CPD for Practitioners
Members in Practice and Members working in Professional Offices are required to complete 120 hours over a 3 year CPD cycle of which 75 hours are structured and 45 hours are unstructured CPD. Please find details below on structured and unstructured CPD.
- Minimum in any one year: 30 hours, of which 15 hours have to be structured training.
CPD compliance requirements are outlined in Bye Law 8
Core Competencies for Practising Certificate Holders
40 hours of the 75 structured CPD hours must be completed from any combination of the following six areas over a three year CPD cycle:
- Financial Accounting
- Law & Regulation
- Professional Ethics
- Practice Management
January 2023 statutory auditors must complete 20 hours of this 40 hour core competency requirement in the following areas;
- Financial Reporting
- Law and Regulation
Additional requirements apply to statutory auditors. For full details please click here
Members who are authorised as Investment Intermediaries
should refer to the Investment Business regulations for their CPD requirements.
Structured CPD includes all CPD which has learning as the primary objective and which is measurable and verifiable.
In order for Structured CPD to be accredited it must be measurable and verifiable.
There are two forms of Structured CPD - directed study and self-directed study.
1. Directed study:
This includes formal programmes designed with learning as the primary objective and requires at least one of the following;
physical attendance at group learning activities, for example lectures, presentations, or participation in technology assisted learning activities (including online, CD, audio or video training courses), or independent assessment of learning, for example the submission of assignments, research papers or examination. Directed Study can be measured in terms of the hours spent on the learning activity and can be verified through attendance records, examination results etc.
2. Self-directed Study
This includes independent study with learning as the primary objective, including various forms of self-directed learning such as research (with published outputs), writing of articles, lecturing and, in specific circumstances, significant on-the-job training. In all cases, this form of study must have measurable outputs which can be verified by an independent and competent source.
Self-directed study can be measured in terms of the hours spent arriving at an outcome that can be assessed and verified by an independent and competent source.
Unstructured CPD can be defined as any form of informal learning or development of day to day working skills achieved through self-study and/or informal training.
Unstructured CPD can be measurable but is not verifiable.
The following is categorised as Unstructured CPD:
- Lecturing on certificate, diploma and technician programmes.
- On-the-job training which consists of informal briefings carried out by other staff members.
- Technical reading.
- Attendance at Practice Network Groups.