Standards Governing the Continuing Professional Development Requirements
All members of the Institute of Incorporated Public Accountants must meet minimum Continuing Professional Development requirements, in order to function effectively as a professional accountant.
The guidance for the CPD requirements are outlined within International Education Standard 7, which was published by the International Federation of Accountants and the Institute monitors each member’s compliance against this standard.
IES 7 outlines the knowledge needed to function effectively as a professional accountant as all sectors continue to expand and change at a rapid rate. As professional accountants face increased knowledge and skill expectations, continued development of professional competence and lifelong learning are critical if the professional accountant is to meet these expectations.
The Institute has applied the requirements of the International Federation of Accountants, which states that 120 hours in rolling 3 years period are required.
In addition the European Communities (Statutory Audits) (Directive 2006/43/EC) Regulations 2010 (the Regulations) makes it a legal requirement for members to undertake “continuing education in order to maintain his or her theoretical knowledge, professional skills and values at a sufficiently high level.
The Institute of Incorporated Public Accountants CPD Requirements
- The Institute’s current 3 year CPD cycle commenced on the 19th May 2013.
- The total annual CPD requirement is 20 structured hours.
- The CPD year is measured from 1 November to 31 October each year.
- A member may complete up to 60 hours unstructured CPD hours in a three year period. Unstructured CPD may only be included in addition to the achievement of the 20 hours structured CPD hours.
- CPD undertaken with other professional bodies of other appropriate training may be allowable. Documentary evidence of having undertaken that CPD must be provided before it shall be credited.
Evidence may include course outlines and teaching materials, an attendance record, registration forms or confirmation of registration from a provider.
The Institute of Incorporated Public Accountants CPD Arrangements
Omnipro currently provide IIPA members with all their education and training needs in order to satisfy the Institute’s Continuing Professional Development requirement.
Omnipro’s offering provide IIPA members the option to either attend at CPD course (face to face) which are held at locations throughout the country or to participate in an online CPD course.
In addition, the Institute offers its members approximately two in house CPD events each year, which allows members an opportunity to network and interact with fellow members.
You may find the Institute’s CPD declaration form here.