October 2019

Notes from the editor

It’s been a great year for us so far, but the Group of 100 (G100) continues to gather momentum as we enter the final stages of 2019.

After a successful Political Engagement Day last month, G100 continued its lobbying activity throughout October.

This month we are submitting a paper to the Parliamentary Joint Committee on Corporations and Financial Services, regarding the inquiry into the regulation of auditing in Australia.

The Networking event series continued strongly in October, and we also launched a new business breakfast event series hosted by G100 members. The breakfast events are part of the work done under the new “State Chapters” and are aimed to meet the needs of CFO’s and senior finance executives based in WA, SA and Queensland. More of that later in this Newsletter.

The month ahead will bring the next G100 Board Meeting and the Annual Dinner, as well as our Congress, CFO Live in partnership with the AFR, taking place in Sydney. November will also see more networking lunches and breakfasts as well as Advisory Council meetings. Pleased check the “Events” page on the website for the full list of events and details.

Those that missed the opportunity to participate in the G100 roundtable on Climate Risk and TCFD in September will have another chance to attend next month, in the planned second addition. This event will be organised similar to the first one, in a joint Sydney and Melbourne morning session, on 26 November.

For details on all these activities and much more, please read this edition of the Group Scoop.

Until next time,

Andreea Sfarlea
Communication Manager

 

From the desk of the CEO

It has been a busy few months for the G100:

  • We have ramped up our public policy work which has seen us meeting with Ministers and Shadow Ministers in Canberra (including the Treasurer and Shadow Treasurer) in July;
  • We have continued to meet with politicians and ASIC on the Parliamentary Joint Committee looking at Audit Regulation (to see the G100 submission click here);
    We have worked on ideas that could stop frivolous class actions being brought against listed companies over market disclosure (which we believe could lower the cost of D&O insurance);
  • We continued work on cross border harmonisation, tax reform and cutting red tape in addition to the work that the five working groups are doing; and
  • We boosted our media presence by the work we are doing with the AFR on the congress – CFO Live. This congress already has just under 200 tickets sold; we are expecting 250 people to attend. The event is packed with topics we have been working on for many years, and several will now be highlighted in the AFR as a result of the congress.

I am pleased to announce that we have successfully launched a Chapter of the G100 in South Australia. We have held two breakfast meetings in Adelaide already with more to come. We are finalising the details now for Chapters in Queensland and Western Australia; we have ‘convenors’ in place for all three.

The importance of these Chapters can’t be overstated. With so much work being done, and events being held in Sydney and Melbourne, it is not always easy for members outside those cities to get involved and take part in some activities. From this month, members in SA, WA and Qld will have access to all the national events as well as accessing events and public policy debate tailor-made for their state.

As we strive to add value for our members, we have been working with Wolters Kluwer/CCH to set up briefing sessions on critical issues throughout 2020. While some of these may be lunchtime events held in a venue in a city, most will be webcast only so members and their teams will be able to watch and take part. More details will be sent later this year.

While we continue to hold the highly successful G100/EY CFO First 100 Day program, the G100 has continued to receive enquiries about further education information for CFOs to ensure they stay current and understand the trends facing the industry. The G100 is working on a solution being led by former G100 President Tony Reeves, more details about this will be announced later this year.

Finally – thank you to all members who answered the Audit surveys being carried out by the FRC and the G100.

Regards

Stephen Woodhill
CEO Group of 100