As the dreaded year-end looms, a lot of CPAs are scrambling for Continuing Professional Development credit to fulfill their annual obligation. With the consolidation of CA, CGA & CMA into the new CPA designation, have the rules for CPD changed for you?
CPA Canada standards for CPD are now the same nationwide and fall in line with the International Federation of Accountants’ (IFAC).
Annual Requirements:
- 20 hours for all members - ½ must be verifiable*
3-Year Rolling Total:
- 120 hours for all members - ½ must be verifiable*
CPD Exemption:
- The exemption criteria is based on activity - be sure to check the the Exemption Decision Model for the latest criteria.
Verifiable and Unverifiable CPD – What Qualifies?
Verifiable Continuing Professional Development credit is earned by participating in an activity that has a verifiable record proving you completed the activity. Tests, exams, publications, attendance records and reports all fit the bill.
Some examples of verifiable activities:
- Publication of papers or books.
- Research leading to publication.
- Public speaking at sessions or groups pertaining to the profession.
- Formal study.
- Study leading to a designation, diploma or degree.
- Teaching a course relevant to the profession.
Unverifiable Continuing Professional Development credit is earned by participating in an activity that doesn’t produce a product (i.e. paper or book) or keep a record.
Some examples of unverifiable study:- On-the-job training that pertains to the professional role.
- Self-study.
- Reading of professional journals magazines, not part of a specific research application.
Where can you get CPD?
There are many places to look. Each province's CPA association offer Continuing Professional Development training on their sites (click on any province or territory below):
