MESSAGE FROM THE PRESIDENT 

Targeting professional development to member needs

Dear Member, 

These days I come across quite a few small to medium business enterprises. (SME’s).  After 25 years working in large, publicly listed corporations, I’ve noticed many differences between the two types of organisations (the number of additional zeros in the financials being one!). Yet there are also many similarities.

At the start of this year I talked about the increasingly volatile business outlook driven by an uncertain geopolitical landscape, exacerbated by the impacts of fast moving technology.

The outlook and impacts are non-discriminatory. They affect businesses of all shapes and sizes. And the common theme for coping is preparation and planning.  This could be a fit-for-purpose framework for accessing risk, running scenarios to determine impacts on cash and liquidity or installing new technology to provide more valuable insights into the business. They are all valuable.

As treasury and finance professionals, our skills are extremely valuable to big and small businesses alike. I’ve often heard people describe our profession as being somewhat of a jack of all trades. You know what I mean? “Oh, to be in our game you need to be a bit of a bush lawyer, a bush tax manager etc.”

So how do we keep our skills and insights fresh and relevant in an increasingly changing world? That’s where the FTA comes in. Having spent much of our time investing in infrastructure that can capture the specific needs of our members, our investment focus going forward is orientated to delivering to your needs.

And this includes your learning and development needs.

So, expect more targeted learning modules and keep an eye on the website for updates to the FTA professional development program.

Code of Conduct

At a board sub committee meeting we recently reviewed the FTA’s code of conduct. This review reminded me of the importance for professions to not only adopt a code of conduct, but to embrace the code and identify with it.

According to Wikipedia, a code of conduct is “a set of rules outlining the social norms and rules and responsibilities of, or proper practices for, an individual, party or organisation.”

A code of ethics is necessary because it allows individuals to know what’s expected of them as acceptable behaviour. If there are no standards in place, it can be very difficult to hold members responsible for behaviour that negatively impacts the profession.

The FTA requires that all members commit to the following:

  • Members shall exemplify the skills of the profession and act at all times with integrity, care and diligence
  • Members shall seek to maintain and improve their professional knowledge, skills and competence
  • Members shall observe legislation and regulation that govern their respective activities, as well as the spirit of the law and contemporary market practice
  • Members shall consider the effect of their actions on all relevant stakeholders and declare to those parties any conflict of interest
  • Members shall exercise a duty of care such that their activities are capable of close public scrutiny

Do the above statements resonate with you?  Perhaps you have a different perspective?  As always, please feel free to email me, (mike@ftasecretariat.com.au) or our CEO, Peter Chapman, with any feedback.

A night on the town

It was a wet and dreary Thursday night last week but a decent number of hardy NSW chapter members braved the wind and the rain to congregate at Lime Street. For those that ventured out, thank you, it was great to see you. These State Chapter-initiated events will be held once a quarter and are a great way to network with your fellow professionals and meet new people in our community.

Essential Treasurer

As we go to press, Essential Treasurer has kicked off and is coming to a state near you soon! This short, sweet half day offering has been carefully designed to give you some practical insights from our local senior members.  Remember, it’s complementary if you’re an FTA member.  Non-members are welcome and can also pay for a package that includes the event as well as membership to the end of December this year.

Regards,

Mike Christensen FFTP
FTA President