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Jun 26, 2017

How Alex Malley walked away from the CPA with a $4.9m payout

The CPA is not a wildly successful business story like say Flight Centre or Seek.com, yet it's outgoing CEO has been paid a bundle.

Adam Schwab — Business director and commentator

Adam Schwab

Business director and commentator

Well, that explains it. While using an independent board review as cover, the CPA board, or what is left of it, has just allowed Alex Malley to complete one of corporate Australia’s most audaciously planned heists. Forget George Clooney and Ocean’s Eleven — Malley went one better and is walking away after being “sacked” from his role as CEO of the CPA with a payout of $4.9 million.

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7 comments

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7 thoughts on “How Alex Malley walked away from the CPA with a $4.9m payout

  1. CML

    I have a young relative who is a member of CPA…but as he says, what can one person do?
    The whole episode gives professional bodies a bad name. There is a need for more regulation of these organisations, to stop members being ripped off by the likes of Alex Malley.
    Naked greed personified!

  2. mikeb

    I am a CPA member. It is only because of employment requirements that I pay these thieves.

  3. Procrustes Kelleher

    This is an utterly shameful episode in the ASCPA history. The rise of credentialism has been fostered by this recent bunch of “directors” and how someone like Malley could have been competitive in a field of candidates for that CEO role bears investigation. No wonder young accountants feel mugged and abused as they fork out thousands to achieve a CPA status that’s stacked against them.

  4. Pedantic, Balwyn

    I had better buy Malley’s book. I would like to learn how to perform daylight robbery and get away with it. Members of the CPA must be a pack of mugs to let themselves be screwed by this shyster, perhaps a class action could recover all payments to Malley for lack of performance, except in his own interests is called for?

  5. AR

    Malley is still on the Macquarie radio’s Smithy’s Deplorables urging ‘red in tooth & claw capitalism’.
    Slow learners or no shame?

  6. RICHARD TEMPEST

    How embarrassing that an organisation that preaches “transparency” in all things accounting should be hoodwinked by such an entrepreneurial opportunist. My annual CPA fees have not been so bad over the years but I have often wondered why professional development fees for courses etc have been so high – especially as my employer was loath to pay them for me. Now I know why – we’ve had to pay for the likes of O’Malley and perhaps some of his mates. Glad I am now on the retired list!

  7. Dog's Breakfast

    This has been a shameful episode, how does one get away with this and not end up in the Brig!
    $4.9M!!!!!!!!!!!!!!! Unfathomable.

    Carry on angrily, Adam.