11 January 2016 
Rachel Ward, Learning and Development Manager
Although you may not be in the mood for replying to another consultation, this one might interest you. The International Accounting Education Standards Board has published a Consultation Paper, Meeting Future Expectations of Professional Competence: A Consultation on the IAESB’s Future Strategy and Priorities. The IAESB “recognizes that professional accountants are operating in an environment that is continuously changing. This has an impact on the initial and continuing professional development needs of professional accountants and the demands placed on professional accountants globally.”
You might also be completing a CPD declaration so here’s a quick reminder of what the institutes require of their members. There is often talk of “CPD points” but not all institutes operate this sort of system. For example, the ICAEW does not dictate centrally how much CPD members must do. There are no set hours or points to gain and you are left to decide what is required to remain efficient in your role but you must declare compliance with the CPD requirements by 31 January.
If you are an ACCA member, there are different routes to help you complete your CPD. As an ACCA member you should have already made your declaration of CPD activity and if you follow the unit route, declared that you have completed 40 relevant units of CPD each year, where one unit equals one hour of development.
CIMA rules say “CPD compliance is based on trust and whilst CIMA offers support to Members, it is the responsibility of Members to assess their development goals and needs, select the most appropriate activities, and design their CPD programmes accordingly.” You don’t have to complete a CPD return but you could be selected for random monitoring.
CIPFA members select the CPD year, based on a calendar, financial or appraisal year (e.g. August to July, April to March), and three-year CPD cycle. 120 hours of CPD activities are required over a three-year period with a minimum of 20 hours in any one year. The CIPFA website says, “The scheme is designed to be as flexible as possible. It takes into account the various sectors CIPFA members work [in] (nowadays many members work outside of mainstream accountancy and audit roles).”
ICAS asks its members “to focus on the outcome of CPD activities, as opposed to the time spent on them” and says “Under the CPD scheme there is no requirement to achieve a certain number of hours or points...” but check out their website to make sure you are up to date with how to record and evidence what you have done.
