Recent amendments to the Institute’s CPD Regulations have facilitated simplification of how members confirm compliance with CPD requirements and the Institute’s Code of Ethics[1].
Henceforth, by paying the annual membership subscription, or permitting this to be paid on their behalf, or otherwise renewing their membership, members are automatically acknowledging CPD compliance and awareness of Code of Ethics obligations.
As a consequence, members generally will no longer have to submit an annual declaration (the Individual Annual Return) in respect of these matters. Further information on the Institute’s CPD requirements is on the CPD Support & Guidance webpage. Documents on this page also sets out circumstances in which members may apply for an exemption from CPD requirements; there are no changes in this regard. Members who have exemptions in this regard are considered to be compliant with the Institute’s CPD Regulations as they are availing of a waiver in accordance with the CPD Regulations.
Similarly, there is no change to the Institute’s current approach to substantive testing of CPD compliance whereby a sample of member CPD records is selected for review on an annual basis.
Responsible Individuals (statutory auditors) in audit firms registered by the Institute remain subject to a separate CPD compliance regime based on company law and IAASA requirements.
If anyone has any further queries in relation to the above, please contact us at professionalstandards@charteredaccountants.ie.
[1] Additional requirements continue to apply to members holding Practising Certificates, and who are Responsible Individuals (statutory auditors).
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