ICAEW CPD Changes: What do they mean for you?

The Responsibility of the Practice Practices have always been responsible for ensuring that the accountants in their team complete appropriate CPD. However, it has never been the primary focus of a QAD (Quality Assurance Department) visit, and it has been very difficult for the Practice Assurance Committee to penalise a firm that is lax. All that has changed. With the switch to an hours-based system, QAD will find it much easier to assess whether a practice is taking CPD compliance seriously. So, when you receive the email from QAD, scheduling a visit, there will be one more set of records you need to produce. If the CPD service you use doesn’t give you easy access to those records, you will have the unenviable job of asking for, and chasing down, the CPD records of every accountant in your team. If it turns out they don’t have the evidence, it may well be too late to sort the problem out.

So, you need to get organised with the right provider as soon as possible.

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