ICAEW’s revised CPD regulations came into effect on 1 November 2023. Here’s some helpful information to get started.
The ICAEW CPD year is from 1 November to 31 October, but we understand that your firm/employer may have a different CPD year, for example, aligned to their financial year end.
This is reflected in the members’ annual declaration wording for 2024, which states “where your employer’s CPD year is different to ICAEW, you confirm that you have complied with Principal Bye-law 56 throughout your employer’s CPD year to 31 October 2024 and will complete the required CPD by the end of your employer’s CPD year."
Understanding your individual CPD requirements
You will be required to identify which CPD category is most applicable to you, based on the type of work you do. Each CPD category has a corresponding minimum number of hours of CPD that must be undertaken, a proportion of which must be verifiable. The minimum number of hours apply regardless of whether you are working part-time or full-time.
We recommend that you spend some time throughout the CPD cycle to reflect on the skills you have and to identify any areas for development – your needs may evolve over the course of the year. Any learning that is relevant to your role can count towards CPD.
Inspiration for your CPD activities
Your CPD hours can come from a wide range of activities. It's not just about attending courses or watching webinars, but can include, for example, listening to podcasts, receiving coaching, problem solving, reading articles and learning from your colleagues.
ICAEW have put together a wide range of resources that can count towards your CPD. For our Data Analytics Community members, we have the upcoming Sustainability needs data, but data needs to be sustainable – what's your role? webinar in September and we have already run eight webinars this year:
- Harness the potential of Power BI to solve data challenges
- Creating dynamic risk assessments using low-code analytics
- The CFO vs CDO: Bridging the gap in data challenges to drive business value
- Leveraging data to create best-in-class sustainability planning and reporting with Oracle
- Process mining 101: The key to digital transformation
- Mastering the art of AI prompt engineering
- Power Tools Part 4: Build dynamic dashboards with Power Pivot
- Microsoft Fabric: what is it and why should you care?
If these are relevant to your role, then you could use these to provide you with up to 8 hours of free, verifiable CPD. You can see a full list of events and access on demand recordings of past activities on our Community website.
If you are a member of staff at an ICAEW regulated firm, you have access to the Bloomsbury Accounting and Tax Service. This gives you access to over 80 titles from some of the UK’s top tax and accounting experts and enables you to take advantage of up-to-date industry insights to support you in your role.
One of your verifiable hours must be aligned to ICAEW’s code of ethics. If you’re not sure where to start, then we recommend our free ICAEW Ethics CPD course.
ICAEW have over 30 Communities which provide information, insights, guidance and networking opportunities on a range of industry sectors and professional specialisms. Additionally, our faculties provide up-to-date technical information about the latest developments in corporate reporting, tax and audit and assurance. Lots of the information and resources from our communities and faculties may be relevant CPD for you.
Our ICAEW Academy offers a wide range of programmes and courses – you could choose a course from our CPD catalogue, or, if you and some colleagues have specific needs, you can get in touch to discuss a tailored solution. You can build your own CPD programme from our Essentials CPD courses comprised of 67 individual courses, devised around technical core topics and updates.
If you want a boost to your CPD, you can watch the Virtual CPD conference on demand for free, with a half-day program of bite-sized, verifiable sessions covering a broad range of topics.
Evidencing your CPD
Remember, if you want something to count towards your verifiable CPD hours, you need some form of evidence that the learning has taken place. There are obvious pieces of evidence, such as a certificate of completion of a webinar, but you can also use independent evidence for a wide range of actions from your day-to-day work, from attending peer discussion groups and consulting experts to on-the-job research of technical content. You can read further guidance on what will be accepted by ICAEW as verifiable CPD, including a list of example activities and how they can be evidenced.
You can choose to record your CPD in any way that suits you. You may already have systems in place within your business that you can continue to use. For businesses and individuals that do not have a formal system in place, you are invited to utilise ICAEW’s free online CPD record which you can access through your member dashboard. Using our new digital tools, you can add ICAEW learning activities to your online CPD record effortlessly.
Final thoughts
Wherever you are on your CPD journey, make sure that you don’t leave it until the last minute. CPD is most effective and enjoyable when you break it down into regular, manageable chunks, so make the most of the resources we have provided and take the time to reflect on your progress regularly. Engaging consistently with your CPD not only ensures compliance but also enhances your professional growth and keeps you at the forefront of your field. Happy learning!