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As members approach the time to make this year’s CPD return, Sara Llewellyn, ACCA’s Learning & Development Policy Manager, talked to Eleanor Shakeshaft - an ACCA member and sole practitioner – about her approach to CPD.

About Eleanor

Eleanor started out in accounts around 20 years ago.  Quickly realising that she enjoyed accountancy, she tackled business studies, the AAT and then embarked on the ACCA qualification.  After a career break, Eleanor returned to work in 1997 - this time choosing to be self-employed.  This gave her the impetus to progress to full qualification in 1999, which she followed up by gaining her practising certificate. Eleanor has recently been focused on building up her business to a full-time concern, and is now exploring the possibilities of developing and expanding it even further.

The concept of verifiable CPD

As a practising member, Eleanor has of course been undertaking CPD since long before the launch of the enhanced CPD policy, ACCA Realise, in January 2005.  One of the major changes for practising members has been the move from structured CPD to verifiable CPD.  “It did take me a while to absorb the concept of verifiable CPD and how much more flexible it is than the old ‘structured CPD’ approach.  In fact I didn’t really realise how flexible the policy it was until I went to an ACCA network event in Birmingham.  They were talking about CPD and the different ways of achieving it through ACCA Realise.  It was there that I learned I could also gain CPD through learning at work and a range of other methods, and that verifiable CPD doesn’t only include events with a formal attendance record such as courses, training and seminars.”

Keeping technical skills and knowledge up to date

As a practising member Eleanor is very conscious of her duty to her clients.  She states, “at the end of the day I am an accountant, and I am asked by members of the public to do their tax returns and so on.  They are putting their trust in me and it is absolutely essential that I keep my technical knowledge up to date – so that’s the key focus of my CPD.”  In order to do this Eleanor faces the same challenges that many sole practitioners face: how to fund her technical learning activity.  “This year, as a business owner I have gained funding towards my learning and development from Business Link.  I’m currently considering using the funds I’ve been awarded to sit the ACCA diploma in international financial reporting.”

Eleanor clearly enjoys the challenges of studying for an additional qualification: “Last year I gained a taxation qualification with the ATT.  Going back to study allows me to focus on the areas which have been updated since I qualified with ACCA in 1999.”  However, Eleanor does also undertake other methods of learning, reading accounting&business, accounting web and taxation web regularly, and researching various training companies which can offer her updates in general areas of accounting and tax, “in particular Smart Training who provide good all round CPD events”.  Eleanor also enjoys the ACCA training events e.g. attending a Saturday conference for an “all in one hit”. 

Developing a business and utilising networking

As well as keeping her technical accountancy knowledge up to date, Eleanor has to stay focused on marketing and developing her business in order for it to be a success.  She has found networking extremely important as a sole trader.  “I go to ACCA network events, which keep me in touch with other ACCA members. I joined the 2020 group for a year which I found very useful as an accountant; they helped me to look at areas such as soft skills and marketing myself and my company.” 

Eleanor also networks locally through the Solihull Business Club.  “This has been very useful for my business.  For example, that’s where I learned about the Business Link funding.  It’s basically a network group with an array of different types of business represented.  We get the opportunity to share business experiences and ideas.”  As well as this primary benefit, there are additional benefits for Eleanor.  “You meet people through these events who might be offering a service that is related to yours.  There are links you can make when clients need more than one expert - for example if they are selling a business.  If I can refer a client to another business, that business is more likely to refer back to me on another occasion.  It’s basically a great way to get my face known and develop good contacts.”

As a member of the ACCA West Midlands Panel, Eleanor is able to input on courses and other ACCA activities in the West Midlands area.  “I really enjoy the role and being active in the local ACCA community.  It’s not only useful in terms of taking on board what members want, and using this to help shape the course agenda –  it’s also the social aspect and I enjoy the meetings.”

Eleanor can see the benefit of ACCA recognising business learning as well as technical learning.  “I do think it is useful that ACCA acknowledges that networking and learning general business skills can count as verifiable CPD.  There are also business skills which relate directly to practising – for example, I have found the ACCA practice manager events useful.  Through one of these, for example, I have been able to learn about and make use of software which aids my ability to deal with clients efficiently and effectively.  However, as a practising accountant, I mainly keep evidence of my technical learning.  I am sure that – in my case – this is the learning ACCA will be most interested in as it’s absolutely key to my role.  It is worth bearing in mind, though, that as I expand my business my role may well change significantly.  In the future, for example, I may have much less to do with preparing accounts – I will instead need to be aware of the work but be focused on top level strategy.  The flexibility of the CPD policy acknowledges that careers can change and allows for an individual’s learning focus to change.”

Finally - how much CPD is enough?

Eleanor is extremely comfortable with the minimum requirement of the unit route (40 units of CPD per year, 21 of which must be verifiable).  ““Rather than thinking about the right amount for ACCA – I think about the right amount for my role.  I find that the activities I do anyway to keep technically up to date translate into more than enough to meet the ACCA requirement.  In fact I am exceeding ACCA’s requirement each year and, while it is nice to know that there is a carry forward mechanism, I probably wouldn’t need to use it.  I think that if, as a practising member, you are keeping up to date with the technical skills you need to do your job, by default you are going to be meeting the requirement.”

For more information, go to www.accaglobal.com/members/cpd

what is verifiable CPD?

No matter what your learning activity is, if you can answer 'yes' to the three questions below, you can record your learning activity as verifiable CPD.

1. Was the learning activity relevant to your career?
2. Can you explain how you will apply the learning in the workplace?
3. Can you provide evidence that you undertook the learning activity?

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