Rather than the current hours-based approach, which currently serves as a guideline on how much CPD members should be doing, the new proposed framework gives members more say in what they do.
Some 55% of members surveyed said they were in favour of the proposed new approach to professional development.
A majority of respondents (69%) agreed to monitoring being based upon a risk profile, while 66% felt it was time to move away from the hours-based approach.
The ICAEW said the new approach would be more relevant and practical to members of the institute.
Anna Coen, director of policy development for education and training, said: ‘It’s trying to get away from saying “tick the boxes to show you’ve put in the hours”, to what it’s really about to be a professional.’
Coen said the final draft of proposals was still likely to be amended to reflect members’ aspirations.
However, under the principle-based approach, for which most members have registered their support, individual members will judge what is required for their job and identify the skills, knowledge and expertise needed to meet those expectations.
A greater proportion of business members (71%) was happy with the move away from an hours-based approach, as compared with 55% in practice.
Accountancy Age Jobs is delighted to announce the launch of a brand new look website for finance and accountancy professionals
The UK gender pay gap will not close until 2069 unless action is taken to tackle it now, according to new research by Deloitte
Three former Tesco executives, including the former finance director of Tesco UK, have been charged with fraud by the Serious Fraud Office in relation to a £263m accounting scandal at the retailer.
Deloitte chief executive David Sproul is among 11 chief executives to take part in global executive search firm Odgers Berndtson’s CEO for a Day scheme