CPD Policy and Requirements
You can find the Continuing Professional Development Policy by clicking here.
Continuing Professional Development (CPD) activities are expected to develop and maintain professional competence to enable you to continue to perform your professional role. Any learning and development that is relevant and appropriate to your work and professional responsibilities and growth as a CPA will qualify for CPD.
The minimum requirement for CPD is that every member, except members who are exempt, shall:
- Maintain 120 CPD hours over a 3-year rolling period (calendar year).
- Complete a minimum of 60 verifiable CPD hours over the 3-year rolling period which shall include a minimum of 4 hours of verifiable learning in professional ethics. The remaining hours can be comprised of verifiable or unverifiable learning.
- Complete a minimum of 20 CPD hours annually, including a minimum of 10 hours of verifiable learning.
Members are required to report their hours using the online portal, or report a CPA Plan to remedy deficiencies to the Association office, by April 30 each year.
1-hour relevant CPD learning activity = 1 CPD hour
For CPD compliance verification purposes, members are expected to retain, for a minimum of five-years, documentation in support of verifiable CPD activities claimed. Verifiable CPD documentation should:
- Describe the learning activity;
- Identify the provider of the activity, where applicable;
- Connect the member to the activity;
- Identify when the activity took place; and
- Provide a basis for concluding that the number of reported hours is reasonable.
APPLYING FOR A CPD EXEMPTION OR SUBMITTING A PLAN TO REMEDY
You can apply for a CPD exemption at any time on the Member Portal.
You can submit your plan to remedy during the member renewal process via your CPD declaration.
ADDITIONAL REQUIREMENTS FOR ENGAGEMENT PARTNERS RESPONSIBLE FOR AUDITS OF FINANCIAL STATEMENTS
In addition to the above requirements, those professional accountants in public practice who are engagement partners responsible for audits of financial statements must comply with the requirements of IES 8 Professional Competence For Engagement Partners Responsible For Audits of Financial Statements (Revised).
To monitor compliance with IES 8 members performing the role of an engagement partner responsible for audits of financial statements will be required to:
- Complete of an annual self-assessment & declaration that they have undertaken sufficient relevant CPD to develop and maintain professional competence as required by IES 8 (Revised);
- Provide, as requested, evidence to support the above annual self-assessments & declarations as may be required from time to time through the provincial CPD compliance verification process.