Professional accounting bodies the Institute of Public Accountants (IPA), Chartered Accountants Australia and New Zealand (CA ANZ), and CPA Australia are uniting to help upskill accountants to provide mental health first aid to their small-medium enterprise (SME) clients.
The Department of Innovation, Science, Energy and Resources (DISER) had awarded the IPA-Deakin SME Research Centre a $2.24 million grant for its “Supporting Small Business Advisors for Better Mental Health” project.
Through this IPA, CA ANZ and CPA Australia project, more than 5,000 accountants would receive training in providing mental health first aid and be ready to assist clients across Australia by 2022.
The project would build on a $1 million grant received last year through the National Health and Medical Research Council which was developing the training material whilst the latest grant would enable the roll out of the mental health training.
This grant was achieved in collaboration between the professional accounting bodies, Deakin University, Beyond Blue, Mental Health First Aid Australia and Worksafe Victoria.
The Federal Minister for Employment, Skills, Small and Family Business, Senator Michaelia Cash, said the Morrison Government had made mental health a priority during COVID-19.
“The Government is making record investments in mental health services and support with expenditure estimated to be $5.7 billion this year alone,” Cash said.
“Small and family business are the lifeblood of our communities and the backbone of our economy, so it is crucial that they emerge from the pandemic in the best financial and emotional shape possible”.
Kevin Dancey, IFAC chief executive, said: “This is meaningful not only for members of the profession and SMEs, but for society more broadly. Australia is leading on this important work and setting a strong example for others to follow”.
Professor Iain Martin, Deakin Vice-Chancellor, said “With a recent Departmental study showing nearly one in three SME owners had identified a diagnosis in the last 12 months of either experiencing stress, depression or anxiety, now more than ever we must pay close attention to our mental wellbeing”.
Andrew Conway, IPA chief executive, said: “Our combined research grant funding of over $3.24 million through the centre and insights gained through our members and the small business community highlight the significant challenges that SME owners are currently facing due to the COVID-19 pandemic”.
Andrew Hunter, CPA Australia chief executive, said: “This project comes at a critical time for the accounting profession. Throughout the coronavirus pandemic, accountants have played a frontline role in helping individuals and businesses manage the economic fallout, and this has put them under enormous pressure. Mental health is a whole of industry issue and, more so than ever before, needs a collective approach which supports all our members”.
Ainslie van Onselen, Chartered Accountants ANZ chief executive: “Mental health is a whole of society issue and as one of Australia’s most trusted professions accountants have a unique and vital role to play on the front line. Every day accountants see the huge impost that has taken place on their clients and this project will make a huge difference quickly”.
