| From 1 January 2005, ACCA will be introducing a continuing professional development (CPD) requirement for members. The new scheme will help ensure that members maintain and develop their knowledge and skills.
In 2003, an extensive consultation took place to provide members, employers, and other stakeholders with the opportunity to shape ACCA's proposals for a new CPD scheme. After collecting and analysing the feedback of some 10,000 members and 400 employers, ACCA is now launching its new continuing professional development scheme - ACCA Realise.
The consultation confirmed that members strongly supported the introduction of a new scheme. Through detailed analysis of the feedback, ACCA's new scheme has been specifically designed to meet the requirements of its members. Key features of the scheme are summarised below:
- Members can complete CPD in one of two ways, either by achieving CPD units through a Unit Scheme Route or via employee development schemes with an Approved CPD Employer.
- Completion of 40 units of relevant CPD for members pursuing the Unit Scheme Route, 21 units should be verifiable CPD.
- A phased approach to participation based on date of entry to membership.
- Compliance with the new CPD scheme is a requirement for all members, including members who work part-time or are semi-retired, practising certificate holders, and those with insolvency licences. The scheme will not apply to those who are fully retired.
ACCA Realise - a CPD scheme which benefits members, employers and the profession
From the consultation, several strong themes emerged which have helped to shape the new scheme. The following highlights the features and benefits sought by members and employers and how the new scheme will address these.
Increased support and provision
ACCA will provide members with increased support when identifying and completing relevant CPD with new products and services. These include:
- an online knowledge library which will bring together a range of resources covering technical updates, relevant articles, and briefing materials
- online learning opportunities that will be widely accessible to members
- a professional development matrix to help plan CPD requirements by identifying knowledge and skills gaps, and highlighting training and development needs.
From the consultation, members asked for a mixture of CPD activities to be recognised, including traditional approaches and
work-based learning activities. Activities that will be recognised include:
- attendance at courses, conferences, seminars, workshops, and briefings
- online learning and learning through multimedia (eg CD-ROM, video, and audio)
- distance and open learning study programmes and further qualifications
- delivering business/technical lectures and presentations
- serving on technical/advisory panels
- mentoring or coaching
- research, reading, and writing of technical and business material
and
- participation in discussion groups and networks.
An achievable and transparent scheme
85% of members who responded to the
online survey indicated that they currently spend three or more days per year on various CPD activities. In the workshops, individuals discovered that they were undergoing CPD through activities that they may not have previously considered as relevant CPD. This shows that many members are already making significant progress towards achieving the CPD requirement.
A 'units-based' scheme will provide clarity and guidance for members when demonstrating their CPD.
A 'carry-forward' principle has been included in the scheme in recognition of the fact that professional development can take place during intense learning periods, for example, when studying for an additional qualification like an MBA. The application of this learning will then be applied in the workplace. During this period of application, demonstration of further CPD will be unnecessary.
Full support and assistance in the completion and submission of CPD returns will be provided, including choice of
paper-based or electronic submission.
A fair scheme for all - introduced in phases
Completion of CPD will apply to every member. The decision to make CPD a requirement for all was supported by members that took part in the consultation process and endorsed by ACCA's Council. Members, regardless of their position, need to be competent, with skills and knowledge that ensure they can work effectively. Therefore, all members who have a work role, including those who are semi-retired or work part-time, are required to meet the full CPD requirement. A phased approach to implementation will allow ongoing consultation with members to ensure the continuing enhancement and development of the scheme.
The date an individual was admitted to membership will determine when he or she will be required to comply with the new scheme. However, members can opt into the CPD scheme before the date it becomes a requirement and ACCA encourages early adoption into the scheme for members in phases 2 and 3. The table below sets out a schedule of compliance.
| Phase 1 |
2005 -
members admitted since 2001 |
| Phase 2 |
2006 -
members admitted since 1995 |
| Phase 3 |
2007 - all remaining members |
Flexible approach
ACCA members work in a diverse range of sectors and countries, and at varying levels of seniority. The scheme is flexible to ensure ease of compliance for all members. Members can complete continuing professional development in one of two ways, either by the achievement of CPD units through the Unit Scheme Route or via employee development schemes with an Approved CPD Employer (see Table 1).
Table 1: Routes to completing CPD
| Unit Scheme Route |
Approved Employer Route |
How does it work?
- The achievement of CPD units through various learning and development activities.
|
How does it work?
- Recognition of members' work-based learning and performance at work. Members who participate in an approved
employer's development scheme will
automatically meet ACCA's CPD requirement.
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Key features and requirements
- Achieve 40 units of CPD per annum (one unit = one hour spent on a learning/development/training activity).
- 21 of the 40 units need to be verifiable, the remainder can be non-verifiable. Verifiable CPD is when involvement in a learning/training activity can be proven or the benefits of participation can be demonstrated; for example attending a course. Non-verifiable CPD refers to learning/training activity that is difficult to provide evidence of involvement or tangible evidence of learning; for example general business reading.
- Carry-forward concept allowing members who achieve 40 units of CPD to carry excess verifiable units to the following year. A maximum of 21 excess verifiable units can be carried forward as a credit.
- Completion of a simple annual return to ACCA each year end (either online or paper) to demonstrate CPD requirement has been fulfilled.
- Retention of records and proof of CPD activity for a three-year period.
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Key features and requirements
Employers who want to achieve approved CPD employer status will need to demonstrate to ACCA that their training programmes, for all ACCA members they employ, will:
- evaluate learning/training needs
- provide opportunities for learning and development
- contain a performance review process to ascertain if improvement and development has taken place and that individuals have benefited from their learning or training activity
- include processes/systems to document and monitor learning activity.
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Further details
The scheme will help members to maintain competence, and identify and support the maintenance and development of relevant knowledge and skills. In future articles, ACCA will publish further details of the scheme, including how special circumstances such as long-term ill-health might affect participation in ACCA Realise and how the scheme might recognise CPD which is undertaken with other accounting bodies. There will be regular communication throughout the year with members and other stakeholders to ensure that they are fully informed about all aspects of the new scheme. Students are encouraged to follow developments to the scheme in student accountant and to regularly check ACCA's CPD microsite - www.accaglobal.com/cpdrealise - for all the latest updates.
Changes for practising
certificate holders
Practising certificate holders and those with insolvency licences will also be required to comply with the new CPD programme and will be advised through the certificate/licence renewal exercise of the specific dates and changeover requirements. The requirements will be broadly the same as for other members. However, practising certificate and insolvency licence holders will have to comply with different monitoring arrangements in order to reassure the public that appropriate levels of quality assurance and high ethical standards are achieved by ACCA members involved in public practice. There will also be a continued requirement to participate in technical CPD training.
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