The crisis sweeping world financial markets is affecting every aspect of business across the globe.
The accounting profession must play a critical role if governments and the corporate world are to successfully deal with the fallout and map a way forward.
Information to help keep members informed of developments is available on the website.
Members can also exchange their views, experiences and particular areas of expertise relating to the global financial crisis and related issues as they arise.
CPA Australia president Alex Malley interviewed live on Bloomberg TV in Hong Kong on 24 October about the issues around fair value accounting and the importance of leadership during the global financial crisis.
Wiki
International financial markets crisis wiki With developments in the current global financial markets crisis occurring daily, CPA Australia has launched a wiki for members to exchange knowledge, information and commentary.
Members are invited to read and contribute to this resource wherever they are.
Speech
Business leadership amid global economic downturn Strong leadership is needed to promote good corporate governance and pull the global financial and economic system back from the brink, says CPA Australia president Alex Malley.
Uniform accounting rules must ensure quality reporting The decision by the International Accounting Standards Board to change the fair value requirements of financial instruments must ensure quality financial reporting CPA Australia has warned.
Australia must target emerging markets during global crisis The increasing global financial volatility means it is more important than ever for Australia to develop international markets for its professional services, according to CPA Australia.
Interest rate cut welcome in current climate The Reserve Bank of Australia's decision to cut the official interest rate by one per cent is a crucial measure to help business and homeowners in the current economic climate, according to CPA Australia.
Small business heading for a cash crunch Many Australian small businesses are headed for a cash crisis in the wake of the global credit crunch, a CPA Australia survey has shown.
Library
To read the following articles, access the ProQuest link from the member-only locked ProQuest (publications search), then enter the article's title in the ProQuest search field.
Fitch Ratings: Distressed financial institutions impact synthetic corporate CDO ratings and outlooks The current global financial crisis has led to a rapid deterioration of highly rated financial institutions globally with several credit events being called, which has in turn affected a large proportion of investment grade synthetic CDOs rated by Fitch Ratings.
Watson Wyatt Worldwide: Financial crisis recasts debate on pensions versus 401ks Broadly speaking, the predictable, mainly guaranteed income of pensions (including so-called hybrid plans like cash balance plans) contrasts sharply with the day-to-day fluctuation of 401ks account values, which are wreaking havoc on planned retirements.
Fortune: GE under siege In September 2008, General Electric (GE) had arranged to raise $15 billion on a few days' notice. In other words, GE needed a sudden, huge, and utterly unexpected emergency infusion of cash.
Fortune (Asian edition): Letters, 27 October 2008 Letters to the editor about the global financial crisis.
Newsweek: The libertarians' lament This wasn't just a collective failure. Three officials, more than any others, have been responsible for preventing effective regulatory action for a period of years: Alan Greenspan, the oracular former Fed chairman; Phil Gramm, the heartless former chairman of the Senate Banking Committee; and Christopher Cox, the unapologetic chairman of the Securities and Exchange Commission. Blame Greenspan for making the case that the exploding trade in derivatives was a benign way of hedging against risk.
Herald Sun: BHP warns on China The news came as Rio Tinto shares surged in late afternoon trading, when a spate of wild rumours about BHP's $114 billion target swept the market.
Russian Press Center: Oligarchs short on cash amid financial crisis Prokhorov's financial predicament follows a spate of bad investments in recent months, including spending $500 million for a 50 per cent stake in the failing Russian investment bank Renaissance Capital, and bankrolling Snob, a media startup.
Weber Shandwick: Company leaders not communicating with employees on financial crisis, according to new national research from Weber Shandwick By stepping up and communicating more with their employees, company leaders will enhance their company's standing, consolidate their position of trust in challenging times and head off any inaccurate rumors or fears that are all too common in fast-moving crises such as these, added Diamond.
Time: New world disorder This is the future world of what we call 'globality', a world of hypercompetition in which Americans, and Swiss and Japanese, compete with everyone from everywhere for everything. And not just for customers and market share: they'll compete for energy and raw materials, skilled and unskilled workers, knowledge, patents, financing, suppliers, partners, even potential acquirers.
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