IN-THE-BLACK

“PEOPLE MAY HAVE SYSTEMS IN PLACE, BUT HAVE NEVER TESTED IF THEY WORK…RAISING

AWARENESS OF HOW OFTEN THINGS WILL HAPPEN AND HOW THEY WILL RESPOND IS SOME-

THING THAT NEEDS TO BE MORE THAN DIALOGUE” ADAM HOLLINGWORTH CPA, ARA INSTITUTE OF CANTERBURY

As a result of corona virus pan-

demic, CPAPNG is transitioning

from in-person CPD to virtual

CPD training.

As we face the disruption to the

flow of our core business caused

by COVID-19, we are also learn-

ing how we can turn them into

opportunities. Transitioning to

online or virtual services is a pri-

ority for many organisations. CPA

PNG is steadily transitioning to-

wards online and digitalization of

its core business including CPD

training and supplying Electronic

modules for Foundations of Ac-

counting, Introduction to Business

Law, Introduction to Taxation

Law and PNG Taxation Law.

- Read more on page 2

June/July, 2020 Edition

CPA PNG delivers virtual CPD training

President’s Message

P. 2

Membership

P. 3

CPD

P. 4

Examination

P. 5

Conferences

P. 6

Office Space for Rent

P. 8

Inside this issue

DIGITAL TRANSFORMATION IMPERATIVE

FOR BUSINESS

President’s Message Richard L. Kuna

T he COVID-19 pan-

demic has spread with

alarming speed, in-

fecting millions and

bringing economic activity to a

near-standstill as countries im-

posed tight restrictions on move-

ment to halt the spread of the

virus.

As the health and human toll

grows, the economic damage is

already evident and repre-

sents the largest economic

shock the world has experi-

enced in decades.

The coronavirus outbreak

has already brought consid-

erable human suffering and

major economic disruption.

We need to act swiftly and

forcefully to overcome the

coronavirus and its eco-

nomic impact.

International Data Cor-

poration conducted a recent sur-

vey in China and canvassed the

opinions of 32 CEOs in 10 indus-

tries regarding the impact of the

new coronavirus on corporate

business, the value of IT and digi-

tal transformation in the fight

against the outbreak, and new dig-

ital transformation measures after

the pandemic. Here’s what they

found:

The top 3 negative impacts of

COVID-19 on enterprises are: (1)

Inability to visit customers (2)

Significant decline in sales perfor-

mance and (3) Inability to resume

production. And the top 3 positive

impacts on enterprises are: (1) Im-

proved corporate ability of long-

distance collaborative work (2)

Wide recognition of the value of

digital transformation and infor-

mation technology among all em-

ployees (3) Gaining ability of

online marketing and business de-

velopment.

“The value of digital channels,

products and operations is imme-

diately obvious to companies eve-

rywhere right now,” says Sandy

Shen, senior director ana-

lyst, Gartner. “This is a wake-up

call for organizations that have

placed too much focus on daily

operational needs at the expense

of investing in digital business and

long-term resilience. Businesses

that can shift technology capacity

and investments to digital plat-

forms will mitigate the impact of

the outbreak and keep their com-

panies running smoothly now, and

over the long term.

John Chambers from Cisco Sys-

tem said, “At least 40% of all

businesses will die in the next 10

years… if they don’t figure out

how to change their entire compa-

ny to accommodate new technolo-

gies.”

It is imperative for every in-

dustry, from oil and gas to agricul-

ture to chemicals and materials to

undergo digital transformation.

Whether it be keeping up with a

changing market or optimizing

internal operations, tracking, and

implementing the right emerging

technology for the organization is

no small feat.

Research conducted by Gart-

ner (2019), concluded that digitali-

zation is high priority for

both private and public sec-

tor organizations.

In line with global digi-

talization trend, CPA PNG

Council has invested in dig-

italization of CPA PNG

core functions including

MRM system, having its

own Internet Payment Gate-

way for e-commerce. An-

other significant milestone

achievement was the suc-

cessful delivery of the first ever

virtual CPD training by Deloitte

on August 6 at Crown Hotel. A

total of 62 attended, out of which

32 attendees dialed in virtually

from various locations including

Queensland, New Zealand, Port

Moresby, Motukea, Lae, Kokopo,

Kimbe, Madang and Goroka.

Feedback received from attendees

was very positive. CPA PNG is

keen to go virtual with upcoming

CPD and conferences to step pace

with members expectations.

We encourage members to em-

brace the change from in-person

service to online and other remote

modes of service delivery. This

transitioning is inevitable.

“The coronavirus outbreak has

already brought considerable

human suffering and major

economic disruption. We need

to act swiftly and forcefully to

overcome the coronavirus and

its economic impact.”

Membership

YEARS OF ADMISSON

TOTAL %

1970S 8 0.1%

1980S 100 1.3%

1990S 357 4.8%

2000-2005 616 8.3%

2006-2010 1,038 14.0%

2011-2015 1,703 22.9%

2016-2020 3,616 48.6%

TOTAL 7,438 100%

CPA PNG Membership as of 31st July 2020 stands at 7,434

UP-COMING CPD TRAININGS

“MYOB Training” 21-25 September,Crown Hotel – Port Moresby

“Effective Meetings” 17 September, Crown Hotel, Port Moresby

“Bank Reconciliation, Accounting for Non-Accountants and Fundamentals of Accounting” CPD Training, 24-28 August, Kokopo

“Creative Marketing Post COVID:

How to Improve Profits. Promo-tion.

Productivity, September 10

July has been a busy month

for CPA PNG to organize a

total of five CPD trainings

from four .

The following CPD trainings

were conducted in different

locations:

Kokopo, “MYOB” Train-

ing facilitated by

Timothy Vatnabar

from 06 -10 July.

Port Moresby (Crown

Hotel), “Goods and

Services Tax” facili-

tated by Michael Col-

lins from PwC on 14th

July

Lae, “Goods and Services

Tax” by Stephen

Beach on 16th July

Port Moresby (CPA

Haus),

“Preparation

and

Presentation of

Financial and

Bank

Reconciliation

Statement”

by Dr. Suresh

Babu

Nagarajan,

30th July

Port Moresby

(CPA Haus),

“Financial Statement

Analysis for Decision

Making” by Dr.

Suresh Babu Nagara-

jan, 31st July

For further information and registration, please contact:

John Varey on 321 2015 or email: mcpd@cpapng.org.pg

CONTINUED PROFESSIONAL DEVELOPMENT

CPA PNG CPD training continued amidst COVID - 19 lockdown

EXAMINATION

A total of 920 examinees regis-tered and sat for the first semes-ter examination from Monday 15th to Friday 19th June 2020. The exam was conducted in ten

different locations, covering 15

different subjects. The various

examination venues include: Port Moresby, Lae, Kokopo, Mt Hagen, Goroka, Madang, Popon-

detta, Kavieng, Lihir (Simberi Gold) and OTML.

For more information on examina-

tion, Contact Mexcyline Auru on

Telephone: 321 2105 or

320 1891

Email: fdassistant@cpapng.org.pg

Cancelled!

Due to adverse financial impact of

COVID-19 & SoE protocol, CPA

PNG Council CANCELLED the Lae

and Port Moresby conference

EXAMINATION NOTICE

CPA PNG 2020 JOURNAL

CPA PNG has the pleasure of informing you that we will be publishing our annual journal in December

2020, this will be a magazine sized publication, that will be distributed to over 7,000 registered account-

ing professionals, business executives, CEO’s, company directors, subscribers, managers, opinion lead-

ers, influencers in the business and public sector.

This year’s journal will be different. We are giving it back to our very own loyal stakeholders and part-

ners, we would love to hear your voice, see your products and services as much as possible.

If you are looking at expending your client base and getting sales and building business networks, rela-

tionships, raising your service and product hallmarks to prospecting clients, CPA PNG recommends, you

to get the message across to the people on top one step ahead of your competition.

This is an opportunity not to be missed, if you are interested in advertising your services or products this

year to your targeted audiences.

For Advertising Contact: Email: mcpd@cpapng.org.pg / cpapng@cpapng.org.pg Tel: 321 2105/ 320

1891

CPA PNG OFFICE SPACE FOR RENT

Contact: Talie Andrew Irabu onTel: 3212105 or 75206675 Email: cpapng@cpapng.org.pg

Great View from Office

Window

Have you attained a DIPLOMA or DEGREE

in Accounting or Busi-ness related disci-

pline?

Email: margaret@cpapng.org.pg

or rmembership@cpapng.o

rg.pg

Share a story We welcome articles and inspirational stories from members of CPA PNG.

Advertising Enquire to advertise your products. Your advertisement will go directly to more than 7,400 plus members.

CALL US NOW FOR ADVERTISING John Varey

Telephone : 3212015 Mobile: 75615214 Email : mcpd@cpapng.org.pg

CONTACT US NOW!

2019 SPONSORS

The Conference committee met and re-

viewed past five years of conference

events and level of sponsorship. The

committee noted increasingly significant

and high-quality benefits from confer-

ence events which contribute to nation

building. It further noted the achieve-

ments that strengthen CPA brand which

sponsors gain maximum benefits

through partnership with CPA PNG.

Some of these benefits are noted below: 1. The value of CPA PNG brand has

increased markedly over the years

from Associate member to Full Mem-

ber of International Federation of

Accountants (IFAC). International

partnership and collaboration in-

clude, MoU and partnership with

Confederation of Asian & Pacific

Accountants, and Institute of Char-

tered Accountants of India.

2. High profile international and

national presenters do add great val-

ue when presenting as subject matter

experts on a wide range of subjects.

3. Attendance record over 1,200 each

time. The 2019 conference, had the

prime minister & IFAC president

presented twice during the 2 days

conference. That was historic.

4. CPA PNG membership growth has

steadily increased to over 7,000 from

3,600 in 2014, attracting graduates

and driving membership growth fur-

ther.

Based on the above points, the commit-

tee carefully revised the tiered sponsor-

ship package. The new sponsorship

model:

Platinum - K100,000

Gold - K50,000

Silver - K30,000.

Other Sponsors < K30,000

For more information on the sponsorship, including Booth Hire during conferences please contact:

John Varey on 3212015 or email: mcpd@cpapng.org.pg