What activities can I record in order to complete my CPD requirements?
Any activity that increases your knowledge, skills and ability to do your job can be included in your CPD records. To gain as much value as possible from your CPD activity, it is recommended to focus on its relevance to your role and your career development plan.
You can include events you have attended through CPA Australia, as well as most forms of learning or study that have contributed towards your professional career.
You need to be able to demonstrate that the activity increased your ability to do your job. The activity does not need to:
- be about accounting or finance
- be a CPA Australia activity
- take place in Australia.
Record all CPD activities to ensure you are completing the 120 hours of CPD per triennium, with at least 20 hours undertaken each year, needed to meet your obligations.
Working for a Recognised Employer Partner
If you work for an employer who is a CPA Australia Recognised Employer Partner, you are provided with a simple alternative method to demonstrate your CPD obligations.
CPD for members who hold a statutory registration
Members are required to meet the CPD obligations relevant to their statutory registration to ensure they are acting with sufficient professional competence in their specific field.
Statutory registrations include but are not limited to:
- company auditors
- company liquidators
- tax agents
- trustees in bankruptcy
- financial services licensees or representatives
- self-managed superannuation fund (SMSF) auditors.
CPD for self-managed superannuation fund (SMSF) auditors
All members who audit SMSFs must complete at least 30 hours of relevant professional development activity in each rolling three-year period, comprising the following as a minimum for each category, with the balance made up from any of these categories as necessary:
- eight hours of superannuation training
- eight hours of financial or compliance audit training
- four hours of financial accounting training.
A maximum of 10 hours of the minimum 30 hours required may be met through relevant reading, video or audio resources.
Competency requirements for auditors of self-managed superannuation funds (PDF)
CPD for CPA Australia specialisations
All members who either hold a Financial Planning Specialisation or SMSF Specialisation are required to undertake their CPD obligations per the By-Laws and Specialisation Guidelines.
Members will be expected to undertake at least 50 per cent of their ongoing CPD in areas relating to their specialisation to retain their specialisation.
Meeting your CPD requirement
Some examples of how you can meet your requirements and pass your CPD review:
Passing a professional level segment
Winnie is an Associate member doing the CPA Program. Last year she passed Financial Reporting. Passing a professional level segment is 120 CPD hours. This will automatically update in her CPD Diary.
Working for a Recognised Employer Partner
Rajinder is a CPA who has worked as an accountant for AB Accounting Malaysia, a CPA Australia Recognised Knowledge Partner, for the past four years. Rajinder can claim 40 hours CPD per year for working at a Recognised Employer Partner.
Rajinder entered these details into his CPD Diary:
- Code L – 40 hours per year x three years, 120 hours for his three-year period.
Undertaking appropriate developmental activities
Phil is a CPA for a small consulting company. He reviewed and researched possible business solutions for the company to improve business efficiencies and reduce costs. He then implemented a company restructure based on the solutions.
Phil entered these details in his CPD Diary:
- Code F – 40 hours per year x three years, 120 hours for his three-year period.
Participating in various activities
Jack is a FCPA who works for a small exporting business. He is a mentor to an Associate member, he regularly reads INTHEBLACK. His company has expanded their client base to China so Jack started taking Mandarin lessons.
He updated his CPD Diary with these activities:
- Code K – Mentoring 10 hours per year x three years
- Code J – Reading INTHEBLACK 10 hours per year x three years
- Code B – Courses – Mandarin 50 hours for one year.
CPD offered by CPA Australia