Message From The Chair – 17 June 2021

Message From The Chair – June 2021

17 June 2021

Dear Members,

I send a communication to members after each Board meeting, however I wanted to draw your attention to several events that are almost upon us:

Political Engagement Day – 23 June from 8.30am AEST

Now in its fourth year the Political Engagement Day promises to be one of the best we have held.  We have 32 people attending the sessions during the day with politicians and 41 coming to the dinner.  The politicians who will be addressing us include:

  • Senator the Hon Jane Hume – Minister for Superannuation, Financial Services and the Digital Economy; and Minister for Women’s Economic Security;
  • Mr Tim Wilson MP – Chair of the House of Representatives Standing Committee on Economics;
  • The Hon Tony Smith MP – Speaker of the House of Representatives.
  • The Hon Michael Sukkar MP – Assistant Treasurer; Minister for Housing; Minister for Homelessness, Social and Community Housing;
  • The Hon Paul Fletcher MP – Minister for Communications, Urban Infrastructure, Cities and the Arts;
  • Dr Jim Chalmers MP – Shadow Treasurer;
  • Mr Stephen Jones MP – Shadow Assistant Treasurer; and the Shadow Minister for Financial Services and Superannuation;
  • Senator Andrew Bragg – Chair of the Senate Select Committee on Australia as a Technology and Financial Centre;
  • Mr Jason Falinski MP – Chair of the House of Representatives Standing Committee on Tax and Revenue;
  • The Hon Michael McCormack MP – Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development; and
  • Senator the Hon Simon Birmingham, Minister for Finance – the Senator is Guest of Honour and the Guest Speaker for the dinner.

Webinar – Introducing the VRF: Completing the System to Assess, Manage and Communicate Value – 24 June 8.30am-10.00am AEST

This webinar is the next in our series of G100 Virtual Roundtables on Corporate Reporting and ESG.
This one is being put on by the G100’s Sustainability Working Group in association with the Business Reporting Leaders Forum (BRLF).

The Value Reporting Foundation (VRF) is the result of the recent merger of the International Integrated Reporting Council (IIRC) and the Sustainability Accounting Standards Board (SASB).

Janine Guillot, CEO of the VRF (formerly CEO of SASB), and Michael Bray, Director of Global Accounting Relationships for the VRF, will discuss how the VRF can help business and investors develop a shared understanding of value and how it is created, preserved, or eroded.  Please respond by Friday, 18 June to Karen Goulet on Karen.Goulet@au.ey.com or phone 03 9288 8908.  The link for the webinar will be sent out on RSVP.

CFO Women unplugged – 23 July

The first Diversity & Inclusion webinar will be held on Friday 23 July from 1.30pm – 3.00pm (AEST).  This will be a panel session featuring three prominent CFOs – Janelle Hopkins (CFO REA Group), Tania Archibald (CFO BlueScope Steel) and Leah Weckert (CFO Coles Group).  They will share insights from a ‘female CFO perspective’ as the finance sector focusses on this area.  Today there are just 19 women who are CFOs in the ASX200.

ASIC recent announcements and Reporting Webinar – 2 July

I am pleased to say that we are holding our annual reporting workshop with ASIC on 2 July from 12.00pm-1.30pm.  The workshop will allow us the opportunity to hear what ASIC is focussing on this reporting season as well as giving us the opportunity to ask questions.  It will be held online; an invitation will be sent next week.

ASIC has released the following documents which I would draw to your attention – financial reporting focus areas for directors, preparers and auditors for 30 June 2021;  an updated version of the ASIC COVID-19 FAQs and their review of the 2020 financial reports, click on links below for further information:

Media Release 21-129MR ASIC highlights focus areas for 30 June 2021 financial reports under COVID-19 conditions.

COVID-19 Implications for financial reporting and audit: Frequently Asked Questions (FAQs).

21-135MR ASIC review of 31 December 2020 financial reports.

Inquiry into Treasury Laws Amendment (2021 Measures No.1) Bill 2021

As I mentioned in my last communique, on 18 February 2021 the Senate referred the Treasury Laws Amendment (2021 Measures No.1) Bill 2021 to the Senate Economics Legislation Committee for inquiry and report by 12 March 2021.

The G100 was invited to make a submission to the inquiry and then invited to appear before the Senate Committee to discuss the submission last week.  As Victoria was coming out of lockdown, the Senate Committee decided to hold the hearing online.  The G100 was represented by Andrew Porter and Stephen Woodhill.  After making opening remarks, the G100 answered questions from two Senators.  We now await the final report.

PwC Technology Workshop – 9 July

PwC is launching an inaugural national school holiday technology workshop for the children of their clients and staff.  As PwC is leading the ‘Future of the Profession’ working group and hosting the current webinar series on the future of work, they have opened this opportunity to G100 members.

Working with a leading third-party technology provider to start the children’s journey to become confident, independent programmers and problem solvers, PwC is offering eight places for the children of members to join this program in both Sydney and Melbourne during the school holidays.  For further information, please see the email from the CEO sent recently and control click to follow link.

June Board Meeting – 23 June

June Board meeting will be held in Canberra on 23 June.  The Board will meet in Parliament House while other members attending the Political Engagement Day are in Question Time.

Again, I thank you for your ongoing support.  Should you have any questions or issues you believe we should pursue, please contact our CEO Stephen Woodhill at swoodhill@group100.com.au or on +61 413 318 455

 

Janelle Hopkins
Chair
Group of 100 Inc
CFO REA Group Limited