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About CPE The Continuing Professional Education (CPE) requirement was introduced and made mandatory by the Malaysian Institute of Accountants (MIA) on 1 March 1992. The background to the decision to make the CPE requirement (then referred to as Continuing Professional Development (CPD) mandatory was to ensure that members of the Institute were kept abreast with the latest developments and changes affecting the accountancy profession. In view of this, members of the Institute were required to attain a minimum number of CPE credit hours each year. Following the introduction of the mandatory CPE requirement in 1992, members were required to accumulate CPE credit points on a yearly basis. The Institute required its members in public practice to fulfill a minimum of 40 CPE structured points and 60 CPE unstructured points and for members who were not in public practice, the requirement was a minimum of 20 CPE structured points and 80 CPE unstructured points per year. Each year, members were audited to ensure that they complied with the CPE requirement. The last yearly audit was completed in 2001, after which the requirement for CPE was amended. In light of the constant changes affecting the accountancy profession, the Institute in 2001, undertook an extensive revision of its By-Laws (On Professional Conduct and Ethics). As a result of this revision, By-Law A-4 of the Institute’s By-Laws dealing with Continuing Professional Education was issued in 2002 with significant changes from the existing guidelines for Continuing Professional Development. In recognition of the fact that members should endeavor to make professional development a continuous learning experience and that continuing professional education is a process which fosters members of the Institute to develop and maintain skills and knowledge throughout their respective careers, the phrase Continuing Professional Development was amended to Continuing Professional Education (CPE). The usage of the phrase CPD credit points was also changed to CPE credit hours. The revision of the Institute’s By-Laws in 2002 also introduced other changes to the requirements for CPE credit hours and removed the requirement for members to keep records of their unstructured learning. With the amendments, members in public practice were required to obtain a minimum of 90 CPE credit hours of structured learning for each CPE cycle of 3 consecutive calendar years whilst members who were not in public practice were required to obtain a minimum number of 60 CPE credit hours of structured learning for each CPE cycle. Each member was required to obtain at least one-third of the requisite CPE credit hours of structured learning by the end of the second year of the CPE cycle. Pursuant to the revision in 2002, the CPE cycle for existing members commenced from the year 2002 until 2004 and thereafter. For new members of the Institute, their cycle commenced from the first day of the calendar year of their respective admission. To ensure that the Institute's CPE requirement is aligned with global standards and that of the International Federation of Accountants (IFAC), the Council of the Institute pursuant to the power conferred by section 10(a) of the Accountants Act, 1967 has recently approved the issuance of a new By-Law A-4 (currently known as Section 410) on CPE which is in compliance with the International Education Standards (IES) 7 issued by IFAC. With this introduction (see report above), the CPE requirements for all members will be changed to comprise 60 CPE credit hours of structured and verifiable learning and 60 CPE credit hours of unstructured learning for each CPE cycle regardless of the category of membership or nature of their practice, and at least twenty (20) CPE credit hours of such structured and verifiable CPE learning should be obtained each calendar year. |
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