Effective January 1, 2008
Mandatory Continuing Professional Development (CPD)
Minimum Hourly Requirement
Applicability / Waivers Policies
PD Learning Activities Policy
Reporting Policy
Documentation / Verification Policies
Failure to Meet the PD Requirement
Reduced PD Course Fees
Sample Learning Plans
Questions?
The need for professional development is based on the following two principles:
- It is a fundamental principle of any profession that its members perform their services with integrity and care, and accept an obligation to sustain their professional competence by keeping informed of, and complying with, developments in professional standards.
- Since Chartered Accountancy is a self-regulated profession, the Institute has additional obligations to protect the public interest and to ensure that its members comply with the Rules of Conduct.
Accordingly, not only do CAs complete continuous learning as part of their obligation as professionals, the Institute fulfills its requirements to society by establishing appropriate measures to ensure that such continuous learning has, in fact, been completed. Further evidence of self-regulation to protect the public interest can be found in the Institute requiring members in public practice to maintain adequate levels of professional liability insurance and to submit to a professional standards review program.
Mandatory Continuing Professional Development (CPD)
Commencing in 2001 Nova Scotia CAs were required to affirm their personal commitment to continuous life learning by meeting a minimum PD standard. The standard required that:
- Members must complete a minimum number of hours of PD learning each calendar year; and
- Members must file with the Institute on an annual basis a PD report.
The standard is contained in Bylaw 70 of the Institute’s bylaws. Beyond setting forth the requirements, the Bylaw also empowers the Professional Development Committee to:
- make policies relating to:
o what qualifies as professional development;
o the manner of reporting; and
o the members or classes of members who may be granted relief from the requirements.
- monitor compliance.
- take action in cases where a member had not completed the necessary minimum hours.
Policies as approved by the Professional Development Committee are contained in Bulletins and cover the following subjects:
The policies adopted by the Professional Development Committee are subject to review and change from time to time.
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Minimum Hourly Requirement
Until January 1, 2008, the minimum number of PD hours for each calendar year was 25 hours. Commencing January 1, 2008 the minimum number of hours changed to a minimum of 20 hours of PD learning each calendar year as well as 120 hours for each 3 year period (60 hours of which must be verifiable). Each 3 year period is fixed and for the next 6 years the periods are as follows:
- Initial period – January 1, 2008 to December 31, 2010
- Subsequent period – January 1, 2011 to December 31, 2013
The change in the minimum hourly requirement was made in order to bring the Institute more into line with the requirements found within the profession across Canada and internationally.
In reality, each member ultimately must determine the appropriate amount of PD learning that is required to remain proficient in his or her chosen field. For some members, rapid and significant changes in their areas of focus may require significant amounts of PD learning, likely exceeding 20 hours per year. Individuals changing their employment or job responsibilities may be required to learn new skills and knowledge, or update themselves in areas where they have not needed to remain competent.
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Applicability / Waivers Policies
Bylaw 70 requires all members to meet the minimum requirements, unless they are exempted by the Professional Development Committee either on an individual basis or on the basis of falling within a specific class of members.
Individual exemptions
The Professional Development Committee continues to consider the granting of full or partial exemption to individual members where warranted by the particular circumstances. Any member who wishes to have her or his individual circumstances considered by the Professional Development Committee should submit a request in writing.
Class exemptions
Prior to 2008, full or partial exemptions were granted to classes of members who received relief from the payment of annual dues (this included new members, retired and life members and members who were not in the workforce on a full-time basis).
Commencing January 1, 2008, the classes were effectively reduced to:
- Retired members; and
- Members on leave from the workforce for personal health or family care-giving reasons.
For purposes of new members who join during a reporting cycle, transitional rules have been introduced.
NOTE: The Institute is currently considering the desirability of excluding from the class exemptions those members who are engaged in activities where it is reasonable to believe that the public is relying on the members’ CA skills.
For further information see CPD 2008 – Questions / Answers concerning changes impacting: New Members / Members who receive Full or Partial PD waivers in 2007 calendar year.
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PD Learning Activities Policy
Given the diversity of careers and responsibilities, each CA is best qualified to determine what type of PD learning is required to maintain his or her professional competence. The key is that the activity should develop new or existing competencies that are relevant to the member’s professional responsibilities and growth.
All PD learning activities need not be undertaken through formal courses or seminars, but they must be identifiable and quantifiable.
Commencing January 1, 2008, members are required to have a minimum of 60 hours of “verifiable” PD learning study during each 3 year reporting period. In order for study to be viewed as “verifiable”, it is necessary that there be demonstrable evidence that the activity was undertaken or completed.
| See Bulletin 2 for specific details and examples of “verifiable” learning activities. |
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Reporting Policy
As in the past, members are required to submit an annual PD Report to the Institute, which reports are due on May 1 of each calendar year. Present capabilities require that the report be made in writing and, for these purposes, the Institute provides the form of Report to the members at the same time as the annual fee invoices are sent to the members.
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Documentation / Verification Policies
Members are required to maintain adequate records to support their annual PD report, but are only required to submit these records upon specific request.
Commencing in 2008, members are required to maintain a written CPD Log for each calendar year together with appropriate supporting documentation in relation to the reported verifiable hours. Appropriate documentation would support not only the hours spent on the activity but also provide some demonstrable evidence that the activity had been undertaken.
Generally speaking, no specific format is required for the CPD log although it must contain, at a minimum, the information contained the Institute’s CPD Log. Beyond that specific requirement, many members may find that records already maintained for in-house purposes or as a condition for membership in another organization are sufficient.
In the future the Institute will introduce verification processes for purposes of verifying the accuracy of the members’ PD Reports or the underlying basis for claiming a waiver. Members are required to maintain the required documentation for a period of time and be in a position to provide it to the Institute, upon request.
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Failure to Meet the PD Requirement
Members who fail to meet the annual or 3 year period minimum PD requirement will be referred to the Professional Development Committee. Such members will be provided with an opportunity to provide an explanation and, if necessary, to furnish an acceptable plan of how they will comply in the future. The Committee’s objective is not to be punitive in nature, but to be supportive of the members’ efforts to pursue continuous learning.
If deemed necessary, the Committee may refer a member to the Professional Conduct Committee for further action.
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Reduced PD Course Fees
The Institute recognizes the overarching need to have its members participate in PD learning activities. The policies adopted in 2008 are more inclusive from the point of view that more members must now meet the minimum PD requirements. It is recognized that the Institute can assist particular classes of members to meet these requirements. For that reason, the Institute will reduce the fees otherwise payable on certain courses in an effort to facilitate a member’s participation.
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Sample Learning Plans
Regardless of one’s vocation, there may be perceived challenges in being able to meet the PD learning requirements on an ongoing basis. To provide the membership with some further information concerning suitable learning activities, Sample Learning Plans are available for members involved in the following areas:
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Questions ?
Please contact the Director of Regulatory Affairs at the Institute (902) 425-3291.
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