What does CPD really mean?

Having just shared my views re CPD over on AccountingWeb I offer below an adapted summary and a few additional ideas and tips.

CPD of course stands for Continuing PROFESSIONAL Development.

To some (older?) people this is synonymous with attending courses. It’s what we always did. Historically I recall my obligation to the ICAEW was to evidence 150 points of CPD each year. Of these a large proportion had to be  ‘structured CPD’ such as attending courses. These qualified for 3 points per hour. Reading technical updates only counted for 1 point per hour. As far back as I can recall I hit my 150 points target within the first few months of each year. I think that was more common with tax advisers than audit partners for some reason.

The ICAEW CPD rules changed a while ago to a much more sensible system in my view. Now there is a simpler obligation on each member to  judge what CPD is most appropriate for you, and how you intend to acquire that knowledge. (See: ICAEW What is CPD?).

ICAEW also point out that effective CPD can include:

• Technical reading
• Learning at work
• Meetings with experts
• Conferences
• Courses and seminars
• Online learning
• Workshops with your peers
• Reading magazines, newspapers and journals
• Registering for updates and email alerts

And PLEASE let’s remember that our Continuing Professional DEVELOPMENT means far more than simply being uptodate technically. What about personal skills, business skills, management skills – and so on?  These are equally important aren’t they?

Cost effectiveness is one of the keys, especially as we move into 2010. The big course providers try to keep the cost of places low by encouraging the use of annual tickets and large numbers in one central location.  One to one training can be far more productive and personal (which is what really counts) but is likely to be more costly although it will take less time. If you’re able to undertake good billable work for much of the time it can be a false economy to lose that billable time to take time out to attend a cheap big course miles from the office.

Everyone is different.

Some will benefit most by attending big generic courses and listening to a speaker whilst watching their powerpoint slides and then reading the notes afterwards. It is an approach that many of us are very comfortable with, it gives us a break from the office, perhaps we also get to chat with other delegates and to interact with the speaker.

It’s a little ironic for me as an organiser of training sessions for professionals and as a speaker at such events to admit this but there are many alternatives available now – including the online provision of almost identical course content to that which you might otherwise travel miles to hear live. An increasing number of providers are offering you the choice.  If this is of interest do please add a comment below this blog or send me a note and, if there is sufficient interest, I’ll look into it further as regards my own seminar materials.

Some people may absorb more information simply through reading relevant content online or in magazines, books or newsletters.  For example I’m sure that reading the Tax Advice Network’s weekly practical newsletters counts as CPD – although they don’t take very long to read given their practical focus for accountants in general practice.  Reading this blog and the posts on the TaxBuzz blog too should count as CPD – although this is less likely as regards my blog containing accountant jokes and fun!

What really matters is whether your PROFESSIONAL skills and knowledge are improved/developed in some way by the activities you undertake.

It’s also worth stating that attending a course doesn’t always count (if you’re honest). For example, if you leave the course thinking it was a waste of time and you’ve learned nothing new; in what way has your attendance contributed to your Continuing Professional DEVELOPMENT?

Please share your views as comments below if you care.

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