Annual Report 2011/2012 Professional Standards Councils
Tabled paper 112
Tabled Papers for 12th Assembly 2012 - 2016; Tabled Papers; ParliamentNT
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Professional Standards Council
33Professional Standards Councils Annual Report 201112 AUSTRALIAN CAPITAL TERRITORy SUmmARy DATA The Professional Standards Council of the Australian Capital Territory (ACT) approves schemes under the Civil Law (Wrongs) Act 2002 (ACT). Associations with schemes under this Act have a statutory obligation to submit an annual compliance report to the Council, covering implementation and monitoring of their risk management strategies, details of claims and insurance data, use of the Cover of Excellence trademark, and disclosure of limited liability. During 2011-12, there were 10 schemes in operation in the ACT, covering 10 occupational associations and seven occupational groups. Accountants CPA Australia (ACT) Institute of Chartered Accountants in Australia (ACT) barristers The NSW Bar Association operates under mutual recognition The South Australian Bar Association operates under mutual recognition The Victorian Bar Incorporated operates under mutual recognition Engineers Engineers Australia (ACT) Information technology professionals Australian Computer Society operates under mutual recognition Solicitors The Law Society of South Australia operates under mutual recognition Surveyors The Professional Surveyors Occupational Association operates under mutual recognition valuers Australian Property Institute Valuers Limited operates under mutual recognition There were no applications for new schemes in the ACT in 2011-12. Table 8: Cover of Excellence schemes in the ACT Association Scheme applies to: Number of members participating in scheme in ACT Limit of liability Start date for scheme End date for scheme Accountants CPA Australia (ACT) all members of CPA Australia ordinarily resident in the ACT who hold a current public practice certificate and who have not been exempted 92 $1 million to $75 million Reasonable charge of services x 10 1 February 2008 31 January 2013 Institute of Chartered Accountants in Australia (ACT) all members of ICAA ordinarily resident in the ACT who hold a current certificate of public practice and who have not been exempted 558 $1 million to $75 million Reasonable charge of services x 10 1 February 2008 31 January 2013 Engineers Engineers Australia (ACT) members of Engineers Australia who are also members of the Engineering Science and Technology Professional Standards Society 0 $1.5 million to $20 million 1 January 2009 31 December 2013 COMpLIANCe repOrTS by ASSOCIATIONS c o m p lia n c e r e p o r t in g