Part of Davison’s role is also ensuring that small business compliance is proportionate and not burdensome. He discusses how public interest, policy and advocacy can help address the unique challenges facing small accounting practices and the role of cycling and chocolate in his success.
You’ve had an extensive career in the superannuation industry. Could you tell us about your background and how it led you to advocacy work?
I’ve been doing policy advocacy in the professional accounting body space for 20-odd years, spending a number of years at CPA Australia. My focus has always been retirement savings—superannuation, pension, retirement income—that was always my passion in the policy space. I came from the superannuation industry originally, working across the retail sector with organisations like National Mutual, what is now AMP, Bankers Trust, Commonwealth Bank, Colonial, and Rothschild.
I was really interested in the technical side of it, the law work and the policies behind it. I got involved in policy groups between the major industry bodies and became passionate about making sure the system worked properly. That’s what drew me to the accounting profession. The number one responsibility for our members in the accounting profession is public interest, and what greater public interest issue is there than our retirement? We’re all impacted by it; we all have superannuation or age pension, affected by it.
What drew you to the IPA?
Small businesses are a big player in Australia—it’s cliché to say they’re the backbone of the economy, but they really are important. Being small, the IPA is quite nimble and agile, and we can focus on emerging policy issues that impact our members and their clients, such as AI, digital technology, and sustainability.
There are also things like the anti-money laundering changes that bring accountants into the fold. It’s emerging and affects our members.
What do you see as the main challenges facing small accounting practices with increasing compliance burdens?
The majority of our members are small businesses, and there have been so many compliance additions and red tape obligations placed on them over the last few years. It’s quite difficult and expensive, depending on the space you’re practising in.
Part of my role is ensuring that when compliance is applied to small businesses, it’s proportionate and not as burdensome as for large businesses with greater resources. For example, with anti-money laundering requirements, a single-person business or small practice isn’t going to have the structure to implement a large framework when there’s just one person doing the work.
We’re seeing this impact in areas like financial planning, where advisors are leaving in droves because of the regulatory burden. Accountants are considering leaving that space, being scared off by the excessive level of regulation.
How important is collaboration in effective advocacy?
It’s essential. The three accounting bodies are obviously competitors, but we collaborate very closely on policy issues and advocacy, doing a lot of joint work. I’m a big fan of collaboration first.
We work together on everything from professional standards and tax separation to anti-money laundering. We’ll probably develop joint guidance for our members on these issues.
The Government wants to hear one voice. They don’t want three voices coming to them. Collectively, as one voice, we’re more powerful, so it makes sense for us to work together.
What ingredients make for successful advocacy?
Understanding the issue, being right across it, and knowing your desired outcomes are crucial. A lot of groundwork talking to all levels of people you’re advocating to is important. And critically, being one of many voices saying the same thing—consistency of message is key.
If you can have industry sectors and professions presenting a consistent message to policymakers or regulators, there’s a much greater opportunity to get outcomes. And it needs reinforcement in the media. Be loud, but be constructive. As I like to say: “Be loud or be constructive. Be loud.”
How do you maintain work-life balance in such a demanding role?
Cycling is my escape. When I worked in an office, I rode to and from work every day, and that was my separation between work and personal life. Working from home makes that separation harder, so I try to ride from work to home by taking a lap around the local hill.
I’m passionate about cycling, particularly single-speed mountain biking—that’s mountain biking with no gears. I’ve ridden in several countries and all over Australia. It’s really about the break between work and personal life.
And finally, what’s your guilty pleasure?
Chocolate, definitely chocolate!
More information on IPA’s advocacy on behalf of members and small business can be found here.
