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
44 Professional Standards Councils Annual Report 2011-12 A u S tR A li A n C A P it A l te R R it o R y | n e w S o u th w A le S | n o R th e R n t e R R it o R y | Q u e e n S lA n d | S o u th A u S tR A li A | t A S m A n iA | V iC to R iA | w e S te R n A u S tR A li A The Professional Standards Council of the Northern Territory (NT) approves schemes under the Professional Standards Act (NT). 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 six schemes in operation in the NT, covering six occupational associations and five occupational groups. Accountants CPA Australia (NT) Institute of Chartered Accountants in Australia (NT) barristers The NSW Bar Association operates under mutual recognition The Victorian Bar Incorporated operates under mutual recognition Engineers Engineers Australia (NT) Information technology professionals Australian Computer Society 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 proposed new schemes for the NT in the application stage during 2011-12. Table 10: Cover of Excellence schemes in the NT Association Scheme applies to: Number of members participating in scheme in NT Limit of liability Start date for scheme End date for scheme Accountants CPA Australia (NT) all members of CPA Australia ordinarily resident in NT who hold a current public practice certificate and who are not exempt 28 $1 million to $75 million Reasonable charge of services x 10 26 May 2008 25 May 2013 Institute of Chartered Accountants in Australia (NT) all members of ICAA ordinarily resident in NT who hold a current certificate of public practice and who are not exempt 124 $1 million to $75 million Reasonable charge of services x 10 7 January 2008 6 January 2013 Engineers Engineers Australia (NT) 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 NORThERN TERRITORy SUmmARy DATA
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