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Under ICAEW’s CPD Regulations members are required to complete a minimum number of CPD hours based on the type of work they do. But what happens when your role changes from a practice to non-practice role mid-year? Read through this example to help understand the implications of changing your role.

Meet Jamal

Jamal Dutta is an audit manager having worked in the same audit practice since qualifying in 2017. The firm primarily audits non-listed entities although it also acts as component auditor to several UK listed companies audited by the Big Four.

During the first part of the 2023/2024 CPD year, Jamal was audit manager for a component audit (of a UK listed company) reporting into a group auditor. Jamal left the firm in May 2024 to take on the role of financial controller of a UK property company, itself a subsidiary reporting into a US listed parent.

Jamal's CPD requirements

Jamal worked through the CPD self-assessment tool at the beginning of the CPD year. This identified him as being in CPD practice category 2, so he is required to undertake at least 30 hours of CPD annually, of which 20 must be verifiable.

The CPD Regulations (paragraph 13) require that a member or relevant person must undertake the minimum CPD requirements which applied at the start of the year, but also reflect on whether they should be doing more than the minimum in view of the change in their role and when, during the CPD year, the change of role takes place.

Jamal is required to keep records and make them available to ICAEW on request. This is in addition to the requirement on the practice to keep records for the period that Jamal worked at the firm.

Jamal's CPD activities

Jamal undertook relevant CPD activities during the year, to meet his development needs for the new role.

Jamal was a member of the Audit and Assurance Faculty. During the year, he joined the ICAEW Construction and Real Estate Community to access content relevant to the sector and engage with experts and fellow professionals, through events and webinars.

Jamal completed the ICAEW ethics CPD course (module 1, one hour). He also completed ethics module 3 (business option, one hour).

CPD required   Undertaken CPD
Minimum total CPD

30 hours

Total CPD 61.5 hours 
Minimum verifiable CPD 20 hours Verifiable CPD 38.5 hours

Jamal's CPD record

More support

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what CPD activities did you undertake?

Why Did you undertake these activities?

Record of activity
(including dates)

CPD Learning hours

(of which verifiable)

Retained evidence

(objective, corroborated)

Reflect: Development needs and how much have these been met?
November 2023 to May 2024

I am an audit manager leading and supporting on unlisted company audits. I was manager on one audit which was a subsidiary of a Public Interest Entity. This accounted for approximately 10% of my time.
I expect (and am required) to maintain and keep up to date my knowledge of financial reporting, regulatory and compliance matters relevant to my audit clients. 

2023/24

Minimum hours requirement: 30 hours, of which 20 hours verifiable.

May 2024 to October 2024
The new role, effective 1 May 2024 requires technical knowledge and understanding of US GAAP and Sarbox regulations.  Property is a sector in which I have experience but limited expertise.

The focus of my CPD activities during the 23/24 year has been on maintaining existing knowledge and undertaking new learning to meet the expectations of my new role as financial controller.

I am required to undertake a minimum of one hour of ethics training annually.

Act: What CPD activities did you undertake?

November 2023 to May 2024

Quarterly FR updates delivered in house by the firm (November 2023, February 2024).

Total 6 hours (verifiable).

Firm record of attendance.

ICAEW Audit and Assurance Faculty membership:

(a) factsheets and bulletins, and

(b) webinars x 3 (various dates to May 2024).

Total 6 hours.

(3 hours non-verifiable).

(3 hours verifiable).

 

 

ICAEW webinar registration email.

Module 1 of the ICAEW ethics CPD course. Total 1 hour (verifiable).

ICAEW certificate of completion.

May 2024 to October 2024
Self-study IFRS to US GAAP comparison handbook (KPMG downloadable edition).
April/May 2024
Total 20 hours (non-verifiable).  
Monthly US GAAP technical updates delivered through employer in house workshops.
June, July, September 2024 (90-minute sessions)

Total 4.5 hours (verifiable).

Attendance records.

Annotated notes from all sessions.

ICAEW Property and Real Estate Community membership:

(a) webinars x3, and

(b) events.

6 hours (verifiable).

Calendar record.

ICAEW webinar registration email.

Community event registration email.

Planning meetings (x2) held with external auditors covering new or emerging technical issues.
July-September 2024
Total 3 hours (verifiable).

Meeting attendee list.

Auditor presentation slides and notes from planning meeting covering new and emerging technical issues.

Technical briefings (various) from US parent consultants on SarBox reporting requirements.
14 June, 22 June, 5 July, 8 September, 30 September
Total 14 hours (verifiable). Written confirmation can be obtained from US head office (if required).
Module 3 of the ICAEW ethics CPD course. Total 1 hour (verifiable).

ICAEW certificate of completion.

Online CPD record

As an ICAEW member, it's easy to manage your CPD activities and record your progress against CPD requirements in your online CPD Record.

Find out more about how ICAEW's CPD Regulations are changing after 1 November 2023