CPD case study

Meet Dereck

Dereck Walsh originally qualified as an accountant with Chartered Accountants Ireland (CAI). He became an ICAEW member 13 years ago through ICAEW's reciprocal membership agreement with CAI.

Dereck is a key audit partner (KAP) responsible for signing off Major Local Audits.

Dereck's CPD requirements

Reciprocal members are exempt from complying with the CPD Regulations if they have satisfied the CPD obligations of their home professional body (CAI in Dereck's case), unless they are KAPs (or responsible individuals). As Dereck is a KAP, he is required to comply with the regulations.

Dereck has used the CPD self-assessment tool and identified that he is in CPD practice category 1. He is required to complete a minimum of 40 hours of CPD annually, of which 30 hours must be verifiable.

Dereck is also required to keep records and make them available to ICAEW on request. This is in addition to the requirement on his employer, which is an ICAEW member firm, to keep records.

Dereck's CPD activities

Dereck engages in his firm’s structured annual programme of CPD learning, which meets the minimum CPD hours requirements for a category 1 practice member. The firm maintains a record of his participation in relevant CPD.

Dereck attends and contributes to the annual ICAEW public sector conference about local authority governance and the role auditors can play in strengthening it (three hours, verifiable). In addition, he keeps up to date with regulatory and industry pronouncements through reading and regular dialogue with fellow professionals (12 hours, non-verifiable).