Continuing professional development (CPD) offers the opportunity to improve your skills, knowledge and competency, maintaining your proficiency to help supercharge your career. Jonathan Barber, Executive Director – UK for the Institute of Financial Accountants (IFA), looks at what verifiable CPD means, to help maximise your learning time. To ensure that your CPD is verifiable, it is crucial to align it with your job role, responsibilities, and career goals. Verifiable CPD activities should relate to specific learning outcomes and be supported by evidence. Examples of such activities could include participating in regional networking events and conferences organised by your professional accountancy membership body as well as attending webinars that cover various relevant topics, such as anti-money-laundering, tax, and financial reporting.
As an example, all IFA members, other than those who are CPD exempt, must complete 40 hours of CPD in any year, of which 20 hours must be verifiable. The IFA offers over 20 hours of complimentary verifiable CPD each year through regional networking events and webinars to aid professional growth. It’s a good idea to reach out to your professional membership organisation to see what resources they have available for you.
Verifiable CPD refers to activities that can be objectively confirmed as having been completed and are relevant to your development. Generally, they must meet the following criteria:
- Clear, specific learning outcome: the activity must have a clear and defined learning objective that contributes to your skills, knowledge, or competencies.
- Proof of completion: there should be tangible evidence that the activity was completed. This could include certificates, attendance records, transcripts, or reports.
- Third-party confirmation: the completed activity must be capable of being validated by a third party, such as a training provider, educational institution, professional body or employer. For example, this could cover examination results, certificates, appraisals and assessments, or confirmation of participation in events or courses. This ensures that the activity was not only undertaken but was also substantive.
- Relevance to profession: the activity must be relevant to your role, responsibilities and/or career, and contribute to your ongoing competence in the sector.
Examples of verifiable CPD activities can include:
- attendance at training courses, conferences, seminars, workshops, regional networking events and other meetings;
- online learning or training;
- studying for professional exams with formal testing;
- on-the-job training, including secondment, work shadowing, visiting other departments, performance feedback, or professional guidance from a mentor or coach;
- participating in and working on boards, technical committees, networks and other sector activities; and
- writing articles, papers or books which are technical, professional or academic in nature; and
- researching relevant subject matter, including reading professional literature and journals and technical discussion with colleagues.
In contrast, non-verifiable CPD activities might include self-study, reading professional journals, watching YouTube channels, or informal discussions with peers, which, while valuable, do not provide clear proof of participation or learning.
Checklist for verifiable CPD:
- Is it applicable to your role and responsibilities?
- Did you gain new insights or knowledge?
- Do you have proof that you completed it successfully?
If you answered yes to all three questions, then it qualifies as verifiable CPD.
Other questions to ask yourself on your CPD journey are:
When should I do CPD?
Managing your CPD journey requires careful planning and a bit of organisation, and shouldn’t be something that’s left to the last minute. Taking the time to plan your ongoing professional development for the long term can significantly enhance your knowledge and encourage a commitment to lifelong learning. Consider mapping out your CPD activities at the beginning of the year to align them with your personal development goals. Your CPD should integrate into your annual development plan and doesn’t have to be treated as standalone activity.
Here are some key steps worth following:
- Identify the skills you want to improve and look for suitable learning opportunities.
- Get involved in relevant CPD activities to earn credits.
- Reflect on your learning experiences and evaluate if you need further development.
- Stick to a consistent plan and actively participate in CPD throughout the year.
This approach will help you stay dedicated to your growth and pinpoint any areas that may need additional attention.
How can I measure the impact of my CPD?
Recognising when your learning has made a positive difference is crucial.
It’s important to focus on how you’ve put this new knowledge into practice and how it benefits you, your team, or your organisation. Ideally, you should look for measurable results, such as improvements in services, cost reductions, increased revenue, or time savings.
Additionally, assessing your progress against the goals you established at the start of the year can be beneficial. To assist you in this process, take some time to reflect on your experiences throughout each stage of your learning. Consider asking yourself these questions:
- How have I utilised this learning in my work?
- What effects has this learning had on my team and practice (if applicable)?
- Have I improved the services offered to clients?
- Am I completing tasks more efficiently?
- What insights can I gain from this experience?
These questions will guide you in determining which learning objectives have been effective and which ones may require further attention.
Working in a fast-changing industry such as accountancy demands a high level of flexibility and adaptability. CPD offers a wealth of opportunities to enhance your knowledge and explore new aspects that are relevant to your position. Be sure to get the most out of your valuable study time by understanding the requirements of CPD. Don’t forget, your professional membership body or institute should be there to assist you every step of the way as you advance in your CPD journey.
