Professional Development and Accreditation

For accountants, Continuing Professional Development (CPD) is a key element of the role. There are many types of CPD for accountants – and CPD requirements are varied.

However, staying up-to-date in terms of professional development also includes key things like accreditation rather than simply CPD requirements. Professional development and accreditation are vital for accountants who want to remain at the forefront of their profession, and to gain both client and industry trust and respect. What’s more, they will also serve you well should you wish to change jobs in the future, demonstrating your commitment to improvement to future employers.

Understanding CPD Requirements for Accountants

Professional bodies within the accountancy sector set their own CPD requirements for their members – and these will vary from body to body. However, all of them will require members to amass a certain number of hours or points through a range of approved learning opportunities.

Typically, this will be set at around 20-30 hours of learning each year. This learning should be recognised and accredited by the body in question. It can take a number of formats: from face-to-face or online courses to seminars, workshops, conference attendance and qualifications – and can cover topics ranging from accounting and finance-specific subjects to the development of soft skills that will help an individual to progress in their career.

Each piece of relevant learning that you undertake should be added to your CPD portfolio: a record of what you have done to meet your CPD requirements. This portfolio will be reviewed by the relevant professional bodies each year.

The Role of Ethics and Standards in Professional Accreditation

Professional accreditation in accounting is a formal recognition by an industry body. There are six accountancy bodies that offer accreditation in the UK – and this accreditation shows that they are happy with the standard of your work.

Accreditation not only requires an accountant to pass certain exams – it also involves regular checks to ensure that your certifications are up to date and that you are adhering to the standards of that body.

By becoming accredited – and maintaining that accreditation – an accountant can uphold a strong professional reputation. However, for this to happen, they need to adhere closely to both professional standards and industry and general ethics, which make up a large part of this accreditation.

Best Practices for Continuous Professional Development

As many accountants will know, it can be all too easy to find yourself approaching your renewal date with the realisation that you are behind on your CPD hours or units. This is why it is recommended that meeting CPD requirements is seen as an ongoing task.

Breaking your year down into chunks – such as quarters – and establishing what you can do in each chunk is a good way to ensure that you don’t leave everything until the last minute. Check ahead of schedule which courses, webinars, workshops and qualifications best suit you and your career aspirations. In this way, you’ll not only meet your CPD requirements in terms of hours/units, you’ll also find the best ways to advance your career.

Finally, be sure to document your CPD activity as you go along. Record all of your professional development activities as and when you do them. This ensures accuracy, helps you to pinpoint what more you need to do, and also allows you to understand any key areas you may be missing.

Why Join ICPA: Benefits for Your Professional Journey

With ICPA membership you’ll join over 1,000 other UK accountants and bookkeeping professionals who benefit from a huge amount of advice, support and resources.

Our full list of member benefits includes access to exclusive resources, accounting and tax helplines staffed by industry experts, insurance coverage and industry discounts.

ICPA members also enjoy a variety of networking opportunities, enabling them to discuss professional development and accreditation options with their peers and find the best ways to meet CPD requirements. We also offer members support in meeting these requirements, taking some of the stress and hassle out of professional body compliance.

Click here to talk to us about how we can help.

FAQs on Professional Development and Accreditation

What are the CPD requirements for accountants in the UK?

CPD requirements for UK accountants vary depending on the professional body in question. Typically, they involve completing a set number of hours or units of learning activities every year.

Can CPD activities vary in type?

Yes. CPD activities can include formal educational courses, webinars, conferences, workshops, self-study and practical experience, among others.

How do I track my CPD activities?

Most accounting industry bodies will provide you with a tool or logbook for recording your CPD activity. Here, you’ll be able to keep track of your activities, the hours and units you’ve logged, and any reflections on your learnings.

What happens if I don’t meet my CPD requirements?

If you fail to meet your CPD requirements, you may find that you could lose your membership status or professional accreditation with the body in question.

Is ethics training a part of CPD for accountants?

Many professional accountancy bodies do require specific training in ethics as part of their CPD requirements. This ensures that their members uphold the highest standards of professionalism and integrity.

How does professional accreditation benefit an accountant?

Professional accreditation demonstrates your commitment to your profession. It shows that you are passionate about maintaining the highest possible standards of knowledge, professionalism and ethical practice, and can enhance both your reputation and your future career opportunities.

What is the difference between mandatory and voluntary CPD?

Mandatory CPD is required to maintain your professional status. Voluntary CPD encompasses any additional learning you undertake that goes beyond the basic requirements.

Can attending conferences count towards my CPD?

As valuable opportunities for learning and professional development, attending relevant conferences can indeed count towards CPD.

Are there online resources available for CPD?

Many educational institutions and professional bodies offer online courses and webinars of their own. You’ll also find lists of resources online that can be used for CPD.

How do I choose relevant CPD activities?

Always plan your CBD activities with your career goals – as well as the needs of your employer or clients – in mind. You can then choose activities that will either enhance your current skills or help you develop new, relevant ones.

What is the role of accreditation bodies in CPD?

Accreditation bodies set CPD requirements and standards. They also provide accountants with resources, and may sometimes offer CPD activities of their own.

Can I carry over CPD hours to the next year?

The policy on this will vary depending on the professional body. Some will say no, while others will allow a certain number of hours or units to be carried over.