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<strong>September</strong> <strong>2023</strong> BAY OF PLENTY BUSINESS NEWS 3 Sir Paul Adams inducted to NZ <strong>Business</strong> Hall <strong>of</strong> Fame Sir Paul Adams has been inducted into the NZ <strong>Business</strong> Hall <strong>of</strong> Fame. The long-term Tauranga local was inducted before about 700 <strong>of</strong> his peers at a recent black-tie event in Auckland. It was a far cry from his childhood growing up in a state house in Upper Hutt. Sir Paul is well known in New Zealand for his business acumen and his many philanthropic contributions, especially in the field <strong>of</strong> education. He told the <strong>Bay</strong> <strong>of</strong> <strong>Plenty</strong> <strong>Business</strong> <strong>News</strong> that he was especially pleased the actual award was presented to him by a Tauranga Boys’ College (TBC) student, Isaac Schuler. “I requested a TBC student for the presentation and Isaac was selected for me,” he told BNN. Sir Paul told BBN that TBS was a member <strong>of</strong> YES (Young Enterprise Scheme), which gives budding business students the chance to be involved in business enterprise during the school year. He said that introducing inductees at the hall <strong>of</strong> fame event was an opportunity for those chosen to be exposed to New Zealand business people and to stand in front <strong>of</strong> the Governor-General and introduce inductees. Community support Contributions to the school include the gifting <strong>of</strong> Sir Paul and wife Cheryl’s former house to TBC At the NZ <strong>Business</strong> Hall <strong>of</strong> Fame Award: Sir Paul Adams with Tauranga Boys’ College student Isaac Schuler and Governor General Dame Cindy Kiro. Photo Credit/Young Enterprise NZ. where it was relocated to the grounds and now serves as teacher accommodation and as a site for sports events. Sir Paul said that he and his wife had also supported various students requiring financial support to take part in overseas sporting, cultural and study trips. Sir Paul originally worked at the Wellington Harbour Board engineer’s <strong>of</strong>fice to put himself through polytech and university in civil engineering and business management. He built his reputation as an early pioneer in the kiwifruit industry and his long career has included being a prime mover in establishing the University <strong>of</strong> Waikato in Tauranga and founding the successful Carrus Corp construction company. Although a regular and generous contributor to the community, he generally maintains a low pr<strong>of</strong>ile. His achievements include his knighthood for services to philanthropy and the community and being named a Companion <strong>of</strong> the New Zealand Order <strong>of</strong> Merit for services to business and philanthropy. Sir Paul has held numerous roles including as a director <strong>of</strong> the IHC and the founding chairman <strong>of</strong> large social housing non-governmental organisation Accessible Properties, owned by the IHC. He was a past councillor <strong>of</strong> Waikato University, the Waipuna Hospice patron and life member, the founding director and a life member <strong>of</strong> the Western <strong>Bay</strong> <strong>of</strong> <strong>Plenty</strong> economic agency Priority One and patron <strong>of</strong> Tē Tuinga Whānau Support Services Trust. He was reported as being “truly humbled and honoured” to be acknowledged and welcomed into the ranks <strong>of</strong> fellow businessmen and women who had all made extraordinary contributions to business and the community in New Zealand. Financial literacy gap Chartered Accountants Australia and New Zealand (CA ANZ) welcomes the Government’s announcement <strong>of</strong> mandatory financial literacy education in schools, saying it will help address an essential skills gap that threatens New Zealanders’ economic well-being. While CA ANZ welcomes the announcement and applauds the cross-party focus on the issue, the peak accounting body is concerned by the reduction in accounting content <strong>of</strong>fered in the secondary school curriculum and the significant decline in tertiary accounting degree enrolments since 2018. “Secondary students have less exposure to core accounting with the new NCEA curriculum, and that’s affecting tertiary enrolments. Demand for accounting and finance pr<strong>of</strong>essionals is outstripping supply and New Zealand businesses and the economy more broadly can’t afford for our education system to be a handbrake. “While the latest enrolment figures are good for employers, without improvement in the key settings for university funding and the secondary school curriculum, we will struggle to deliver the pipeline <strong>of</strong> accounting and finance talent that New Zealand needs to compete on a global stage, even with changes to our program,” said CA ANZ NZ Country Head Peter Vial FCA. “The Government introduced mandatory climate-related disclosures for certain large entities this year, and accountants will play a critical role in businesses complying with the new requirements. Yet the Government has significantly reduced the scope <strong>of</strong> accounting at NCEA Level 1 limiting students’ ability to gain exposure to the subject early in their education. “The impacts <strong>of</strong> this change will be seen in five years’ time, where there will likely be a critical supply shortage <strong>of</strong> accountants graduating into the workforce. We have an opportunity to prevent this from happening in the finance and business sector. Take control <strong>of</strong> your future. 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