CPD Requirements

All members of the ICABC are required to comply with the CPD program.  A copy of the relevant Bylaws and Bylaw Regulations (Part 10 Continuing Professional Development), is available in the Members' Handbook and on the Institute's website.  The CPD Program consists of two distinct requirements:  the completion of a stated minimum number of CPD hours (the “minimum CPD requirement”) and the annual reporting requirement.

• Minimum CPD Requirement
• Verifiable vs. Unverifiable CPD Learning Activities
• Exemption from the Minimum CPD Requirement
• Reduction of the Minimum CPD Requirement
• Annual Reporting

Minimum CPD Requirement

Unless a CPD exemption applies, every member is required to complete a minimum number of CPD hours (the “minimum CPD requirement”) as follows:

* Current triennial cycle runs from January 1, 2008 to December 31, 2010 for all members.

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Verifiable vs. Unverifiable CPD Learning Activities

CPD learning activities are activities with significant intellectual or practical content that provide for the development of new or existing competencies in areas that are relevant to a member’s professional responsibilities and growth.  At least half of the minimum CPD requirement must be satisfied with verifiable CPD.

Verifiable CPD

Verifiable CPD includes any learning activity that can be objectively verified by a competent source, such as:

• Attendance, as a participant or lecturer, at courses, conferences, seminars, workshops, presentations, technical committees or discussion groups
• Research that results in publications or presentations
• Organized employer-based in-house training sessions
• Programs of study that involve the successful completion of an examination or certification
• Computer based learning activities that involve the successful completion of an examination or certification
• Professional re-examination or formal testing

Unverifiable CPD

Unverifiable CPD includes any learning activity that does not result in any evidence that the learning activity had been accomplished, such as

• On-the-job learning
• Self study that does not involve the successful completion of an examination or certification, including the use of computer based learning activities, conference reference materials or self-study CDs
• Casual reading of professional journals or magazines

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Exemption from the Minimum CPD Requirement

Certain members may be exempt from the minimum CPD requirement.  However, such members must still file an annual CPD report by January 31 for the previous calendar year to confirm compliance with the exemption criteria (except as noted for members in retirement).  See section entitled “Annual Reporting”.

Members who re-enter the workforce after having been exempt from the minimum CPD requirement for more than one year are strongly encouraged to create a CPD learning plan.  The Associate Director, Professional Development is available to assist in this regard.

Definitions

“Gross Annual Earnings“ includes:

• Gross income from employment or director’s fees (other than director’s fees from public companies or reporting issuers), and
• Gross annual revenues related to “Professional Activities” from self-employment sources, irrespective of the business structure used (sole-proprietorship, corporations, etc.).

“Professional Activities” for CPD purposes, are activities that benefit from the expertise of a Chartered Accountant, and includes, without being limited to:  services related to analysis, advice, interpretation, consultation, planning and representation in the areas of accounting, financial reporting, finance, taxation, business management, business advisory services, information technology, investigative and forensic accounting, insolvency, performance measurement and reporting, valuations, strategy and risk management, governance, management decision-making, and investment; and areas in which the Institute offers or recognizes a specialist certification or license.

General Criteria for Exemption

Members are eligible for exemption from the minimum CPD requirement if throughout the calendar year they were out of the workforce, and neither:

• Engage in paid activity, nor
• Serve on the board or governing body of a public company or reporting issuer as contemplated by Rule 204.4 of the Rules of Professional Conduct

Exemption for Members in Retirement

Beginning in 2010, members in retirement who meet all of the following criteria are now exempt from the minimum CPD requirement if:

• The sum of the member’s age and years as a CA is 80 or greater;
• The member does not engage in the “Practice of Public Accounting”, as defined in the Institute’s Bylaws;
• The member does not serve on the board or governing body of any public company or reporting issuer as contemplated by Rule 204.4 of the Rules of Professional Conduct; and
• The member’s “Gross Annual Earnings” does not exceed an indexed threshold.  For 2010, the threshold is $27,100.  Please note that “Gross Annual Earnings” is different from “Active Income” for membership dues reduction/waiver purposes.

Members in retirement who have submitted a CPD declaration of their eligibility for exemption from the CPD requirements do not need to file an annual CPD report, except if they cease to meet the exemption criteria.

Exemption for Members Out of the Workforce Caring for Dependent(s)

Beginning in 2010, members out of the workforce caring for dependent(s) who meet all of the following criteria are now exempt from the minimum CPD requirement if:

• The member does not engage in the “Practice of Public Accounting”, as defined in the Institute’s Bylaws;
• The member does not serve on the board or governing body of any public company or reporting issuer as contemplated by Rule 204.4 of the Rules of Professional Conduct; and
• The member’s “Gross Annual Earnings” does not exceed an indexed threshold.  For 2010, the threshold is $27,100.  Please note that “Gross Annual Earnings” is different from “Active Income” for membership dues reduction/waiver purposes.

Members out of the workforce caring for dependent(s) must file an annual CPD report and CPD declaration by January 31 for the previous calendar year to confirm compliance with the exemption criteria.

Special Considerations

Members who believe they have a valid reason for a reduction of (or exemption from) the minimum CPD requirement may submit a written request to the Professional Development Review Committee to consider their circumstances. Members who submit a request related to a medical condition must attach a letter from their doctor. The Committee will review each request on a confidential basis. Based on the information submitted, a determination will be made and forwarded to the member.

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Reduction of the Minimum CPD Requirement

Certain members may be eligible for a reduction of the minimum CPD requirement.  Such members must still file an annual CPD report by January 31 for the previous calendar year. 

General Criteria for a Reduction of the Minimum Number of CPD Hours

Members are eligible for a reduction of the minimum CPD requirement if they:

• Become a new member of the ICABC; or
• Are/was on maternity/paternity leave.

For example:

Assume you became a new CA on October 1, 2010. You would be responsible for completing CPD between October to December 2010, which results in a reduced CPD requirement of 10 hours, of which 5 hours must be from verifiable sources. As 2010 is the last year of the three-year cycle, your 2010 CPD requirement will be based on the greater of the annual or cycle requirement as calculated. Your reduced annual requirement is 5 hours (3/12 months X 20 hours per year), but your reduced cycle requirement is 10 hours (3/36 months X 120 hours for the 3 year cycle). Therefore, your CPD requirement is 10 hours, half of which must be from verifiable sources.

Special Considerations

Members who believe they have a valid reason for a reduction of (or exemption from) the minimum CPD requirement may submit a written request to the Professional Development Review Committee to consider their circumstances. Members who submit a request related to a medical condition must attach a letter from their doctor. The Committee will review each request on a confidential basis. Based on the information submitted, a determination will be made and forwarded to the member.

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Annual Reporting

Every member is required to file an annual CPD report by January 31 for the previous calendar year (except as noted for members in retirement).  Although supporting documentation need not be submitted with the annual CPD report, it should be retained as it may be requested for further verification.

Members in Retirement

Members in retirement who have submitted a CPD declaration of their eligibility for exemption from the CPD requirements do not need to file an annual CPD report, except if they cease to meet the exemption criteria.

Members Out of the Workforce Caring for Dependent(s)

Members out of the workforce caring for dependent(s) must file an annual CPD report and CPD declaration by January 31 for the previous calendar year to confirm compliance with the exemption criteria.

Non-Residents of BC

Non-Resident members of the BC Institute who meet and report their CPD activities to another provincial CA institute in Canada (or if resident outside Canada, meet and report their CPD activities to a foreign accounting body whose requirements are compliant with the IFAC International Education Standards) where they are also a member, do not need to duplicate their detailed CPD reporting.  Such members only need to indicate the jurisdiction in which their membership is held on the annual CPD report.  All other non-resident members must report their CPD as normal.

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