The CPA has for some time been considering how to reduce the cost and increase the speed of determining compensation. With that objective, the CPA strongly supports efforts to resolve or narrow compensation issues before a reference to the Tribunal is made. Following the approach adopted in the High Court, the CPA has drafted a “protocol” which provides guidance as to what parties should do before making a reference to the Tribunal. The text of the protocol has been developed through lengthy discussions between CPA working party members, representatives of other professions and the Tribunal. We are now near the end of the journey and the protocol will be submitted to the CPA membership for consideration prior to the National Conference, before a vote at the AGM seeking its formal adoption.
At the CPA National conference, Guy Roots QC reviewed the topic. To read what he said, click here.
If the protocol is adopted, it will set a benchmark in terms of good practice and create an expectation that all professional advisers undertaking compensation work will have regard to the procedures it recommends.