CPD Policy and Requirements

CPD Policy, requirements, and tracking.

TRACK YOUR CPD BY CLICKING HERE!

 

You can find the Continuing Professional Development Policy by clicking here.

Continuing Professional Development (CPD) activities are expected to develop and maintain professional competence to enable you to continue to perform your professional role. Any learning and development that is relevant and appropriate to your work and professional responsibilities and growth as a CPA will qualify for CPD.

The minimum requirement for CPD is that every member, except members who are exempt, shall report:

  1. Maintain 120 CPD hours over a 3-year rolling period (calendar year).

  2. CPD learning activities are classified as either Verifiable or Unverifiable. A minimum of 60 CPD hours over the 3-year rolling period must be Verifiable, which shall include a minimum of 4hours of verifiable learning in professional ethics.

  3. A minimum of 20 CPD hours must be reported annually, including a minimum of 10 hours of verifiable learning.

  4. The annual CPD reporting deadline for a calendar year is January 31st of each year. Failure to report CPD or report a CPD Plan to Remedy deficiencies by January 31st, will result in a $100 fee.

  5. 1-hour relevant CPD learning activity = 1 CPD hour.

In addition to the above requirements, those professional accountants in public practice who are engagement partners responsible for audits of financial statements must comply with the requirements of IES 8 regarding professional competence.

Members are required to report their hours using mycpawebservices.ca, or report a CPA Plan to remedy deficiencies to the Association office, by January 31 each year. Failure to report by January 31 will result in a $100 fee.

For audit purposes, members are expected to retain, for a minimum of five-years, documentation in support of verifiable CPD activities claimed. Verifiable CPD documentation should:

  • Describe the learning activity;
  • Identify the provider of the activity, where applicable;
  • Connect the member to the activity;
  • Identify when the activity took place; and
  • Provide a basis for concluding that the number of reported hours is reasonable.

You can find the CPA Newfoundland and Labrador CPD Exemption application form by clicking here.

If you did not meet the annual CPD requirements, and plan to do so, please fill out and submit the below form.

CPD Plan to Remedy Form (fillable)