| Media
Release: First grants awarded under Star Initiative Program30
May 2003
The Professional
Standards Council (PSC) will spend over $35,000 on two new projects to
improve professional standards and care for consumers.
Under the PSC's first ever Star Initiative grants program, the Institute
of Chartered Accountants in Australia (ICAA), and the Institute of Consulting
Valuers (ICV) will receive $24 000 and $11 000, respectively.
The Star Initiative grants program was launched in October 2002. Two grant
projects were selected from several applications by associations for projects
to improve standards, reduce risk and protect consumers.
The ICAA's project will see the development of standards for accountants
to use when completing financial statements for medium and small entities.
Incredibly, no such standards exist. Accountants have always adapted standards
for large entities which are sometimes irrelevant and often difficult
to translate to the small or medium enterprise client.
The ICV's project will establish guidance notes for valuers to use as
part of their negotiations with clients. They will clarify the roles and
responsibilities of both parties, provide advice about complaints and
discipline options and highlight the standard of care required. This project
further supports the ICV's Code of Ethics and Practice and demonstrates
their commitment to consumer protection.
Mr Warwick Wilkinson, AM, PSC Chairman said, "The Star Initiative
is a unique program designed to promote self-regulation and the pursuit
of professional excellence amongst industry associations. To be successful,
these applicants had to demonstrate that their project would benefit consumers.
The outcomes of these programs will benefit consumers in their dealings
with providers of professional and other services."
Mr Wilkinson added, "This is just another example of the Professional
Standards Council working actively for consumers. The program is currently
available in NSW. Given the government's recent support for a national
system of professional standards legislation, we hope to be able to expand
the grants program in the near future."
The second Star Initiative grants program will be launched in May this
year. Only associations and their members who are covered by a Professional
Standards Scheme are eligible to apply for a grant.
For further information:
Media Contact: Bernie Marden (Secretary, Professional Standards Council)
02) 9228 8060 |
