BusinessPeople In BusinessMembers vote for principle-based approach to CPD

Members vote for principle-based approach to CPD

The majority of ICAEW members have voted in favour of a new principles-based approach to their own professional development.

Link: CIPFA launches new accountancy qualification

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.

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