The value of continuing education for accounting professionals
September 20, 2016

Accountants and bookkeepers operate at the mercy of their clients. These professionals often work with people in a variety of industries that are constantly changing with regard to the technologies they use, their business operations and their missions, so it makes sense accountants and bookkeepers need to be constantly honing their skills.

In Canada, continuing professional development is required for CPAs to maintain their professional competence and provide excellent service. More importantly, CPD is required for accountants to retain a license to practice. On a national level, CPD requirements in Canada are aligned with the standards set by the International Federation of Accountants

While each province has minor differences, each has a similar requirement for 20 hours each year, 10 of which must be verifiable. According to F.H. Black and Company Incorporated, CPD activity is considered verifiable if it involves some sort of record of participation, such as an exam or certificate. Verifiable CPD could include formal study, teaching or publication. 

The benefits of CPD
Navigating the standards and requirements for maintenance of licensure can be complex and often daunting. However, CPD isn't just mandatory in most cases, it is also advantageous for accounting professionals who hope to succeed and improve their competitive edge in the long term. Consider the following reasons:

1. Competitive advantage: It is important to invest in a CPD program that is intellectually stimulating and allows you to strengthen your skills. Continuing education enables professionals in all industries to sharpen their expertise and stay in tune with the knowledge of their competitors.

2. Professional organization membership: Some accounting organizations, like Chartered Professional Accountants, have their own specific requirements for accountants to become and remain members. These organizations are crucial to professional development and to a firm's business development, so compliance with these standards is crucial.

3. Technological Proficiency: Businesses across the country are leveraging technology like the cloud to streamline their processes and operations. CPD programs can also help accounting professionals become more tech-savvy and stay on the same page as their customers.

4. Networking: Believe it or not, CPD programs are great networking opportunities. The life of an accountant is stressful, and continuing education can easily add to your workload. However, these opportunities are a great chance to meet new people within your field.

Don't delay meeting your CPD requirements. Get started today with Sage Leadership Education for Accounting Professionals.

Nexus: G-WEBCD3