In April, former ICC chief executive Malcolm Speed felt CA's financial matters were quite complicated and its current CEO Kevin Roberts failed to offer a certain degree of clarity required in these troubled times.
On April 16, CA had announced that it would be standing down its majority of staff from April 27 until the end of the financial year due to the pandemic.
The decision saved CA Australian Dollors (A$) 3 million and the country's apex cricket body was slammed by critics due to the fact that it had some A$ 90 million in reserves at the end of March (2020), including 36 million in stock investments.
Its biggest concern was the possibility of India not being able to undertake their tour later this year which could cost CA A$ 300 million.
The players association expressed support for those who had been impacted by the cuts.
"The ACA will continue to work with CA and share these positive findings when the Australian Cricket Council is convened shortly," Nicholson said.
"United and coordinated, cricket is well-placed to make the most of the opportunities which will emerge as the Covid-19 pandemic eases and more normal life resumes."
The ACA board consists of Watson, Greg Dyer, Moises Henriques, Lisa Sthalekar, Alyssa Healy, Pat Cummins, Aaron Finch, Neil Maxwell, Kristen Beams and Janet Torney.