Why is CPA Australia hoarding $91 million?

Alex Malley was called several times by now "record surplus" CPA Australia during his time at the helm. This jargon, of course, ignores the fact that the CPA is not a for-profit business, but a service provider owned by its members. In this case, huge surplus funds are either overcharged or under-invested funds.

It's the same for the assets. Why, oh, why CPA that has assets worth $ 195.4 million, including $ 97 million in cash? If you deduct a liability of $ 104.4 million, a net asset of $ 91 million, equivalent to $ 568 per member.

The competitor CPA, Accountants, Australia and New Zealand is an even more obvious advantage, with net worth of $ 71.6 million, or $ 612 per member. Engineers from Australia is another clash with 32 million, or $ 320 per member.

Searching abroad (such as Malley, the general is forced to do by actual peers), and ACP America reported net balance of assets in 2014 to 39.4 million, or 94 dollars per member. The Chartered Institute of Accountants UK Management Institute has net assets of $ 4 million, or $ 40 per member.

Whether it be Medical Colleges, recommendations from institutes or management, the mandates for basic services were buried by the lines of letters. Superior imagine how real estate trustees and fund managers will justify the proportional share package and is inflated. Is it any wonder that these "leaders" constantly prohibit new frontiers, every new space for growth justify a new online penetration costs?

Whether it's 91 million or 32 million - both are evidence of severe overload and maintenance of the members. This is a bloody time for a special dividend payment! And a return to the basics, especially in values. And no, not the self-aggrandis proverbs that read in the lousy airport books.