Continuing Professional Development (CPD) is the term used to describe the learning activities professionals engage in to develop and enhance their abilities. It enables learning to become conscious and proactive, rather than passive and reactive.
Professional development is the skills and knowledge members gain to optimize their personal development and job growth. It includes learning opportunities, such coursework, or attending conferences or training sessions.
It is important to note that CPD requirements apply to all members and accredited bookkeepers. As a member of PAFA, a regional grouping of IFAC, NIPA members must comply and adhere to the IFAC standards effective from January 2007.
It is important that members attend Continuing Professional Development (CPD) activities courses relevant to their practices and business requirements. However regular GAAP / IFRS and Tax update is compulsory for all members in practice.
It is the responsibility of each NIPA member to furnish and keep a record of their own progress / attendance schedule on file. Failure to do so, or to comply with the annual submission requirements as required, is regarded as a serious disciplinary offence.
A CPD cycle operates in a rolling three-year period. The requirement for the 3 year cycle is a total of 120 hours (of which at least 60 hours to be “structured” and the balance “unstructured”).