CPD is becoming more and more a part of the ongoing responsibilities of being a Chartered Accountant whether in practice or in industry. As well as having the choice of using the "inputs" method or the "outputs" method, there are a myriad of options within each of those headings that can sometimes leave people with so much choice that they get to December and struggle to meet their CPD requirements for the year.
One approach that we follow in MKO Partners is that each person is held responsible for their own development and this is assessed (by themselves) in the company of two appraisers. We call this system the IPDF ("Improved Performance Development Framework"), which is our version of a traditional Competency Based Development system. By ensuring the meetings take place, development is monitored and measured twice a year at formal meetings. However it is a crucial part of the development of the individual that they are responsible for their development and that they appraise themselves. We believe that CPD, like all of education, is a door that is opened from the inside.
The IPDF
In order to highlight development areas, we use a competency framework approach. On a basic level, this means comparing your performance against a predetermined category of headings.
The framework is made up of 4 "competency headings". A competency is a skill or knowledge or attitude that a person needs to perform a task. We believe that all professionals need to display behaviours across four key headings of competencies:
Competency Headings Examples of where you appraise yourself
- Core Technical Basic methodologies (Knowledge and Skills) in Auditing, Accounting, Financial Reporting, Information Technology, Corporate Finance, Taxation, Company Secretarial.
- Internal Management How to do things "right".
- Creative Leadership How to do the "right" things
- Client Focus Attracting and maintaining the client, Building the practice, Providing Service Excellence
Within these competency headings are further groups of skills and knowledge called "Competency Sets"
How the IPDF will help in 2009
IPDF meetings that will take place once every 6 months. These are in January and July each year to ensure that the year starts with the focus and ends with the focus as people prepare over the Christmas break for their next meeting.
We believe that at each stage of development, all professional services staff should be able to see what levels of competencies they should be displaying in their behaviours. Any gap in knowledge and skill that exists between their current level and their desired level should be addressed by a "learning intervention". This learning intervention is usually some mix of:
- A formal training course
- Self study
- On the job learning
At this meeting areas for improvement are highlighted and turned into an "A IPDF Personal Development Map" thus formalising how you are going to improve your performance. This then becomes something that can be measured and monitored on an ongoing basis by the individual and the firm. It is up to you then in 2009 to ensure you find suitable learning interventions to ensure you address your weaknesses or to get yourself to the next level (a promotion).
Summary
In summary, the IPDF focuses you on your development and on improving your weaknesses or in allowing you to stretch yourself to behave like those at a level above you so you can prove yourself worthy of a promotion. It allows you to work on intangibles and on "inputs" and on improving their balance sheet of skills. If you allow yourself to focus on your development like this, the CPD will look after itself and should be a matter of simple recording rather that a panic "what do I need to do".