DOCSLIB.ORG

“The Financial Services Reform Act and Australian Bank Risk”

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
“The Financial Services Reform Act and Australian Bank Risk” “The financial services reform act and Australian bank risk” Bernard Bollen AUTHORS Michael Skully Xiaoting Wei ARTICLE INFO Bernard Bollen, Michael Skully and Xiaoting Wei (2010). The financial services reform act and Australian bank risk. Banks and Bank Systems, 5(1) RELEASED ON Thursday, 18 March 2010 JOURNAL "Banks and Bank Systems" FOUNDER LLC “Consulting Publishing Company “Business Perspectives” NUMBER OF REFERENCES NUMBER OF FIGURES NUMBER OF TABLES 0 0 0 © The author(s) 2021. This publication is an open access article. businessperspectives.org Banks and Bank Systems, Volume 5, Issue 1, 2010 Bernard Bollen (Australia), Michael Skully (Australia), Xiaoting Wei (Australia) The Financial Services Reform Act and Australian bank risk Abstract This paper examines changes in the risk of eight Australian banks following the introduction of the Financial Services Reform Act of 2001 in Australia. This legislation introduced a new licensing regime into Australian finance and extended it to cover all financial services providers. It, among other things, required specialized staff training for specific positions of customer interaction as well as the mandatory and continuous disclosure of all fees and charges as well as the risks associated with financial products offered to the public. Using daily prices and the market model over a five-year sample period (2001 to 2006) we found different reactions between the larger and smaller banks. It provides some evidence that the larger banks may have reduced their level of systematic risk. In contrast, the smaller banks either experienced no change, or in one case perhaps a slight increase. These differences may reflect the degree of change required with their complying with the Act. The larger banks, which already had extensive staff training operations in place, were better placed to meet these new requirements, whereas the smaller banks required a greater relative investment in their initial and ongoing compliance. These results remain robust to the impact of the 2002 dot com stock market downturn. Keywords: bank risk, banking, Australia, regulation. JEL Classification: G21, G28. 2 Introduction © legislation for the various industry sectors . It also protects retail clients3 as they are deemed to have The Financial Services Reform Act (FSRA) is less ability or skills to access the financial Australian government legislation administered by information or to evaluate financial products the Australian Securities and Investments compared with wholesale clients. To enhance Commission (ASIC). In regulatory terms, it is consumer protection, it requires all financial service considered “unique in that it is a single code that providers continuously to disclose any material regulates a vast variety of products and services” information which may affect clients’ decision (Pearson, 2006). It was first proposed by the making. Finally, it leads to greater competition Financial Systems Inquiry Report1 in 1997, so the between financial firms due to clients’ knowledge of Australian financial system could meet the their costs and performance and so it would likely challenges of globalization, convergence and raise product quality (Pearce, 2005). technological change (Lim, 1997). The report offered three reasons for reform. First of all, there The FSRA was only one part of Australia’s major was a change in customer financial needs caused by regulatory reforms in the 1990s whereby a mix of changes in demographics, work force patterns and state and federal regulations and regulators were customer attributes. Secondly, advanced technology absorbed into what might be best called a tripartite had expanded information networks, encouraged system. The Australian Prudential Regulation electronic channels use for financial services and Authority (APRA) became Australia’s one increased both domestic and international prudential regulator while the Australian Securities competition. Finally, financial system reform was and Investment Commission (ASIC) took also forced by Australia’s own regulatory changes responsibility for the financial markets, market to include compulsory superannuation, taxation conduct, clearing and settlement systems and arrangements and the liberalization of cross-border consumer protection as well as corporate activities. capital flows. The FSRA was designed to keep the These operations were then effectively overseen by financial market true, fair and honest (Financial the central bank, the Reserve Bank of Australia, Services Reform Act, 2001). In order to achieve this which retained responsibility for monitoring the goal, it provides a single unified licensing regime country’s systemic risk and payment systems. which covered all financial markets, products and The first main requirement of FSRA is for all service providers (including individuals, financial service providers to hold a licence and partnerships, trustees and companies) under one regulatory scheme rather than having different 2 As Harding (2001) explains, the FSRA, technically part of the revised © Bernard Bollen, Michael Skully, Xiaoting Wei, 2010. Corporations Act, also helped to reinstate the Australian government’s 1 Australia’s Financial Services Inquiry was appointed by the Australian powers to act in these matters. Previously, it had effectively shared government in June 1996 to examine the results of Australia’s financial many of these powers with the state governments. deregulation; the impact of technology and other future change; and 3 Generally speaking, a retail client includes individuals and small recommended an appropriate regulatory system, accordingly (Financial businesses. Under Corporations Act 2001, a financial product is provided System Inquiry, 1997). Ramsay (2001) provides some useful to a retail client when the financial product is not a general insurance background to the report as well as linking its views to the resulting product, a superannuation product or a retirement saving account and the FSRA as Von Nessen does (2006). financial product is not provided for use in connection with a business. 58 Banks and Bank Systems, Volume 5, Issue 1, 2010 thereafter comply with all the rules under FSRA consequences and be heavily regulated. Despite (FSRA, 2001). The FSRA was passed by the concerns of the costs of the FSRA, some banks Australian Parliament on August 23, 2001 and offered some positive reactions. Indeed, the National commenced operations on March 11, 2002 with a Australia Bank (NAB) applied for its financial two-year transition period, i.e. it was not fully services licence six months before the deadline effective till March 11, 2004: seven years after it was (March 11, 2004) (NAB, 2003). Additional staff proposed by the Financial Services Inquiry. training was also undertaken at the Bank of Businesses that commenced after March 11, 2002 Queensland (Liddy, 2004), National Australia Bank had to obtain a financial services licence but existing (NAB, 2003) and other Australian banks between entities did not need one until March 11, 2004. This 2003 and 2004; most banks found it beneficial. gave them two years to adapt to the new rules. Since the implementation of the FSRA, various Therefore, the full effect of FSRA should only be arguments about its benefits and effectiveness have observed after March 11, 2004. The FSRA’s other emerged. One stream has focused on the impact of the main requirement concerns disclosure (FSRA, 2001). FSRA on bank risk. The FSRA was introduced with This information has to be relevant, clear and the main purpose of integrating the financial system. In concise. When financial services are provided to their analysis of financial services providers, some retail clients, financial services guides (FSG), researchers have argued that it may have changed bank statements of advice (SoA) and product disclosure risk as well. This lower risk resulted from the FSRA’s statements (PDS) are required. The FSG outlines the more strict disclosure requirements. This requirement basic information that any retail client is entitled to of more information facilitates more effective market receive. The SoA explains the fees, commission or discipline through which bank risk is reduced any association that might affect the advice. The PDS (Moutsopoulos, 2005). The FSRA’s requirement of a states the features of the financial product and the higher level of staff qualifications and staff training benefits and risks of investing. These statements are may also have lowered bank risk in that greater staff meant to help retail clients better understand financial competence should reduce operational risk (Shepherd, products and so make better investment decisions. 2006). Nevertheless, the FSRA is also claimed to be However, it has been argued that FSRA may not less effective than expected. Despite the extra achieve this goal due to the lengthy, complex information, consumers may not be able to understand documents provided (Pearce, 2005). The arguments it (Phillip, 2004). Furthermore, even if they could for and against the FSRA’s effectiveness are understand these documents, Haigh (2006) argued that discussed further in the literature review section. as these product disclosures are not subject to audit, this may weaken their effectiveness. So the bank risk After the FSRA’s implementation, the Australian might not have been reduced after all. Worse still, banks publically expressed their concerns about its some banks may have sought to offset the FSRA’s operational impact. The Bank of Queensland
Load more

Recommended publications
  • Resourcing Vocational Education and Training in Australia
    NCVER in Australiavocationaleducation traeininducatig resourcinon trainig ng vocational education and trainingresourcing edtruaincaitionng Australia Resourcing vocational education and training in Australia Tom Dumbrell ©Australian National Training Authority, 2004 This work has been produced by the National Centre for Vocational Education Research (NCVER) with the assistance of funding provided by the Australian National Training Authority (ANTA). It is published by NCVER under licence from ANTA. Apart from any use permitted under the Copyright Act 1968, no part of this publication may be reported by any process without the written permission of NCVER Ltd. Requests should be made in writing to NCVER Ltd. The views and opinions expressed in this document are those of the author/project team and do not necessarily reflect the views of the Australian National Training Authority. ISBN 1 920895 25 6 print edition ISBN 1 920895 26 4 web edition TD/TNC 76.10 Published by NCVER ABN 87 007 967 311 Level 11, 33 King William Street, Adelaide SA 5000 PO Box 8288, Station Arcade SA 5000, Australia <http://www.ncver.edu.au> Contents Tables and figures 4 Executive summary 5 The policy environment leading to the ANTA Agreement 7 Background 7 The ANTA Agreement 10 The VET policy environment ten years on 12 The decade of change 12 Changing industry structure during the nineties 14 Changing occupational structure during the nineties 15 Changing social philosophies 15 VET in Schools 18 VET funding 20 Funding and growth in VET and TAFE—1989–90 to 1999 20
    [Show full text]
  • Social and Cultural Links Between Australia and the Middle East 197
    8 6RFLDODQG&XOWXUDO/LQNV%HWZHHQ$XVWUDOLD DQGWKH0LGGOH(DVW 8.1 This Chapter examines the social and cultural links which have been established between Australia and the Middle East region, and how these links might be enhanced. 8.2 Social, cultural, educational and other links between Australia and the Middle East have been underpinned by the contribution made to Australia's social and cultural life by migrants from many countries of the region. For most communities from the Middle East, migration to Australia on a large scale has been a fairly recent phenomenon, influenced by major upheavals or historical events—for example, the protracted Arab-Israeli conflict, the 15-year civil war in Lebanon, the Gulf War and the emergence of fundamentalist Islamic states. Against this background, prospective migrants from the region, as from other parts of the world, have been attracted by the opportunities presented by Australia's immigration program. Migration to Australia from the Middle East 8.3 According to data derived from the 1996 census,1 the countries that represent the most significant sources of migration from the Middle East, as a percentage of the total Australian population, are Lebanon, Egypt, Iran, and Iraq. Table 8.1 overleaf shows the size of relevant populations: 1 The latest census was conducted in August 2001. 196 Table 8.1 Populations born in the Middle East, 1986 and 1996 Percentage of Total 1986 1996 Country of Birth Australian Population in Census Census 1996 Bahrain (a) 58 (b) Egypt 30,633 34,139 0.19 Iran 7,498 16,244 0.09
    [Show full text]
  • Maternal Deaths in Australia 1997–1999
    Maternal Deaths in Australia 1997–1999 MATERNAL DEATHS SERIES Number 1 Maternal Deaths in Australia 1997–1999 Emma K Slaytor Elizabeth A Sullivan James F King Contributing authors: Marie-Paule Austin, Michael Bennett, Georgina Chambers, Michael Humphrey, Michael Paech, Wendy Pollock, Gunapoopathy Ponnampalam, Barry Walters August 2004 Australian Institute of Health and Welfare Canberra AIHW cat. no. PER 24 © Australian Institute of Health and Welfare 2004 This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced without prior written permission from the Australian Institute of Health and Welfare. Requests and enquiries concerning reproduction and rights should be directed to the Head, Media and Publishing, Australian Institute of Health and Welfare, GPO Box 570, Canberra ACT 2601. This publication is part of the Australian Institute of Health and Welfare’s Perinatal Statistics Series. A complete list of the Institute’s publications is available from the Publications Unit, Australian Institute of Health and Welfare, GPO Box 570, Canberra ACT 2601, or via the Institute’s web site (http://www.aihw.gov.au). ISSN 1449-8863 ISBN 1 74024 392 7 Suggested citation Slaytor EK, Sullivan EA & King JF 2004. Maternal deaths in Australia 1997–1999. AIHW Cat. No. PER 24. Sydney: AIHW National Perinatal Statistics Unit. (Maternal Deaths Series No.1) Australian Institute of Health and Welfare Director Dr Richard Madden Published by AIHW National Perinatal Statistics Unit Printed by Union Offset Printers
    [Show full text]
  • The Impact of Economic Selection Policy on Labour Market Outcomes for Degree- Qualified Migrants in Canada and Australia
    IRPP Immigration and Integration Diversity, choicesVol. 14, no. 5, May 2008 ISSN 0711-0677 www.irpp.org The Impact of Economic Selection Policy on Labour Market Outcomes for Degree- Qualified Migrants in Canada and Australia Lesleyanne Hawthorne Lesleyanne Hawthorne is associate dean, international, at the University of Melbourne. Previously she was research manager at Australia’s ounded in 1972, the Institute for Research on Bureau of Immigration, Multicultural and Popu- Public Policy is an independent, national, lation Research. She has 20 years of experience F nonprofit organization. researching high skill migration. Most recently she was recruited by the Organisation for Economic IRPP seeks to improve public policy in Canada by Co-operation and Development to compare high generating research, providing insight and sparking skill migration patterns across 10 member nations. In 2005-06 Professor Hawthorne was appointed to debate that will contribute to the public policy an Expert Panel of Three by Australia’s federal decision-making process and strengthen the quality of cabinet to do the most extensive evaluation of the the public policy decisions made by Canadian nation’s skill migration program since 1988 (all professional fields). Since September 2007 the governments, citizens, institutions and organizations. panel’s recommendations have governed the selection of all economic migrants. In 2004-06 she IRPP's independence is assured by an endowment fund was commissioned by Citizenship and Immigration established in the early 1970s. Canada, Statistics Canada and Human Resources and Social Development Canada to compare labour market outcomes for migrant professionals in Canada and Australia in 10 key fields. In 2006-07 she completed the most complete Australian study ondé en 1972, l’Institut de recherche en to date on foreign medical graduates (following the politiques publiques (IRPP) est un organisme main Australian studies on global mobility in the engineering and nursing professions).
    [Show full text]
  • SONIC HEALTHCARE ANNUAL REPORT 2001 SONIC HEALTHCARE ANNUAL REPORT 2001 SONIC HEALTHCARE ANNUAL REPORT 2001 Directors Mr B
    SONIC HEALTHCARE ANNUAL REPORT 2001 SONIC HEALTHCARE ANNUAL REPORT 2001 SONIC HEALTHCARE SONIC HEALTHCARE ANNUAL REPORT 2001 Directors Mr B. S. Patterson Chairman Dr C. S. Goldschmidt Managing Director Mr C. D. Wilks Finance Director Dr M. M. Barratt Mr C. J. Jackson Dr M. F. Robinson Dr P. Dubois Dr H. Scotton Mr R. P. Campbell Mr M. D. Boyd Company Secretary Mr P. J. Alexander Annual General Meeting The 2001 annual general meeting of Sonic Healthcare Limited will be held at the Hotel Intercontinental, Sydney, at 10 am on Thursday, 29 November 2001 Principal registered office in Australia 95 Epping Road, North Ryde New South Wales 2113, Australia Phone 61 2 9855 5444 Fax: 61 2 9878 5066 Website: www.sonichealthcare.com.au Share Registry Computershare Registry Services Pty Ltd Level 5, 115 Grenfell Street, Adelaide South Australia 5000, Australia Phone: 61 8 8236 2300 Fax: 61 8 8236 2305 Website: www.computershare.com Auditor PricewaterhouseCoopers Solicitors Allens Arthur Robinson Manion McCosker Bankers Australia and New Zealand Banking Group Limited Westpac Banking Corporation Citibank ABN-Amro Stock exchange listings Sonic Healthcare Limited shares are listed on the Australian Stock Exchange DESIGNED AND PRODUCED BY ARMSTRONG MILLER+MCLAREN PHOTOGRAPHY BY BOB AND MIKE ARMSTRONG Shareholders’ Information (continued) 2. Interests of directors in securities as at 24 September 2001 Sonic Healthcare Ordinary Shares Interest B.S. Patterson 3,816,646 Held Beneficially Dr C.S. Goldschmidt 575,000 Held Personally 225,000 Held Beneficially Annual Report C.D. Wilks 300,000 Held Personally 189,500 Held Beneficially Dr M.M.
    [Show full text]
  • 2003-11-01 Firearm Related Deaths in Australia, 1991-2001.Pdf
    A U S T R A L I A N I N S T I T U T E O F C R I M I N O L O G Y No. 269 t r e n d s Firearm Related Deaths & in Australia, 1991–2001 i s s u e s Jenny Mouzos and Catherine Rushforth in crime and criminal justice An examination of fi rearm related deaths in Australia between 1991 and 2001 found a 47 per cent decrease in numbers, with a fall in the number of suicides accounting for the largest part of that decrease. Nine out of 10 fi rearm related deaths involved males. Compared to fi rearm related suicides and accidents where less than 10 per cent involved the death of a female, a higher proportion of homicides involved a female victim (33%). Persons under the age of 15 years were least likely to die as a result of a fi rearm related injury. Males and females who suffered a fatal fi rearms injury tended to follow a similar age distribution, with persons aged between 24 and 34 years accounting for the largest number of fi rearm related deaths. There appears to be a shift in age related risk between 1991 and 2001. In 1991, males aged between 15 and 24 years had the highest risk of fi rearm related fatal injury (rate of 9.5 per 100 000), whereas in 2001 males aged 65 years and older had the highest risk (rate of 4.9 per 100 000). The majority of fi rearm related deaths were committed with a hunting rifl e, although there has been an increase in the use of handguns.
    [Show full text]
  • The One-Tel Collapse: Lessons for Corporate Governance
    The One.Tel Collapse: Lessons for Corporate Governance Author Monem, Reza Published 2011 Journal Title Australian Accounting Review DOI https://doi.org/10.1111/j.1835-2561.2011.00151.x Copyright Statement © 2011 CPA Australia Ltd (CPA Australia). This is a preprint of an article published in the Australian Accounting Review. Reproduced in accordance with the copyright policy of the publisher. The definitive version is available at http://onlinelibrary.wiley.com/ Downloaded from http://hdl.handle.net/10072/42673 Griffith Research Online https://research-repository.griffith.edu.au The One-Tel Collapse: Lessons for Corporate Governance Reza Monem Dept of Accounting, Finance and Economics Griffith University 170 Kessels Road Nathan, QLD 4111 Australia Email: [email protected] Phone: +61-7-373 53598 (Australia) Abstract: One-Tel was a major corporate collapse in Australia in 2001. At the time of its collapse, it was the fourth largest telecommunications company in Australia with more than two million customers and operations in eight countries. Analyses of quantitative and qualitative data from diverse sources suggest that One-Tel’s collapse is a classic case of failed expectations, strategic mistakes, wrong pricing policy, and unbridled growth. The company’s meteoric rise and fall was associated with serious deficiencies in its corporate governance including weaknesses in internal control, financial reporting, audit quality, board’s scrutiny of management, management communication with the board, and poor executive pay-to- performance link. Thus, the collapse of One-Tel has several important lessons on the role of corporate governance in preventing corporate collapse. JEL classification: M41 Brief biography: Reza Monem is Associate Professor of Accounting at Griffith University, Nathan Campus.
    [Show full text]
  • Off Beat: Atrial Fibrillation and the Cost of Preventable Strokes
    Off beat: Atrial fibrillation and the cost of preventable strokes September 2011 Atrial fibrillation and the cost of preventable stroke Contents Glossary ..................................................................................................................................... i Executive Summary .................................................................................................................... i 1 Background ..................................................................................................................... 5 1.1 What is atrial fibrillation? .................................................................................................. 5 1.2 The risk of stroke in people with AF ................................................................................... 6 1.3 What can be done to prevent strokes in people with AF? .................................................. 7 2 The prevalence of AF in Australia .................................................................................. 10 2.1 Australian prevalence studies of AF ................................................................................. 10 2.2 How many Australians have diagnosed AF? ..................................................................... 12 2.3 What proportion of AF is undiagnosed? .......................................................................... 14 2.4 Total prevalence of AF..................................................................................................... 15 3 The impact
    [Show full text]
  • Urban Growth Centres on the Periphery
    Australasian Journal of Regional Studies, Vol. 15, No. 1, 2009 3 URBAN GROWTH CENTRES ON THE PERIPHERY: AD HOC POLICY VISION AND RESEARCH NEGLECT1 Ameeta Jain School of Accounting, Economics and Finance, Deakin University, 221 Burwood Highway, Burwood, (Melbourne) Victoria, 3125; and School of Business, University of Ballarat, P.O. Box 663, Ballarat, Victoria 3353. Jerry Courvisanos School of Business, University of Ballarat, P.O. Box 663, Ballarat, Victoria 3353. ABSTRACT: The focus of this paper is peripheral urban growth centres on the edges of capital cities in Australia and the challenges they face as dormitory suburbs attempting to establish their own local business development. These challenges create dilemmas as infrastructure and climate change place pressure on long commuting times, while developing strong locally based communities is limited by many resource and demand constraints. The main research question is to examine how these challenges are being addressed in both public policy and academic research. Two propositions emerge from this analysis. The first is that, despite clear recognition of these challenges by public policy makers, there is a lack of coherent policy vision in addressing the dilemmas that are facing these urban growth centres. The second is that, despite all the concerns and lack of policy vision, there is a dearth of useful academic research in Australia to understand the dilemmas and provide guidance for appropriate policy options. In the context of ad hoc policy and academic neglect; Casey, Melton and Wyndham are the three major urban peripheral local government areas in Victoria that are profiled in this paper. They serve as examples in examining incoherence of policy and then analysing the elements that are needed for effective and strong peripheral growth centres that could propel these centres towards efficient and equitable liveable communities.
    [Show full text]
  • Language Support in Australia
    Community language support in Australia The RNLD training model Resource Network for Linguistic Diversity in-community, participant-driven training to provide Indigenous Australians with skills and knowledge they might need to do their own language documentation and revitalisation work RNLD Community Training Model Speakers & outline Freya Scott & Emma Murphy Historical and political context Amy Parncutt & EbonyJoachim (via video) RNLD’s role & projects Warning This presentation may contain photos of Aboriginal and Torres Strait Islander people who have passed away Many languages pre-colonisation (1788) 371 languages 700-800 inc. dialects & varieties 13 languages spoken by children today 150 languages spoken at home 70 languages have a few hundred speakers 80 languages have fewer than 50 speakers Australian Census (2016); Simpson, J. (2019) The state of Australia’s Indigenous languages; Disbray, S. (2015) Indigenous Languages in Education – Policy and Practice in Australia Long history of cultural destruction Frontier Wars [1788 -1930s] 30,000 - 60,000+ killed by colonial settlers & officials Reynolds, Forgotten war (2013); Booth, What are the Frontier Wars? (2017) Missions, reserves, stations Forced resettlement from late 1700s Publicised as “safe havens” from dispossession Schools, Aboriginal ‘Protection’ Acts & Assimilation Indigenous languages banned, “devil’s language” Bringing Them Home. Written Testimonies: Confidential evidence 170. Continued pressure to speak English today Monolingual bias Dominance of English in - government
    [Show full text]
  • Australia's Mothers and Babies 2001
    PERINATAL STATISTICS SERIES Number 13 Australia’s mothers and babies 2001 Paula J Laws Elizabeth A Sullivan September 2004 AIHW National Perinatal Statistics Unit Sydney AIHW cat. no. PER 25 © Australian Institute of Health and Welfare 2004 This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced without prior written permission from the Australian Institute of Health and Welfare. Requests and enquiries concerning reproduction and rights should be directed to the Head, Media and Publishing, Australian Institute of Health and Welfare, GPO Box 570, Canberra ACT 2601. This publication is part of the AIHW National Perinatal Statistics Unit’s Perinatal Statistics Series. A complete list of the Unit’s publications is available from the Publications Unit, Australian Institute of Health and Welfare, GPO Box 570, Canberra ACT 2601, or via the Institute’s web site (http://www.aihw.gov.au). ISSN 1321-8336 ISBN 1 74024 403 6 Suggested citation Laws PJ & Sullivan EA 2004. Australia’s mothers and babies 2001. AIHW Cat. No. PER 25. Sydney: AIHW National Perinatal Statistics Unit (Perinatal Statistics Series No. 13). Australian Institute of Health and Welfare Chair Hon. Peter Collins, AM, QC Director Dr Richard Madden Published by the Australian Institute of Health and Welfare Printed by Pirion Pty Ltd Contents List of tables ......................................................................................................................................... v List of figures .....................................................................................................................................vii
    [Show full text]
  • Architects in Queensland – a View from the Census
    Association of Consulting Architects The Business of Architecture Architects in Queensland – a view from the census Prepared by Gill Matthewson an ACA an ACA resource ACA – SA PO Box 3054 Unley Adelaide, SA 5061 T +61 1300 653 026 E [email protected] www.aca.org.au Association of Consulting Architects SA branch PO Box 3054 Association of Consulting Architects Unley, SA 5061 The Business of Architecture ABN 16 973 810 037 T +61 1300 653 026 E [email protected] www.aca.org.au ARCHITECTS IN QUEENSLAND A VIEW FROM CENSUS DATA Prepared by Gill Matthewson This report is an extension of the ACA State of the Profession research project, led by John Held and Sue Phillips of ACA – SA and funded through a grant from the Architectural Practice Board of South Australia. Census data This report is based on the analysis of customised data about those who identified themselves as architects (occupation code Architect, ANZSCO 232111) in Queensland in the 2001, 2006 and 2011 Australian Bureau of Statistics Censuses of Population and Housing. Census data includes all those who describe their occupation as ‘architect’, whether or not they are registered.1 Because of this, Census figures are more inclusive than other counts of professional participation and, internationally, researchers in architecture consider them to be ‘reasonably accurate’ data for the architecture workforce.2 Overall findings The report finds the following: o Overall, the population of architects in Queensland has increased between each Census, but the percentage of architects in the state’s population is less than the percentage in Australia as a whole.
    [Show full text]