Woman heading accountancy changes

By TOM CLARKE

THE Institute of Chartered Accountants is being headed by a woman for the first time in its 100-year history.

She is Sue Sheldon, of Christchurch, a partner in Bayliss Sheldon, chartered accountants and business advisers.

Ms Sheldon is taking over at a time when major changes are looming for the profession. A task force has recently completed a review of the strategic direction of the institute and has made a number of major recommendations.

The first of these is the establishment of specialist chapters within the institute, intended to give recognition to the different skills that now have to be provided in an increasingly diverse market, and the changing business demands placed on institute members.

The second recommendation is the creation of a new college within the institute which is likely to be known as the College of Chartered Business Professionals, to meet the multi-disciplinary demands of the market place.

Ms Sheldon says these changes recognise the need for the institute's members to have greater relevance to business by being able to offer a wider diversity of services.

"If you look at the areas in which members of the institute work, they're quite far-reaching," she says. "Typically over their career paths, they use their accounting background as a springboard to other areas of business. As well, we have demand from people from other professions to be included within this professional body.

"These are radical changes, but we need to look at allowing a membership category for people who are not accountants essentially, but who are nonetheless working in business alongside our members. In the long term, we're really looking at people who are advising business having a broad range of skills and services available under one roof in a one-stop-shop idea."

Corporates often seek broad advice spanning areas such as accounting, law, and human resources, she says. The proposed changes will give institute members the opportunity of working in these areas concurrently.

The institute will be making submissions to the Government over the proposed reform of the Employment Contracts Act and the re-nationalising of workers' compensation insurance.

Ms Sheldon says the institute has a focus on advocacy with government in a number of areas. It works alongside the Ministry of Commerce and the Treasury, with special focus in the areas of tax and small-business legislation.

"We work very actively with government so that we can have some influence on behalf of our members in those areas in which their business is being held back by legislation, or where legislation is not assisting the flow of business," she says.

Ms Sheldon was born in Nelson and educated in Christchurch, graduating from Canterbury University. That was followed by several years working with major accounting firms in Christchurch before she joined her present firm.

She holds several directorships, including Meridian Energy Ltd, Woolfill Corporation Ltd, Nimbus Bedware, and Woolknop Holdings Ltd. She is chairman of Crown Forestry Management Ltd.