CPD - Help Articles

What is CPD?

Anyone who belongs to an official Accountancy body is now required to back up their qualification with CPD or ‘Continuing Professional Development’ throughout their career. Take a look at this section to find out exactly what CPD involves.

So what’s it all about?

CPD stands for continuing professional development and is a vital part in a successful accountancy career. As well as keeping you informed about the latest developments in the industry, CPD is an excellent way for you to move your career forward.

CPD is considered necessary to ensure you have the skills required to undertake the professional and technical duties of your role and maintain continuous high standards. For Accountancy professionals CPD can be divided into four main areas:

• • Accounting – either further study or keeping up-to-date on industry developments.
• • IT – training on various software packages or any IT skills that will allow you to do your job more effectively.
• • Supervision and management – either for your current role or to prepare you for a future position.
• • Soft skills – anything at all that will allow you to be better at your job and develop your career: presentation skills; time management; project management etc.

What counts as CPD?

Basically any learning, training or experience that will help you in your current role or allow you to develop your career can count as CPD. Most Accountancy bodies will require you to undertake a set amount of structured CPD (like courses/further study) as well as more unstructured training such as reading relevant books or journals.

Here are some activities that can count towards your total CPD:

• • Workshops, training courses and conferences.
• • Coaching and mentoring.
• • Professional body branch meetings.
• • Further study.
• • Voluntary work.
• • Relevant reading/research.
• • Discussion groups.
• • Online or computer-based training.
• • Coaching from colleagues or industry specialists.
• • Special projects or secondments.
• • Hands-on experience such as trying a new software package.
• • Specific CPD courses run by your Accountancy body.
• • Commercial Courses.

Remember, the Accountancy body you’re registered with and your employer are both there to support you in attaining CPD points. Don’t be afraid to ask for guidance when you’re considering what training and development would be most useful for you.

How does CPD apply to me?

CPD requirements vary between the different Accountancy bodies so it’s important you find out exactly what it is you’re expected to accomplish. This section is designed to give you a quick overview of the various CPD policies of each body.

CPD requirements for AAT:

AAT considers CPD to be the best way to ensure members are kept up-to-date with the constantly changing world of taxation and are therefore able to provide their clients with the highest possible standards of service.

Your annual requirement is a total of 45 hours, 15 hours of which will be structured training. AAT appreciates that members not only need to keep up-to-date on related topics such as law, accounting and financial services but will benefit from developing more general skills such as staff development and computer or software skills. To help you develop these skills AAT are happy for up to half of your total CPD points to come from training in non-tax areas.

For more information visit http://www.aat.org.uk/cpd

CPD requirements for ACCA:

ACCA run a scheme called ‘Realise’ to aid members in understanding where they have gaps in their skills and knowledge and how best to meet this need. Participation in this scheme is mandatory for all members including anyone who is semi-retired or working part-time.

The scheme is designed to carefully take you through the full process of CPD from setting objectives that will help you develop your career and skill-set, guiding you as you undertake your chosen CPD activity and afterwards helping as you evaluate your progress.

To comply with ACCA standards you’ll need 40 CPD units, 21 of which must be structured.

For more information visit http://www.accaglobal.com/members/cpd

CPD requirements for CIMA:

CIMA members are required to undertake CPD to ensure they are up-to-date with changes in the industry, are well prepared to move on to the next stage of their career and are able to continually meet the high standards required of CIMA professionals.

To help you structure your CPD, CIMA have created a Professional Development Cycle. The six steps of the cycle are:

• • Define – Think about the demands of your current role as well as considering what skills you’ll require for the next stage of your career.
• • Assess – Think about any gaps in your knowledge and skills and the areas in which you most need development.
• • Design – Choose the development activities that will help you meet your objectives.
• • Act – Undertake your development activities.
• • Reflect – Consider what you learned from your development activity and how you can apply that learning in your role.
• • Evaluate – Assess how far your development has met your objectives and use this to complete your development records.

CIMA does not prescribe a set amount of hours or units. You should judge for yourself how much time you will have to dedicate to training in order to meet the needs of your role.

For more information click here

CPD requirements for CIPFA:

The CIPFA CPD scheme has been designed to ensure members are up-to-date with industry standards and to help them in maintaining and developing their professional skills.

To help you do this CIPFA has created the CIPFA Learning Centre, a website that allows you to:

• • Register and declare your CPD.
• • Review, plan, undertake, record and reflect on CPD.
• • Access technical, management and leadership materials.
• • Share CPD plans and discuss issues with other CIPFA members.

Over a three year period you’ll need to do 120 hours of CPD, with 20 hours of structured activities each year. If you have not yet registered for the CIPFA scheme it may be possible to backdate your start date for up to 12 months to include any development already undertaken.

For more information visit http://learning.cipfa.org.uk

CPD requirements for ICAEW:

ICAEW members are required to undertake CPD to develop and enhance their professional value. Their CPD scheme is a requirement for all members except for those who are fully retired.

To fulfil ICAEW’s CPD scheme you must:

• • Consider what is required in your role.
• • Undertake any activities that will help you meet these expectations.
• • Reflect on whether the activities you have undertaken reflect the needs you identified.
• • Submit an annual declaration that you have met expectations.

For more information visit http://www.icaew.com/index.cfm?route=1246

CPD requirements for ICAS:

ICAS has created a CPD programme for its members called ‘CA Lifelong Learning – Retain the Distinction’. The aim of this programme is:

• • To maintain the professionalism and ethical awareness of members.
• • To uphold the value of the CA brand.
• • To enhance ICAS members’ reputation with employers, clients and colleagues.

The Professional Development Process scheme requires you to think carefully about your training and development requirements for current and future roles and to undertake any activities that will help you meet your development needs. There are no set hours, the focus is on the relevance of CPD activities to your career.

Fore more information http://www.icas.org.uk/site/cms/contentChapterView.asp?Chapter=78