In the ever-evolving field of accountancy, maintaining professional competence and delivering high-quality services are paramount.  Chartered Accountants Australia and New Zealand (CA ANZ) has established requirements for Continuing Professional Development (CPD) through its regulation CR 7 Continuing Professional Development (CR 7).  

The primary objective of CR 7, is to outline the minimum CPD requirements for Members and Affiliate Members of CA ANZ. These requirements are designed to help Members maintain their professional competence, provide high-quality services, and uphold public trust in the accountancy profession.  Additionally, compliance with these requirements promotes adherence to relevant ethical standards.

Minimum CPD Requirements

The CPD hourly requirements vary based on the Members’ designation (see below), however the period for which CPD is calculated is the same regardless of designation.  Members must record their CPD hours over a triennium which is a period of three years. 

Chartered Accountants (CAs, FCAs) and Affiliate Members must complete 120 hours per triennium (90 hours verifiable CPD), with at least 20 hours of verifiable CPD completed annually.

Associate Chartered Accountants (ACAs) need to complete 90 hours per triennium (67 hours verifiable CPD), with at least 15 hours of verifiable CPD completed annually.  

Accounting Technicians (ATs) are required to complete 60 hours per triennium (45 hours verifiable CPD), with at least 10 hours of verifiable CPD completed annually.

Specific Requirements

The table below sets out some of the specific requirements relating to ethics training, on the job training and CPD for engagement partners responsible for audits of public interest entities and licensed auditors (Audit Partners). 

Verifiable Evidence

To be verifiable CPD there must be verifiable evidence of its completion.  The following are examples of ways in which verifiable CPD can be evidenced:

• Attendance records, certificates of completion, registration forms, copies of course materials, or confirmation of registration in an activity, invoice or similar proof of attendance
• Independent assessment by a competent individual that an activity has occurred
• Confirmation by an instructor, mentor, supervisor, or tutor of participation in an activity, such as a completed on-the-job CPD form
• Confirmation by an employer of participation in an in-house program, including firms' CPD logs or calendar records
• Published research work
• Confirmation by other committee members (or Secretariat) of participation on a Technical Committee.

Exemptions

The minimum CPD requirements are based on a 37.5 hour working week over a 12-month period.  CA ANZ provides exemptions under specific circumstances as detailed below and they do not require CA ANZ approval unless made on the basis of exceptional circumstances. A Certificate of Public Practice (CPP) holder or an Affiliate member are not entitled to a CPD exemption unless it is on the grounds of exceptional circumstances as CA ANZ considers that these categories of membership should maintain the normal minimum level of CPD requirements to be able to competently act as principals in practice responsible for providing services to the public for reward.

• Full Exemption: Members who have permanently withdrawn from the workforce, including from providing services on a voluntary or pro bono basis are not required to complete CPD.
• Pro-rata Exemptions: Members who are absent from employment because of parental leave, unemployment or illness, or working part-time/casually.
• Exceptional Circumstances: Exemptions may also be granted by the Board of CA ANZ for extraordinary situations, such that completion of the minimum CPD would result in particular hardship or difficulty to the Member.

Record-Keeping and Compliance Monitoring

All Members, regardless of the CPD systems maintained by their employers, must retain CPD records for six years.   These records need to include details of activities, dates, providers, relevance, and evidence of completion.  Members should ensure that if their records are kept on their employers’ data bases, that they extract a copy before changing employer.  

CA ANZ monitors member compliance with CR 7 through Members’ annual notifications which are completed during subscription renewals and via CA ANZ’s CPD compliance program.  This program selects a percentage of Members whose CPD records are requested for review.  Non-compliance with the requirements of CR 7 may result in exclusion from Membership.

Using My CA for CPD Management

We encourage the use of CA ANZ’s Member platform, My CA to record your CPD in a centralised location. This platform automatically updates for any CA ANZ learning activities but also facilitates the recording of all forms of CPD regardless of provider and allows you to upload verifiable evidence.  My CA enables CPD records to be downloaded into Excel for your own record keeping or submission to other bodies as required.  A further benefit of using My CA, is that it automates much of the CPD monitoring and compliance process, making it quick and easy to see how much CPD you have completed and how much more you need to do.   Upon selection for CPD monitoring, CA ANZ can review available records on My CA and if compliant, will notify Members that they were selected and compliant with their CPD obligations; essentially automating the process.

Key Definitions

Understanding the terminology used in the CR 7 is crucial for compliance:

• CPD (Continuing Professional Development): Means continuing professional development, which is the learning and development that Members undertake to develop and maintain professional competence to enable them to continue to perform their roles competently. 
• Verifiable CPD: Means CPD activities for which there is Verifiable Evidence to support their completion. 
• Verifiable evidence: Means evidence that is objective, and capable of being proven and retained in either written or electronic form.
• Non-verifiable CPD: Means CPD activities that are independent and informal including, for example, reading technical or professional articles, mentoring discussions and collegial discussions where learning is fostered. 
• Triennium: Means a period of three years commencing as follows; 
  (i) for a Member resident in New Zealand and admitted prior to 1 July 2012 their first triennium commences on 1 July 2012, 
  (ii) for all other Members, regardless of residence, admitted prior to 1 July 1994 their first triennium commences on 1 July 1994,
  (iii) for all other Members their first triennium commences on 1 July of the financial year following the Member’s date of admission.

Questions or Concerns?

By adhering to CA ANZ’s CPD requirements and referring to Regulation CR 7 for further information, CA ANZ Members can ensure they remain at the forefront of the accountancy profession, deliver exceptional services and maintain public trust.

CA ANZ’s professional standards team is here to help you navigate your CPD obligations.  Contact the professional standards team via email at [email protected].