Facing turbulent times again, CPA Australia wields the axe to jobs
Professional accounting body CPA Australia is cutting 10% of its headcount in a morale sapping redundancy program. But, six years on from a major leadership scandal, its problems don't end there.
Barely six years after the debacle of multiple investigations, the removal of a CEO and the departure of more than half its board, CPA Australia is again facing turbulent times.
The professional accounting body has been posting increasing losses over the last three years according to its integrated reports and expects another loss in the coming financial year, largely attributable to a new technology platform.
Meanwhile, a strategic review of CPA Australia by consultants Bevington Group will see more than 10% of staff made redundant although the redundancy campaign, which staff had expected to be completed by mid 2023, looks likely to continue into 2024.
Adding a further layer of uncertainty, CPA Australia’s president is leaving (after serving the maximum two terms) and its turnaround CEO, Andrew Hunter, (who succeeded the body’s controversial former head, “Naked CEO” Alex Malley), will head off next year.
