CPA Australia has left its struggling financial advice business out of its 2018-21 corporate strategy, pending a review of the dealer group’s viability.
ifa sister title Accountants Daily has reported that the association’s draft corporate strategy, released to members this week, promises a focus on the reputation of the CPA brand, the quality of CPA members and advocacy initiatives.
It makes no mention however of the CPA Australia Advice subsidiary.
“The draft corporate strategy covers the operations of the parent company, CPA Australia,” a spokesperson for the association told Accountants Daily. “The strategy for CPA Australia Advice will be informed by the findings of the review that is currently underway.”
CPA Advice has had difficulty from its launch in 2015 to attract members, falling hundreds short of its business projections and suffering a trading loss.
Housing a dealer group under the CPA Australia brand has also posed severe regulatory conflicts for the association, as indicated by former auditor-general Ian McPhee in his review of the association's governance and leadership functions.
A separate review of the CPA Australia Advice business is ongoing.
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