Professor Janek Ratnatunga, CEO of the Institute of Certified Management Accountants, makes the case for independent cost audits in an article titled “The Case for Statutory Cost Audits: Qantas’ Dubious ‘Middle Seat’ Costings”.He says that the federal government’s A$60B forecasting error in its JobKeeper subsidy, followed by Centrelink’s ‘Robo-Debt’ income averaging error requiring repayments of between $720m to $1.5 [...]

Professor Janek Ratnatunga, CEO of the Institute of Certified Management Accountants (ICMA), makes the case in an article titled “Funding Manufacturing Post COVID-19: A National Security Issue" that the $60b JobKeeper ‘windfall’ due to the a self-reporting error by 1000’s of Australian businesses will be best used to boost local manufacturing capabilities of essential items [...]

Prime Ministers’ Jacinda Arden Australia and Scott Morrison continue to top the Global Response to Infectious Diseases (GRID) index; which ranks a country’s leadership response to the COVID-19 pandemic. The USA, led by President Donald Trump fares abysmally and is placed last in the rankings.The results are published in a paper titled GRIDTM Index 2: Ostrich Leadership and Ostrich [...]

Australia, and its Prime Minister Scott Morrison has been rated highly in the Global Response to Infectious Diseases (GRID) index. The other leader who does exceptionally well is New Zealand’s Jacinta Arden. The USA, led by President Donald Trump in its COVID-19 responses fares abysmally in the rankings.The results are published in a paper titled GRIDTM Index: [...]

Professor Janek Ratnatunga, CEO of the Institute of Certified Management Accountants (ICMA), explains in a paper published on April 8 titled “Pandemic Financing – Stealing Billions From Future Generations” that governments borrow money to finance crises by selling government ‘bonds’; which are ‘promises’ to repay borrowed money, plus interest to those who buy them, in the [...]

Professor Janek Ratnatunga, CEO of the Institute of Certified Management Accountants (ICMA), stated in a paper published on March 31 titled “The Financial Modelling Wars: COVID -19 vs. The Economy”, that trying to model economic impacts of this global pandemic, based on the experience gained from past virus outbreaks, is fruitless; given the significant errors in the [...]

The Institute of Certified Management Accountants, Australia (CMA Australia) is offering free membership to university students to help encourage more accounting and finance students into the management accounting profession. Currently very few university students opt to go into management accounting. CMA Australia hopes that the new membership offer will provide a broader base of students [...]

The Institute of Certified Management Accountants (ICMA) celebrated the induction of three outstanding champions into its Global Accounting and Management Accounting Hall of Fame at an awards dinner held at the RACV City Club Melbourne on 20 November 2019. Professor Brendan O’Connell, President of ICMA Australia and host of the awards dinner, said, “While selection to the [...]

Professor Janek Ratnatunga, CEO of the Institute of Certified Management Accountants (ICMA), advises finance professionals to pay close attention to the Australian Government’s draft Religious Discrimination Bill, in particular what is being called the ‘Folau Clause’.The ‘Folau Clause’ relates to the case of Mr Israel Folau, whose comments on his private social media account led to [...]