CPD

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CPD requirements for Accountants

Our ethos re training is provide training that results in real business improvement.

Successful firms know that their people are their most important asset. We strive to ensure that the training investment in your people gives you demonstrable returns.

Our clients tend to adopt an approach of working in partnership with us to identify training needs, design courses that will address those areas which happens to satisfy CPD requirements rather than making CPD hours the driver behind the training.

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What qualifies as CPD?

The UK accountancy bodies (detailed below) often draw a distinction between verifiable and non verifiable CPD.  This has led to many organisations claiming that you need to attend training courses to qualify as CPD.  Or there is a misconception that only technical accounting training (often Financial Reporting) will count towards CPD.
 
Whislt it would be in our financial interests to perpetuate that misconception – as we explained above it is not the way we deliver training.  We regulalry refuse to deliver “tick box” training just so that people can “clock hours” or points.
 
We recommend reading the specifics of your Institute to understand what qualifies as CPD, what qualifies as verifiable and understanding your own deadlines (for example – for reasons known only to themselves ICAEW members’ CPD year runs 1st November to 31st October (despite the membership year being the calendar year…).
 
We can provide certificates of completion for our courses which will help your staff fulfil their verifiable CPD requirements.
 
Some highlighted information is provided below.  This is not intended to be exhaustive so direct links to your membership body are provided below. 

 

BESPOKE

EXPERT

VIRTUAL

ICAEW

Changed from 1st November 2023,  has moved to a more input based system where there is a minimum number of hours required. 

  • Number of hours required depends on your role - you need to assess this against their "Categories"
  • The "Categories" vary depending on if you work in Industry or Practice
  • Range of requirement from 20 to 40 hours, of which 5 to 30 must be verifiable
  • All members have to do a minimum of one hours ethics training (they have free resources on their website)
Click here for ICAEW website

ACCA

ACCA members have had an input based model for a while now. Their model is much more straightforward than the one adopted by ICAEW.

  • 40 hours CPD required of which 21 must be verifiable
  • Some employers are approved which simplifies your requirements
  • Additional requirments exist for ACCA members in Practice
Click here for ACCA website

CIMA

CIMA still has a output model and approach to CPD (did I mean to say grown up?!).   CIMA doesn’t precribe a number of hours – instead asks its members to do as much as they need to remain professionally competent and to advance their career.

  • No mininum hours or verifiable/non verifiable
  • Should still record CPD completed
  • Also has accredited employer schemes
Click here for CIMA website