Continuing Professional Development (CPD) Policy and Requirements

Given the rapid pace and scope of changes in the profession, Chartered Professional Accountants need continuously maintain, update, improve and enhance their knowledge and skills in the area in which they work.

All CPAs must update their professional knowledge.

Continuing Professional Development is an ongoing program of learning which empowers Members to engage in learning activities to enhance their capabilities and competency in their professional roles. In order to maintain public trust, and to uphold the reputation of the CPA designation, all members must constantly update their professional knowledge.

Requirements:

  • At least half of the minimum required hours must be verifiable CPD hours (60 hours of CPD every three year period, at least 4 of which must be professional ethics, and 10 hours of CPD hours annually);
  • Verifiable CPD hours means all learning activities that result in evidence that the learning activity was undertaken;
  • Unverifiable learning activities do not result in evidence that the learning exists, such as technical reading, self-study, etc.;
  • All CPD must be reported by January 31st following year in which it was incurred to remain in good standing;
  • All members must have 4 verifiable professional ethics hours in a 3-year rolling cycle (beginning January 1, 2019).

All CPA members shall retain documentation to support the verifiable learning activities. Such documentation shall be retained for five years after the completion of any particular year. The CPD hours could be audited. In those instances the CPA member would have to prove their CPD hours by submitting support documentation.

Professional Ethics:

Professional Ethics CPD is learning that specifically addresses professional ethics matters that are relevant and appropriate to the member. Just like other verifiable learning activities, the four hour ethics requirement can be fulfilled in a number of ways, including coursework - whether through CPAPEI or other sources, and other relevant learning activities (including in the workplace).

The four hours do not have to be obtained in one single program but can be accumulated through ethics components in any number of seminars or courses. Additionally, the 4 hours are included within the 60 verifiable required over three years, not in addition to - and many courses will break out the ethics components for you, such as a 7 hour tax course may include 1 hour of ethics.

Professional ethics CPD can cover a wide range of topics related to ethics and ethical decision making.

Examples of professional ethics topics include, but are not limited to, the following:

•    Regulatory updates covering the CPAPEI Act, Bylaws, Bylaw Regulations and Code of Professional Conduct
•    Regulatory updates that are relevant and appropriate to the member’s role or industry
•    Professional conduct
•    Corporate codes of conduct
•    Independence/conflict of interest
•    Ethical decision making, approaches, thinking  and case studies
•    Ethical business culture
•    Corporate social responsibility
•    Honesty in business practice
•    Bribery and corruption
•    Doing the right thing
•    Reputation and risk
•    Whistle-blowing
•    Anti-money laundering

 

Download the CPAPEI CPD Policy