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 [...]

AUDITORS TO THE SLAUGHTER In his 2018 article “The Silence of the Auditors”, Professor Janek Ratnatunga, CEO of the Institute of Certified Management Accountants (ICMA), called for a Royal Commission into the regulation, independence, politics, production and knowledge base of auditors. He stated that while banks were marched like lambs to the slaughter, to sheepishly [...]

Now that the Politics is over, ICMA CEO, Prof Janek Ratnatunga calls for urgent action on Climate Change Until the recent Australian Federal Election results were announced, in which the ruling Coalition government had a miraculous victory, Professor Janek Ratnatunga, CEO of the Institute of Certified Management Accountants (ICMA), says that the ideology of climate [...]

It’s for profit and market share, stupid.Cost-benefit analyses that compare quality-cost relationships, profits, and market share with the risks of failure may be at the heart of decisions to prematurely launch products that are known to be faulty, according to Professor Janek Ratnatunga, CEO of the Institute of Certified Management Accountants (ICMA). Professor Ratnatunga believes [...]

Professor Janek Ratnatunga, CEO of the Institute of Certified Management Accountants (ICMA), has commented that whilst the recently released interim report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry highlighted many practices of “greed” in the pursuit of short-term profit - the biggest fraudulent or dishonest act or practice of how banks calculate mortgage interest appears [...]

ICMA CEO calls for the auditing of strategies to control bad corporate behaviour In the wake of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, Professor Janek Ratnatunga, CEO of the Institute of Certified Management Accountants (ICMA), has criticised current corporate audit controls as being inadequate to reign in bad [...]