Implementing a Balanced Scorecard - Global Membership - Accounting and Finance Assignment Help

Assignment Task :

CPA Australia is one of the world's largest accounting bodies with a global membership of more than 164,695 members (as at 31 December 2018) working in 150 countries and regions around the world.

Their core services to members include education, training, technical support and advocacy. Employees and members work together with local and international bodies to represent the views and concerns of the profession to governments, regulators, industries, academia and the general public.

In recent years CPA Australia has been under the spot light as their previous CEO Alex Malley came under significant criticism in the media and from CPA members in 2017 for his $1.8 million annual salary and for the significant amounts of CPA funds going towards promoting Malley and his personal interests, such asa paid television show and Malley's autobiography. 

The scandal surrounding Malley, combined with broader member discontent over executive changes that made the board unaccountable and debts accrued from the establishment of a financial planning arm, led to the resignation of the CPA president and two board members by June 2017. 

Since Andrew Hunter was appointed to the role of Chief Executive Officer (CEO) in April 2018 CPA Australia focus has shifted significantly.  

Andrew Hunter wants to ensure that CPA Australia continues to be successful in serving its members and strengthen its role as a trusted professional body of finance experts.

You are the Senior Management Accountant for CPA Australia and have been engaged to assist the Project Manager of the Balanced Scorecard Implementation Project.

You are guided by Andrew’s strong leadership and he recently defined CPA’s vision as one of “partnering with members to prepare for today and tomorrow in a globally connected world.”

ACCA (Association of Chartered Certified Accountants), is one of CPA Australia’s biggest competitors and they have successfully implemented a balanced score card and a balanced scorecard does not currently exist for CPA Australia. 

Required:

Write a report (Maximum 1,500 words, 10% (+/-) will be accepted with no penalty) to the Project Manager of the Balanced Scorecard Implementation project at CPA Australia to outline your Balanced Scorecard analysis and recommendations. The report should include:

1. A recommended balanced scorecard for CPA Australia by presenting the four perspectives of the balanced scorecard and list one or more performance objectives and measures for each perspective that is likely to be important to CPA Australia. Provide justification for each measure and how measuring it would link to improved financial performance. Indicate which measures are leading and which are lagging.

2. An overview of how you would implement the balanced scorecard at CPA Australia, including a high level project plan, key stakeholders, key considerations and identify any high level risks to ensure it is implemented successfully. 

3. An outline of the pros and cons of implementing a balanced scorecard for CPA Australia, provide examples of how it could be used within the organisation and what financial and non-financial benefits could be realised.

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