cpd faqs

							                                                         ZICA




ZICA’S CPD REQUIREMENTS FOR ALL ACTIVE MEMBERS

What is CPD?
Continuing Professional Development (CPD) is the continuous maintenance, development and enhancement of the
professional and personal knowledge and skills which members of ZICA require throughout their working lives. CPD is the
learning we all need to do to stay competent and to develop new skills to be effective in our jobs and careers. CPD,
therefore, is something which ZICA members will almost certainly already be doing as part of their everyday working lives.

Why is it important for members to complete CPD?
It is important that ZICA members remain competent and develop new skills to remain effective in their jobs and careers.
This will help maintain members' employability and their reputation with employers, clients and the public. It will also help
maintain ZICA's reputation for producing and supporting high calibre professionals.

Who will have to complete CPD?
All members who are active in the workplace must participate in the new CPD policy from 2007 onwards.

What are the different ways of completing CPD?
The different ways of completing CPD are outlined in the boxes below. Check each route to see which you are eligible to
follow.


 THE UNIT ROUTE
 This route is for members who are planning and organising their own CPD. This route requires members to complete
 40 units of CPD per year, 21 of which must be verifiable. One unit equals one hour spent on a learning activity. For
 example, 6 hours spent attending a course would be 6 units.

 What is verifiable CPD?
 No matter what your learning activity is, if you can answer yes to the three questions below, you can record your activity
 as verifiable CPD. CPD does not just have to be about attending courses: a variety of learning activities are valid CPD.
    Was the learning activity relevant to your career?
    Can you explain how you will apply the learning in the workplace?
    Can you provide evidence that you undertook the learning activity?
 Examples of verifiable CPD can include attending courses; they can also include completing further education such as
 an MBA or diploma; undertaking e-learning; and verifiable CPD can also be gained through learning at work if you can
 answer the three “verifiable” questions outlined above.

 What is non-verifiable CPD?
 Non verifiable CPD is activity such as general reading, discussions with colleagues in an informal session, and
 attending networking events to keep general professional knowledge current.

 Does my CPD have to be focused technical accounting?
 CPD undertaken must be relevant to you. If you work for an internet company a seminar on computing may be relevant
 to you and develop your business knowledge. Therefore it would constitute CPD. Similarly you may be required to
 undertake a course on presenting for a forthcoming business presentation – again, if it is relevant to your career, it
 constitutes CPD. Practising members should still ensure that the majority of their CPD consists of technical accounting.

 What happens if I complete more than 40 units of CPD in a year?
 Members may carry forward a maximum of 21 excess verifiable units (beyond the 21 units required) into the following
 year. ZICA recognises that some members may obtain more verifiable units of CPD in any one year, for example if a
 member is doing a further course of study or qualification. Members should keep records of carry forward units and
 record it with the following year's evidence.

 Will ZICA take into account special circumstances and reduce the CPD requirement?
 ZICA will take into account special circumstances affecting a member's ability to complete CPD. You can apply for a
 waiver which will relate to verifiable CPD units if you are following the unit route and taking a career break; on maternity
 or paternity leave; long term sickness leave; are unemployed; or have onerous caring duties for a close family member.
 Generally a minimum period of one month’s absence from work is required for you to be eligible for a waiver.

 You can apply for a waiver by contacting ZICA. If you are accepted for a waiver you must still complete a CPD return
 and complete the 19 non-verifiable CPD units. ZICA will provide more information on waivers as the year progresses.
    THE IFAC BODY ROUTE
    This route is for members who also belong to another IFAC-member body. Such members can choose to follow that
    body’s CPD scheme if it meets IFAC’s International Education Standard 7.

    Can I follow another IFAC member body's CPD scheme?
    If you wish to follow another IFAC member body's CPD scheme, you must be a full member of that body.

    Who will check whether other IFAC accountancy bodies are compliant with IFAC?
    If you are a member of another IFAC body, and choose to follow that body's CPD scheme instead of ZICA’s, it is your
    responsibility to check whether the body is compliant with IFAC CPD requirements.

    If I follow this route, do I still have to do CPD for ZICA?
    ZICA will recognise your CPD activity as being valid and you are not required to also follow the ZICA requirements.
    However, you must submit an annual CPD return to ZICA each year stating that you are following the IFAC body route.

    Can I apply for a CPD waiver if I follow the IFAC body route?
    ZICA waivers only apply to the unit scheme route; if you have chosen to follow another IFAC body’s scheme, if
    necessary or required, you should apply to that body for your CPD waiver in accordance with their own rules.



How do members make their CPD return?
All members will be required to make a CPD return on an annual basis. This can be done by completing a paper form
which will also be sent to you towards the end of each CPD year, or asking ZICA to send you out a form at any point.
Members will be asked to confirm that they have achieved the CPD requirements via one of the following:

      the unit route
      the IFAC body route

Members will also be asked to declare that they have maintained and, where appropriate, developed their competence in
relation to professional ethics.

Is the annual CPD return form very time consuming and complex?
No. You just need to tick two boxes and sign a declaration. There is no requirement to supply any supporting
documentation at the point of the CPD return. ZICA may request your CPD evidence at a later date as part of the
monitoring process.

Do all members have to make a CPD return?
No matter which route to CPD you follow, and even if you have been granted a waiver, all members who are active in the
workplace must nonetheless make a CPD return each and every year.

Do members need to retain evidence of their CPD activity?
Members following the unit route are required to maintain a portfolio of evidence, for example, office records, diary entries,
course objectives and minutes of meetings. ZICA can provide you with paper evidence forms. These can assist in
recording CPD activity.

Members who are also members of another IFAC accounting body which is compliant with IFAC's International Education
Standard (IES 7), and choose to follow that body's CPD scheme, must maintain evidence consistent with their body's
requirements. They must also keep evidence of their membership with that body.

How long must evidence be kept?
Evidence must be kept for a three year period for ZICA's monitoring purposes.

What will members need to consider when retaining evidence?
Members need to be able to prove that the CPD that they have undertaken is relevant to their development needs and all
evidence should demonstrate this. The paper evidence form will help you consider this.

Where can I source more information about CPD?
ZICA will be contacting you regularly with all the information and support you will need to understand and commit to the
CPD requirements.