcoming events. The registration for enrolment into professional programs in the first semester of 2017 has been concluded and it was encouraging to see more members registering. In the next two months, Ric Willmot International Speaker, Author and Consultant will present two one day workshops in Moresby, Lae, and Kokopo in March and April This will be the first time these new topics are presented anywhere in the world. These training open the door to your management career with valuable and worthwhile executive education from CPA PNG and Ric Willmot. We look forward to your usual support in 2017 Richard Kuna President/ CPAPNG NEWS JAN / FEB / 2017

3 NEWS CPA PNG aims to enhance accountants From right: Presenter Suresh Nagarajan (second right) with participants The CPA PNG in partnership with consultant Suresh Nagarajan has delivered tax training to assist Accountants and update them on tax knowledge. The 171 participants from both public and private sectors attended training on Basic Taxation with recent amendments to personal and corporate tax in Port Moresby. CPA PNG through its continued professional development training programme (CPD) conducted the training in collaboration with Suresh Nagarajan. Many participants expressed appreciation for the workshop, especially on the different topics surrounding taxation and its recent amendments. CPA PNG Director Academic Kevin Kepore, said he was glad that Suresh was there to deliver two very important courses that would enhance the participants skills and knowledge on the recent tax amendments. A group of senior managers have completed a four-day training workshop in Lae. Executive Wisdom Consulting Group in partnership with CPA PNG has delivered executive management training to managers and senior managers last month. The five senior managers that attended the four-day training workshop conducted recently will be the agents of change in their organisation who will pass on this training to other officers. This was the second four-day MBA workshop in PNG. Some of the topics covered include strategy and strategic thinking, next-level relationship marketing, problem solving and decision making and change management. Similar workshop will be held in October this year. 2 CPAPNG NEWS JAN / FEB / 2017

4 NEWS in brief local Announcements Publications available on the website Jan/Fab Newsletter Ric Willmot Workshop Flyer Second issue of the Journal For enquiries about enrolment in the CPA Australia Program. The first step for you would be applying for membership assessment online: how-to-apply From left: Ric Willmot and Brendan having a chat during the 4day MBA workshop in Lae. Ric has developed two all-new Executive Learning Workshops for CPA PNG. He will present these workshops in Port Moresby, Lae and Kokopo in March and April This will be the first time these topics are presented anywhere in the world. The topics are Managers becoming Leaders and Human Resources from a CEO perspective These training open the door to your management career with valuable and worthwhile executive education from CPA PNG and Ric Willmot. The assessment will take up to 10 working days to complete. Once you get the assessment outcome, you will be directed clearly to the next step. The contact person is :- Chuck Zhang 章海贤 CPA Senior Adviser International Affairs & Representation Business Development CPA Australia Level 20, 28 Freshwater Place Southbank Victoria 3006 Australia T cpaaustralia.com.au KNOWLEDGE CHECKS: Multiple-Choice & Extended Response Questions and Solutions ADVANCED AUDIT AND ASSURANCE FINANCIAL REPORTING FINANCIAL RISK MANAGEMENT As part of membership service, we are pleased to inform our members that the four CPA Australia modules sample examination questions are available on our website for use. Website: knowledge-checks/ This will hopefully enhance pass rates for the subjects under examination. Dorcas Wai receiving certificate from Suresh Nagarajan. CPA PNG Director Finance & Admin Andrew Irabu in the middle assisting Suresh during presentation. 3 CPAPNG NEWS JAN / FEB / 2017

5 NEWS in brief world Emerging issues likely to impact accounting professionals in the coming years by Robert Half International Continuing demand for skilled professionals Because regulatory compliance requirements are ongoing and workloads continue growing, demand for top accounting professionals is likely to remain steady. The need for experienced personnel is expected to increase as companies begin preparing for the departure of baby-boom-age workers. A Robert Half International survey found that 78 percent of businesses are already taking steps to compensate for the loss of these employees, including enhancing their recruitment and retention programs. International Financial Reporting Standards (IFRS) The United States may face added pressure to conform to international standards as more companies around the world adopt IFRS. Pervasive technology Many of those now entering the workforce have enjoyed nonstop connectivity most of their lives, from campuses with wireless networks to personal digital assistants and web-based cellular phones. The challenge for these individuals now will be learning to balance the productivity advantages information technology offers with the potential pitfalls, such as over-relying on IT instead of face-toface communication to build relationships. Globalization With a greater number of companies conducting operations internationally and building workforces comprised of individuals from multiple countries, accountants will need to understand different cultures and business perspectives. Foreign companies listed on U.S. exchanges as well as U.S.- based businesses with multinational operations seek accountants who are familiar with international laws and regulations and can help their organizations adapt to new legislation. Fraud control As financial activities are more intensely scrutinized by shareholders and government agencies, the demand for skilled forensic accountants has increased. These professionals previously were brought in after a misdeed had been committed, but organizations now are hiring them to tighten procedures to prevent fraud before it occurs. PUBLIC PRACTICE CONFERENCE SYDNEY MAY / LORNE MAY / PERTH 9 JUNE As the world around us changes, discover how to create a sustainable firm from our leading experts. Gain the tools, knowledge and technological insights required to progress your practice your best demonstrate the value of your services. Be one of the first to secure your place at Public Practice Conferences for Book now cpaaustralia.com.au/ppc TIPS; Hand Washing Facts Hand washing is the act of cleaning your hands, usually for hygiene purposes. Hand washing has been recognized by science as one of the most important things we can do to reduce the spread of disease. Respiratory illnesses, such as influenza, the common cold or tuberculosis, along with bacterial contamination on food leading to food poisoning, are all examples of instances in which hand washing can significantly reduce the transmission of germs. A review of hand washing facts has suggested that, overall, there is some confusion about the proper way to wash our hands. It seems that many of us are unfortunately not doing it in the correct manner, i.e., for at least 20 seconds in warm soapy water, followed by drying with a paper towel, or by using an alcohol-based hand sanitizer. 3 CPAPNG NEWS JAN / FEB / 2017

6 NEWS Executive Development Training Programs By Best-Selling Business Author: Ric Willmot Author and Executive Mentor, Ric Willmot has developed two all-new Executive Learning Workshops for CPA PNG. He will present these workshops in Moresby, Lae, and Kokopo in March and April This will be the first time these topics are presented anywhere in the world. Your tuition will include refreshments, lunch, and workbook, along with amazing added bonuses for delegates. This is STRICTLY LIMITED so don t delay in registering for these workshops. MANAGERS BECOMING LEADERS New and Middle Managers Must Produce Increased Business Performance and Results Dates: Port Moresby 14 March; Lae 3 April; Kokopo 6 April Topic summary: O How Managers Become Leaders O Be a Better Leader - Be Better to Yourself O Leading the Team You Inherit O Get Your Team to Do What it Says Its Going to Do O The Hidden Traps in Decision Making O Make Time for Work That Matters O Saving Rookie Managers from Themselves O The Focused Leader O What Great Managers Do HUMAN RESOURCES FROM A CEO PERSPECTIVE Transforming HR Thinking from Resources to Capital Dates: Port Moresby 15 March; Lae 4 April; Kokopo 7 April Topic summary: O Human Resources or Human Capital? O What is the role of HR? O 21st Century Talent Spotting O How Management Teams Can Have a Good Fight O How Netflix Reinvented HR O Psychometric Psychobabble O Making Exit Interviews Count O Reinventing Performance Management O Why Organisations Don t Learn CPA PNG Executive Learning & Professional Development Open the door to your management career with valuable and worthwhile executive education from CPA PNG and Ric Willmot. To register, please call CPA PNG office on CPAPNG NEWS JAN / FEB / 2017

7 NEWS CPA PNG CONFERENCES 2017 REGISTER NOW Certified Practising Accountants Papua New Guinea Annual Conferences. o Kokopo Branch Conference 23rd June 2017 Kokopo, East New Britain Province o Lae Branch Conference 24th/25th August 2017 Lae, Morobe Province o CPA PNG & CPA Australia Joint Annual Conference 23rd/24th November 2017 Port Moresby, National Capital District, PNG o Structured CPD Hours 7 structured CPD hours per day for members For Further Information Please Contact: Roddie Pidik Soweni Phone: / Roddie@cpapng.org.pg Tel: (+675) / CPAPNG NEWS JAN / FEB / 2017