THE INSTITUTE OF CHART ERED ACCOUNTANTS (GHANA)
MANDATORY CONTINUOUS PROFESSIONAL DEVELOPMENT PROGRAMME
1 WHAT IS CPD?
Continuous Professional Development (CPD) is a continuation of Initial Professional Development (IPD), the learning and development through which aspiring professional accountants first develop professional competence leading to performing a role as a professional accountant.
CPD is learning and development that takes place after IPD, and that develops and maintains professional competence to enable professional accountants to continue to perform their roles competently. CPD provides continuing development of the learning outcomes for (a) technical competence, (b) professional skills, and (c) professional values, ethics, and attitudes which were achieved during IPD.
CPD includes learning and development activities that contribute to the development and maintenance of professional competence, such as (a) education (b) training (c) practical experience, (d) mentoring and coaching, (e) networking and sharing of knowledge and experiences, (f) observation, feedback, and reflection, (g) planned self-development and improvement activities, and (h) unstructured gaining of knowledge.
2 CPD SCOPE
The following are some examples of learning and development activities that may be undertaken as part of a planned program of CPD activity:
(a) In-person or virtual courses, conferences, and seminars;
(b) e-learning courses;
(c) On-the-job training;
(d) Professional boards, technical committees, sector activities, information networks, or communities;
(e) Design, development, review or delivery of learning and development activities;
(f) Sharing of knowledge within a work team;
(g) Briefing sessions or discussion groups;
(h) Writing articles, papers, or books of a technical, professional, or academic nature;
(i) Research, including reading professional literature, journals, or the internet, for application in the professional accountant’s role;
(j) Professional re-examination or formal testing;
(k) Providing professional development support as a mentor or coach; and
(l) Receiving professional development support from a mentor or coach.
- 3.MANDATORY CPD FOR ALL PROFESSIONAL ACCOUNTANTS
All ICAG members active in the workplace, should complete CPD on an annual basis. If you have just become a member you need to ensure that you are participating in our CPD programme from 1 January after you became a member.
You don’t have to complete CPD if you are on our retired register.
CPD applies to all professional accountants, regardless of sector or size of the organization in which they operate, because:
a)The Code of Ethics for Professional Accountants includes a fundamental principle of professional competence and due care which requires all professional accountants to maintain professional knowledge and skill at the level required to ensure that a client or employer receives competent professional service based on current developments in practice, legislation and techniques and act diligently and in accordance with applicable technical and professional standards;
(b) Professional accountants in all sectors are subject to public accountability and the maintenance of public trust;
(c) The public is likely to rely on the designation and professional standing of the professional accountant. Professional accountants carry a professional designation. Lack of competence of a professional accountant has the potential to damage the reputation and standing of the professional accountant, the employer, and the profession as a whole;
(d) Rapidly changing environments drive the need to continuously enhance or develop new areas of professional competence; and
e) Acquisition of new ideas builds the technical competence of professional accountants to enable them deliver the best of service to their clients and employers.
4 MEASUREMENT OF CPD
IES 7 prescribes two measurement approaches:
(a) output-based or
ICAG has adopted the input based approach.
ICAG has established specific requirements for the nature, timing and extent of CPD activity that must be undertaken by professional accountants. ICAG requires each professional accountant to complete a minimum of 35 hour of learning or relevant professional development activity in a year of which a minimum of 21 hours should be verifiable.
Any learning activity can count as verifiable CPD when you can answer YES to these three questions:
1 Was the learning activity relevant to your career?
2 Can you explain how you applied the learning in the workplace?
3 Can you provide evidence that you undertook the learning activity?
Non-verifiable CPD is general learning not related to a specific outcome, or which is difficult to provide evidence for.
Practising membersmust obtain an appropriate proportion of CPD in their chosen specialism.
Members holding an ICAG practising certificate and audit qualification must ensure they maintain their competence in audit, even if no audit work is currently being undertaken.
The following provides guidance for the weighting:
|1||CPD Organised by ICAG||Contact Hours but not exceeding 12 Hours a year|
|2||CPD Organised by District Society of Accountants||Contact Hours but not exceeding 6 Hours a year|
|3||ICAG Accountants Conference||Not exceeding 6 Hours a year|
|4||ICAG Annual General Meeting||2 Hours|
|5||ICAG Presidential Luncheon||I Hour|
|6||ICAG Faculty Meetings||Not Exceeding 6 Hours a year|
|7||District Society Meetings||Contact Hours but not exceeding 6 hours a year|
|8||Membership of Governing Board of Corporate Entities, Technical Committees and similar bodies||6 hours|
|9||In- person, or virtual courses , relevant conferences, workshops and seminars||Not exceeding 6 hours|
|10||E- Learning Courses||Not exceeding 6 hours|
|11||Design, development, review or delivery of learning and development activities||Contact Hours but not exceeding 6 Hours per year|
|12||Sharing of knowledge within a work team or briefing sessions or discussion group||Contact hours but not exceeding 6 hours per year|
|13||Writing Articles, papers or books of professional, technical or academic in nature||6 hours per published work|
|14||Being an examiner of a professional organisation||6 hours per year|
|15||Providing professional development support as a mentor or coach||Contact Hours but not exceeding 3 hours|
|16||Pursing post-graduate education from a recognised Institution||12 Hours|
|17||In- House training programme/On the Job Training||Contact Hours but not exceeding 12 Hours per year|
The 35 credit hours required must be achieved by participating in at least 3 programmes of the Institute and a blend of more than one category of professional development as listed in the document. A minimum of 6 hours must be mandatory from ICAG organised CPDs.
1 UNIT IS THE EQUIVALENT OF 1 HOUR OF LEARNING SO: 1 UNIT = 1 HOUR
5 ARE YOU AN ENGAGEMENT PARTNER RESPONSIBLE FOR AUDITS OF FINANCIAL STATEMENTS?
IFAC has issued International Education Standard (IES) 8, Professional Competence for Engagement Partners Responsible for Audits of Financial Statements (Revised). Under the revised IES 8 professional accountants performing the role of an Engagement Partner are required to develop and maintain professional competence that is demonstrated by the achievement of learning outcomes. Engagement partners should therefore, undertake CPD that develops and maintains the professional competence required for the role.
6 CARRYING FORWARD UNITS
If you complete more than 21 verifiable units in any year, you can carry forward up to 21 of these additional units to your next CPD year. Unfortunately, non-verifiable units cannot be carried forward. Please note that you cannot carry forward CPD units in the year you are admitted to membership, as you only need to start doing CPD the following year.
7 WHEN SHOULD I DO CPD?
Do not leave it until the last minute! You should plan your CPD activity at the start of the year to ensure it is relevant to your development needs. This could be done with your manager as part of your annual development and appraisal process. Your CPD should be part of your annual development plan and does not need to be separate activity. All members need to submit a CPD declaration by 1 January confirming that they have met the requirements.
8 HOW DO WE REVIEW YOUR CPD?
Members are required to complete a CPD declaration each year by 30th April. Your annual CPD declaration should be made online at any point in the year by logging onto ICAG Members Portal. You are required to keep a record of your CPD for three years in case you are selected for a review (only send us your CPD record if you are selected for CPD review).
Only members on our retired register are exempt from undertaking CPD and making a declaration.
d access a wide range of CPD at www.accaglobal.com/cpd
9 DECLARATION PROCESS
Making your CPD declaration is easy:
1 Indicate your CPD route
2 Indicate if you are involved in the audit or historical financial information
3 Confirm that you have kept your professional ethics up to date.
10 HAVEN’T MET CPD REQUIREMENTS?
If you have not been able to meet your CPD requirement, there’s an option to declare this on your form. We will then contact you about making up any CPD shortfall and ask you to submit a replacement declaration when you have fulfilled all your CPD requirements.
11 HOW ARE MEMBERS SELECTED?
We do this by conducting annual reviews of a random sample of members’ CPD to ensure they are developing their knowledge and skills.
THE INSTITUTE OF CHARTERED ACCOUNTANTS (GHANA)
ANNUAL CPD DECLARATION : 2020
You are respectfully requested to do this online, through ICAG Members Portal at ICAG Website .
All members must complete this part
X I have complied with the CPD requirements for 2019.
X I have not been able to meet the CPD requirements for 2019.
I understand that CPD is a requirement for my continuing membership. I will make good my shortfall and then submit an updated CPD declaration to confirm.
Only select this part of the form if it applies to you: if it does not, please leave blank.
X I confirm that I am an engagement partner responsible for audits of financial statements.
PART 3 Completion of the CPD Credit Hours
ANNUAL CPD DECLARATION 2017
|SN||DATE||DESCRIPTION OF LEARNING ACTIVITY||CREDIT HOURS||REMARKS|
All members must complete this part
I confirm that:
• The information given in this form is true and accurate to the best of my knowledge and belief;
• I have maintained and, where appropriate, developed my competence in relation to professional ethics;
• I have not engaged in public practice activities without holding an ICAG practising certificate;
• I have not been subject to any disciplinary actions that have not already been brought to the attention of ICAG Council;
• I have not been subject to any criminal conviction and/or caution;
• I have read and I have understood the instructions and guidance overleaf before signing.
ANNUAL CPD DECLARATION –INSTRUCTIONS AND GUIDANCE
You are required to submit your 2019 annual CPD declaration by 30th April 2020. You are respectfully requested to make your CPD declaration on-line through ICAG Members Portal. You will then receive an acknowledgement that your CPD declaration has been received. Please keep your evidence for three years and only send it to ICAG if we ask you to.
COMPLETING PART 1
Check the box to confirm you have met the CPD requirement
Not met the CPD requirement?
Check the box if you believe you have not been able to meet the CPD requirement (if you have been granted a waiver, you should only check this box if you have not met your amended requirement). ICAG will then contact you to assist you in making good your CPD shortfall. You will be required to make a replacement CPD declaration once you have made good your shortfall and met the CPD requirement.
COMPLETING PART 2
Complete Part 2 if you are an engagement partner as defined by IFAC IES 8 (Revised), ie a partner or other person in the firm who is responsible for the audit engagement and its performance, and for the auditor’s report that is issued on behalf of the firm
COMPLETING PART 3
All members who are not on the retirement list must complete Part 3. You must complete this part in a manner that will make it possible for the credit hours earned to be evaluated and assessed. For verifiable CPDs, make sure the date, the topic and the organising entity are correctly stated. For non-verifiable CPDs, describe the learning activity vividly for ease of evaluation and assessment.
COMPLETING PART 4
You must sign the declaration to confirm the CPD information you have provided, that you have maintained your competence in relation to professional ethics, and that you have not been subject to any matters within the terms of ICAG’s bye-laws that have not already been brought to the attention of ICAG Council.
Engaging in public practice activities
If you engage in public practice activities, you are required to hold an ICAG practising certificate.
Information about bye-laws
ICAG Bye-laws set out the details of the events which could lead to disciplinary action. These events include (but are not limited to) the following:
• Incompetence in carrying out work;
• Breach of ICAG bye-laws or regulations;
• Disciplinary action against you by another professional body and/or regulator;
• Bankruptcy or insolvency;
• Criminal conviction and/or caution;
• Civil finding of acting fraudulently or dishonestly as a party or witness in civil proceedings;
• Misconduct – this includes (but is not limited to) any act, or failure to act, that is likely to discredit
you or ICAG or the accountancy profession.
2020 CPD CALENDAR
|5th - 6th February 2020||Enterprise Risk Management||Accra|
|19th - 20th February 2020||Transfer Pricing: Avoiding Pitfalls and New Transfer Pricing Regulations 2020||Accra|
|11th - 12th March 2020||Integrated Reporting||Accra|
|11th - 12th March 2020||Enterprise Risk Management||Kumasi|
|17th - 18th March 2020||Balance Scorecard Programme||Accra|
|29th - 30th April 2020||Financial Modelling||Accra|
|29th - 30th April 2020||Enterprise Risk Management||Tamale|
|13th - 14th May 2020||Capital Market Operations||Accra|
|10th - 11th June 2020||Update of Tax Legislation and Tax Planning||Accra|
|17th - 18th June 2020||Update of Tax Legislation and Tax Planning||Kumasi|
|24th - 25th June 2020||Update of Tax Legislation and Tax Planning||Tamale|
|8th - 9th July 2020||Update of Tax Legislation and Tax Planning||Takoradi|
|15th - 16th July 2020||IFRS Updates||Accra|
|29th -30th July 2020||Overview of Company's Act 2019, Act 992||Accra|
|29th - 30th April 2020||Public Financial Management Reforms||Ho|
|5th - 6th August 2020||Pensions Regulations and Administration in Ghana||Accra|
|19th - 20th August 2020||Financing Assets Acquisition - Leases and Mortgages||Accra|
|2nd - 3rd September 2020||Effective Treasury Management||Kumasi|
|23rd -24th September 2020||Public Procurement Act, Act 663||Accra|
|23rd -24th September 2020||Public Financial Management Reforms||Takoradi|
|14th - 15th October 2020||Preparing for Tax Audit and Issues Arising||Accra|
|4th -5th November 2020||Preparing for Tax Audit and Issues Arising||Kumasi|
|4th -5th November 2020||Effective Treasury Management||Accra|
|18th - 19th November||Internal Audit Workshop||Accra|
|Orientation for Practising Certificate (for those who qualify)|
|2 Free CPDs will be organised for Practitioners for the year 2020|
FEE: GH¢500.00 per day
All CPDs start at 9:00 am and end at 4:00 pm
Always send an email to confirm your participation
Any change in date(s), venue or topic will be communicated to Members by e-mail and on our website.