Continuing Professional Development (CPD) is essential for finance professionals to learn new skills for roles which come with more responsibility.
It is the process of continually updating and expanding one’s knowledge, and abilities to stay current with industry developments and best practices.
The benefits of CPD include keeping your technical skills up to date, staying informed of current topics, accessing ongoing personal development, and improving management skills. It enables people to retain a consistent set of high quality, relevant skills and knowledge throughout their professional life.
All members of the IAB are required to complete, a minimum of 30 hours CPD each 12 months (that coincides with the certificated year). CPD records should be maintained individually and uploaded annually with your membership renewal application.
What are CPD points?
CPD points are accrued at one point per hour of learning throughout the year. The 30 points should be made up of a minimum of 10 verifiable points, unless specifically agreed with the IAB Compliance Department.
Gaining knowledge directly relevant to the professional work of the member whether employed or self-employed, usual by planned participation in a course, event or other activity to meet an identified development need.
- An accredited Branch/District Society meeting of a nationally recognised accountancy/bookkeeping organisation.
- Courses run by HMRC.
- E-learning – such as those provided by accountingcpd.net (see the information below for links to E-learning products).
- Paper or internet based research.
- Academic study, e.g. an open learning or relevant to the work of the member. degree course, courses on a topic relevant to the member or further
- Familiarisation with new software related to the preparation of accounts/payroll.studies for professional exams.
Assimilating knowledge of broad interest to keep abreast of current trends directly or indirectly relevant to the professional work of the member.
- Preparation and presentation of lectures and seminars.
- Technical reading (manuals, periodicals, magazines, newsletters, websites etc).
- Paper or internet based research, on issues that arise from queries at work.
- Technical discussions with colleagues and preparation of complex work.
- Attendance at a course not directly relevant to the work of the member.
How do I record CPD points?
A portfolio of evidence should be maintained showing receipts for learning materials/courses and containing attendance or completion certificates to be made available in the event of a Compliance visit. Where such authentication is not available i.e. after discussion with colleagues or preparation of complex work, an appropriate note should be made.
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