How Are CA/CPAs Meeting Their CPD Hours?

For those with a CA/CPA, how are individuals meeting your CPD hour requirements as required by the program?

I recently completed my CA in the industry (instead of the usual Big4/mid-tier). Part of it requires 120 hours every three years, but most of it can't come from directly working full-time. I'm not directly working in accounting, but still want to keep my CA alive given the effort it took to get it.

How are you guys getting collecting your hours? Is it even worth tracking, and how commonly would CA request to check your log-books?

Comments

  • As a CPA I need to complete 120 hours per 3 years, ie, 40 hours a year. I'm allowed max 10 hours a year for reading, same for mentoring. I make up the balance by attending in-house learning and going to overseas conferences (pre-covid) or local conferences. See: https://www.cpaaustralia.com.au/career-development/continuin… Imagine CA website would have something similar.

    My conferences / in-house seminars are in my calendar so I keep track that way. So can readily export to a spreadsheet if needed. Have been audited once in 10+ years (fingers crossed).

    A lot of the Big 4 have finance / accounting / tax related seminars every few months. See if you can get on their subscription list and go to those ones (they should be free).

    • Minimum 20hrs per year but 120hrs over 3 years CPA link

      Basically the 20hrs then a conference once every 3 years to make up the difference.

      Lots of professions have similar CPD requirements.

  • +1

    Congratulations! I have just applied for full membership and will hopefully get mine soon.

    CPD requirements have changed (increased) recently so I would like to think that they are going to be more vigilant on CPD and record keeping. That being said, I have spoken to a few other CA's who seem to think that audits whilst not frequent, do exist. My mentor got audited last year in her 6 years of being a CA.

    Whilst keeping up to date is your prerogative, I personally err on the side of caution and complete the log book as it is not that hard. The CA/CPA conferences are a good source of CPD and there are so many free resources in MyCA that give you CPD and are recorded digitally for you.

    Hope this helps somewhat.

  • why are you a CA if you dont work in accounting?

    • +10

      Because a BA doesn't pay and AA don't have alcohol…

      • +1

        LOL

    • I wish i knew myself. I thought I would like accounting, but in the end prefer Finance, which is more the career path I've started heading towards.

  • +1

    CAs get free access to LinkedIn learning so that might be a good option?

  • +1

    Depends on the industry. I have staff with 10+ years as CPA and haven't been audited. I get audited every 3 years by both the TPB and CPA (partner of a firm). Always a fun day scrambling for info.

    To get to the 120h and not in the industry, you're going have to be creative or spend/waste some dollars.

    Free
    Various government agencies provide free CPD updates.
    Audit - ANAO (i fell asleep in one)
    Tax - TPB, ATO, Treasury
    Accounting - Treasury, Finance (new FMAs)
    State Governments - heaps there in dept of finance etc.
    International - OECD harmonization project stuff etc.
    IT/Accounting related - Xero/MYOB/Blackline (heaps of free stuff there)

    Cheapest cpd-hour/$
    CPA courses tend to be easier than CA, and slightly cheaper
    Tax institute
    Anything accounting / management related?!

    Expensive
    Conference (good excuse to travel pre-COVID)
    Tailored CPD courses etc.

    Other option - see if you can park your registration? I don't think you can, but hey, might be possible. I know CPA is very inflexible and they want photos of the birth if they're going to give you mat leave relief.

    • Awesome, thanks for the insight.

    • +1

      CPA has higher failure rate than CA

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