CPD Requirements – Your Guide

Once you have become a newly qualified accountant, you are required to keep your skills up to date by committing to continuous professional development (CPD). Helen Kerrigan, managing director of First Intuition’s CPD partner Future Finance Training explains the differing requirements for membership of ACCA, CIMA and ICAEW and how to meet them.

continuous professional development (CPD)

CPD Requirements – Your Guide

Once you have become a newly qualified accountant, you are required to keep your skills up to date by committing to continuous professional development (CPD). Helen Kerrigan, managing director of First Intuition’s CPD partner Future Finance Training explains the differing requirements for membership of ACCA, CIMA and ICAEW and how to meet them.

CPD requirements

From the moment you pass your exams and start to work as a practising accountant, you have an ongoing responsibility to keep developing your skills and expanding your knowledge – by engaging in continuous professional development (CPD). For some professional bodies, meeting CPD obligations can be as much a requirement of membership as passing the original examinations! Therefore, FI has entered into a partnership with the CPD specialists at Future Finance Training to offer you the programmes you need.

As managing director of Future Finance Training, Helen Kerrigan designs and delivers CPD training courses to delegates worldwide. Helen works with all the major accounting institutes, as well as accounting professionals at major commercial and investment banks, oil and gas companies, and various retail and technology clients. Helen has put together her guide to your CPD requirements below. You can also find further information in the links at the end of this article.

What are your CPD requirements?

Each accountancy institute sets different annual CPD requirements for its members.

ACCA

Each year you need to acquire 40 units of CPD, with each unit equating to one hour of learning. Your 40 hours of CPD have to break down into:

  • 21 hours of ‘verifiable’ participation at face-to-face events, webinars or any other conferences or seminars that are relevant to your role (‘verifiable’ means that you need proof of attendance and/or completion)
  • 19 hours of ‘non-verifiable’ activities, which can include things like reading handout materials if you were due to attend an event but did not attend, or simply reading ACCA articles.

It’s essential that the quality of your verifiable learning meets ACCA standards – which is true of all CPD training events delivered for FI by Future Finance Training.

CIMA

As a member of CIMA, you should participate in 120 hours of CPD over each three-year period. Above all, you do not need to keep count of how many courses, events and activities you participate in. Neither do you have to provide proof of attendance. However you should make sure that your knowledge and skills remain up to date. These must also be of relevance to the particular role you’re in.

By all means, you can meet these requirements through a combination of reading, coaching, online learning and attendance at training events. The may also include webinars, seminars and conferences.

ICAEW

There are no set hours or points to gain for membership of ICAEW. You are expected to complete as much CPD activity as you judge is required to remain efficient in your role.

Meeting your CPD requirements

Whether your qualification is with ACCA, CIMA or ICAEW, meeting your CPD requirements is about much more than ticking boxes; it is your opportunity to keep yourself ahead of the competition. As well as to fuel your career progression, branch out in new directions, expand your network of contacts, and boost the performance of your organisation.

What’s more, the best CPD provision gives you the benefit of being stimulated, challenged and energised.

At FI, you can choose from a flexible programme of engaging CPD options. You can choose from public and private, tailored and off-the-shelf – delivered digitally via live-online sessions or specially recorded on-demand content, as well as face-to-face at FI or in-house.

Whatever course and whatever form of delivery you choose, you can be sure that it will be:

  • accessible, informative and of immediate practical use
  • carefully targeted and personalised to suit your needs.
  • designed and delivered by specialists with at least fifteen years of experience
  • validated with a certificate of participation (meeting ACCA’s verifiable CPD requirements)
  • of high quality and good value

Further Information

ACCA

CIMA

ICAEW

Find out further information about our CPD programmes in East Anglia, Yorkshire and Chelmsford.

 

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