Why is CPD changing?
Against a backdrop of intense scrutiny of the accountancy profession and increased regulatory expectations, ICAEW has revised its CPD Regulations. The changes give greater clarity on the amount of CPD that you should be doing to ensure you have up-to-date professional, technical, and business skills.
Who is affected?
If you are an ICAEW member or someone regulated by ICAEW for certain activities then you must comply with the CPD Regulations if you undertake accountancy or finance work or reserved or non-reserved legal services.
You will also be subject to the CPD Regulations if you are a company director, a trustee, or hold any role with an equivalent level of legal or financial responsibility.
ICAEW member firms, and firms granted a dispensation to use the description 'chartered accountants', are also within the scope of the CPD Regulations. Find out more about new CPD responsibilities for firms.
From 1 November 2023, everyone covered by the regulations are required to complete each year:
- a minimum number of CPD hours,
- a number of CPD hours that are verifiable, and
- a minimum of one hour's ethics training aligned to the ICAEW Code of Ethics.
We have created a CPD self-assessment tool to help you understand how much CPD you must complete each year, as well as a new online CPD record to track your requirements and progress. A new ethics CPD course has been created to make it easier for members to comply with this additional requirement.