APRA: Do as I say, not as I do
Squizzy is a great believer in leading by example – something which possibly explains why he is usually first out the door every evening and first into the pub.
And so in these days when superannuation funds are being closely scrutinised with respect to how and where they spend money, he is somewhat confused about how and why the Australian Prudential Regulation Authority (APRA) is going to justify what it has spent on its 2021 Year in Review report.
As someone who has been in the publishing game for most of his adult life, Squizzy knows a quality production when he sees one and, frankly, the APRA 2021 Year in Review is a quality production which can’t have come cheap.
It is certainly something not generated in microsoft word and run off the laser printer.
Now, to be fair, Squizzy has only seen the electronic (pdf) version of the APRA report but he is impressed by the quality of the photography and typography and acknowledges that at least the photographer wasn’t trying for too many expensive location shots, confining the shoot to Martin Place and Wynyard Station but the APRA executive team looked just ducky.
Squizzy knows it would be a brave superannuation fund executive who challenged APRA on the cost of its 2021 Year in Review report but your always cynical correspondent will be greatly disappointed if a back-bencher does raise the issue during a committee hearing.
Leading by example comes in many forms.