CPE Compliance

The International Federation of Accountants (“IFAC”) has issued the International Education Standard (“IES”) 7 “Continuing Professional Development (Revised)”. As a member body of IFAC, the Institute is responsible for the continuing professional education of professional accountants as set out in the requirements of IES 7.

IES 7 prescribes the continuing professional development requirement of professional accountants to maintain professional competency. Such a requirement contributes to the profession’s objective of providing high-quality services to meet the needs of the public (including clients and employers) and thereby to strengthen public trust in the profession.

In order to maintain professional competency and to ensure the exercise of due care at all times, a professional accountant is required to participate in continuing professional education learning activities that are relevant to his or her current and future work and professional responsibilities. CPE requirements are applicable to all professional accountants regardless of sector or size of business in which they operate.

CPE learning activities are those learning activities that develop and maintain capabilities to enable professional accountants to perform competently within their professional environment. Participation in CPE learning activities is therefore vital in maintaining high standards and public confidence in the profession.