Reminders
CPD 2016 Reporting Requirements for CPABC Members
Reminders
Rule 203 – Professional Competence : A member shall sustain professional competence by keeping informed of , and complying with , developments in professional standards in all functions in which the member provides professional services or is relied upon because of the member ’ s calling .
Minimum CPD requirements As the 2016 Continuing Professional Development ( CPD ) year is quickly drawing to a close , we wish to remind you that you must meet your three-year cycle requirements of at least 120 hours , at least 60 of which must be verifiable , by December 31 . You must also meet the annual requirement of at least 20 hours , at least 10 of which must be verifiable , by December 31 .
Minimum CPD Requirements |
|
Verifiable Hours |
Total Hours |
Annual |
10 |
20 |
3-Year Cycle |
60 */**/*** |
120 |
* CPA , CGAs and CPA , CMAs are already on a three-year rolling cycle . CPA , CAs are transitioning from a fixed three-year cycle to a rolling three-year cycle as discussed on page 29 .
** If you are a CPA , CGA , at least four of your verifiable hours must relate to business ethics . This requirement will have to be met by CPA , CAs and CPA , CMAs by the end of 2017 .
*** New CPA , CGA graduates are required to complete a specific seven-hour Rules & Standards course as a condition of membership before December 31 of the first full calendar year of membership . This seven-hour course may count towards the business ethics requirement for their first three-year rolling cycle .
Verifiable CPD includes learning activities relevant to your professional role , for which there is third-party evidence to verify your participation .
Unverifiable CPD includes personal reading , on-the-job learning , and other “ self-study ” activities relevant to your professional role , for which there is no third-party evidence to verify your participation . rom2015 / istock / Thinkstock
CPD reporting CPD reports are due by January 31 for the previous calendar year . You can log your CPD activities online throughout the year as you undertake them . Failure to complete and report CPD requirements will result in a $ 200 late administration fee and , ultimately , in suspension and cancellation of membership .
CPD audit It is important for you to keep supporting records of your CPD activities for five years after the end of the annual reporting cycle , as CPABC audits a sample of members each year for the preceding three-year cycle . You do not need to submit the supporting records unless requested .
Verifiable CPD sources CPD does not have to be taken through CPABC — it does not even have to be taken in Canada . CPD may be completed through any learning institution , organization , and / or employer . Nor does CPD have to be accounting related — you choose the area of learning . Verifiable CPD only has to be relevant to your particular employment or professional role , business situation , or career aspirations .
CPD reductions and exemptions Please refer to our website at bccpa . ca / cpd for information about CPD reductions and exemptions .
Verifiable business ethics includes learning activities that specifically address business ethics matters that are relevant and appropriate to the member . The hours can be accumulated through various separate activities . For guidance on what qualifies as verifiable business ethics , please refer to our website at bccpa . ca / cpd-ethics-requirement .
28 CPABC in Focus • Sept / Oct 2016