❓ Question regarding compliance with Treasurer's Instruction 824 concerning the professional qualifications of Chief Finance Officers (CFOs) in WA government agencies, revealing that not all CFOs meet the required standards and seeking details on exemptions granted.
AnsweredQoN 3279Legislative Council
QuestionView source ↗
I refer to the WA Auditor General Audit Results Report Annual 2009-10 Assurance Audits Report 10 Nov 2010, and in particular to page 28 in relation to Chief Finance Officers’ (CFOs) Professional Status. Given that the CFOs that were appointed prior to 1 September 2006 were allowed three years (until September 2009) to meet Treasurer’s Instruction 824 in relations to being suitably qualified, and I ask -
(1) What is the reason that only 81 percent of Agency CFOs are suitably qualified?
(2) Will the Treasurer advise the names of the 23 Agencies, that had the Treasurer’s approval to an exemption from the requirement in Treasurer’s Instruction 824, that all newly appointed Chief Finance Officers (CFOs) of all Departments and statutory authorities be suitably qualified?
(3) Will the Treasurer provide the reasons for each of the exemptions in the 23 Agencies?
(4) If no to (3), why not?
(1) What is the reason that only 81 percent of Agency CFOs are suitably qualified?
(2) Will the Treasurer advise the names of the 23 Agencies, that had the Treasurer’s approval to an exemption from the requirement in Treasurer’s Instruction 824, that all newly appointed Chief Finance Officers (CFOs) of all Departments and statutory authorities be suitably qualified?
(3) Will the Treasurer provide the reasons for each of the exemptions in the 23 Agencies?
(4) If no to (3), why not?
AnswerView source ↗
Answered
15 March 2011
Responded by
Minister for Finance representing the Treasurer
Response time
28 days
(1) Treasurer's Instruction TI 824 requires all substantive CFOs to be suitably qualified. This requires that CFOs hold a specified membership status within CPA Australia or the Institute of Chartered Accountants or the National Institute of Accountants. Continuous compliance with this requirement has proved difficult for a number of small agencies, particularly where the agency is located in a regional or remote area of the State. Recruitment and retention of suitably qualified staff is a problem for such agencies. Consequently, 11 temporary exemptions are in place at this time. The exemptions have generally been granted to provide additional time for the current CFO to fulfil the membership requirements or to allow the agency additional time to recruit a qualified person.
12 permanent exemptions have been granted to small agencies that have experienced difficulty in complying with TI 824. The basis for approval of these exemptions has been the:
· small size of the agency in financial terms;
· suitable experience of the current CFO; and/or
· suitable external support being provided to the current CFO.
(2)-(3) Please refer to [Tabled Paper No
]
(4) Not applicable.
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12 permanent exemptions have been granted to small agencies that have experienced difficulty in complying with TI 824. The basis for approval of these exemptions has been the:
· small size of the agency in financial terms;
· suitable experience of the current CFO; and/or
· suitable external support being provided to the current CFO.
(2)-(3) Please refer to [Tabled Paper No
]
(4) Not applicable.
Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on
http://www.rtlib.com
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