CPD case study

Meet Tyrone

Tyrone Jackson qualified as a member in 1982 and was appointed audit partner in 2009. He retired last year having worked 40 years in practice. He has recently taken on a non-executive director (NED) role at a medium-sized online retail company. This is currently Tyrone’s only appointment. 

Tyrone's CPD requirements

Tyrone is unclear whether the revised CPD Regulations are applicable to him given his retirement from practice. He therefore works through the initial questions within the CPD self-assessment tool. Although Tyrone has retired from the firm, he continues to work and is not fully retired. In particular, Tyrone holds a statutory director position at a company, and therefore he is within scope of the CPD Regulations.

Tyrone works through the CPD self-assessment tool to identify which CPD category is applicable to him.

As Tyrone is a working as a member of the management board of an organisation that is not a Public Interest Entity or large (per the Companies Act), and is not a pension fund, charity, or public sector body, he is in not-in-practice CPD category 3. Tyrone is therefore required to undertake 20 hours of CPD annually, of which five hours must be verifiable.

Tyrone is working in a paid capacity although the same hours requirement would apply if he were undertaking a similar role in a voluntary capacity.

Tyrone is required to keep records and make them available to ICAEW on request.

Tyrone's CPD activities

Tyrone engages in CPD activity through a network for NEDs. This network, hosted through a large firm, also provides verifiable evidence of Tyrone’s CPD activities and engagement in relevant events (12 hours).

Tyrone is also a member of several ICAEW faculties and communities (including: Audit and Assurance, Corporate Reporting and Corporate Governance) Tyrone engages in events, which during the year have included webinars on ESG, improving ethnic diversity of workplaces and financial reporting updates (four hours). Tyrone also accessed a range of relevant learning resources including through ICAEW’s website during the year (six hours). Finally, he completed one hour of ICAEW’s Ethics CPD course.