CPD made simple

Finance practitioners have always needed to take responsibility for their continuing professional development. But more so now, as during the past few years, the sins of the few have tarnished the reputations of the many.

The profession’s loss of ground has prompted the UK’s accounting institutes to extend and strengthen their CPD requirements. All the UK institutes now expect their members to undertake CPD that is relevant to their individual needs, measure the learning activities undertaken or outcomes achieved, and retain appropriate records and documents.

Fortunately, software tools are on hand, making it easier to analyse training needs, deliver the necessary CPD, and then monitor progress.

None of the institutes has prescribed any particular style of training. But technology is now as integral to their CPD efforts. All of the institutes provide online support to varying degrees.

ACCA and the ICAEW offer a range of resources from reference material to lists of available courses and providers. There are also technical courses, for example the ICAEW recently introduced its own online e-learning offering for IFRS.

Usefully, the AAT offers an online CPD log, which enables members to keep a record of their CPD activities. The log is automatically updated to reflect their attendance at branch meetings and AAT CPD courses, while individuals can update it to reflect non-AAT CPD activities.

Of course, the internet also offers a convenient way of undertaking CPD. ‘We have developed our eCPD product so that accountants can dip into it whenever they have a little free time,’ explains Julia Penny, head of professional development with accountancy education provider CCH.

Each subject is broken down into modules that cover a small area and take about 10 or 15 minutes to complete. ‘Bite-sized chunks are best,’ Penny says. You can access these modules from anywhere with an internet connection. ‘Some people like to download them onto their laptop, so that they can do them while they’re travelling,’ she adds.

This is all very well for specific technical subjects. But accountants also need to keep up-to-date on wider business issues, and the non-verifiable routes remain the most practical and popular for this.

‘I read magazines and newspapers to maintain my awareness and knowledge of accountancy, finance and business news,’ says Brian Leighton, the senior and managing partner with Foster Squires, a London-based firm with 23 staff. The firm’s accounting staff can also undertake more formal on and offsite training, and it offers in-house mentoring.

All of this needs planning, monitoring and analysing, which is no mean feat, whether you have 23, 230 or 2,300 staff. Most large firms have systems support for CPD. Deloitte, for instance, has a global e-learning system that covers a vast number of areas ranging from IFRS to negotiation skills. It also has a staff tracking system that keeps a detailed record of training received, as well logging all the CPD activities of each individual staff member.

Smaller firms with fewer resources have a variety of options at their disposal, ranging from resource planning systems to spreadsheets. The former can be costly, while the latter can be cumbersome, complex and time-consuming. Dedicated tools can be more effective.

The SWAT CPD Recorder, for instance, can enable you to identify your training needs, record the details of any CPD you undertake and provide the sort of analysis that’s invaluable to the verification process.

‘It’s made CPD much easier for me to plan and manage,’ says small practitioner Frederick Kirkland. ‘Now all I have to do is find the time.’

Lesley Meall is a freelance journalist

IT assistance

There are numerous options when it comes to technology-based tools to help you keep on top of your CPD.

Reference tools from suppliers such as LexisNexis can be easily accessed from CDs and online, so you should have no problem getting immediate access to material on audit, GAAP,tax or more specialised areas, from wherever you happen to be.

You can also use the internet to access a range of general and specialised CPD training tools. These are available from a variety of organisations and cover areas ranging from auditing, corporation tax and VAT to anti-money laundering, hedge funds and SAP and are available from a variety of organisations – a quick Google will reveal how spoiled for choice you are.

It’s a good idea to consider theways in which you think you are most likely to use these tools and ensure that they will support you.

At the moment, CDs, tapes and internet-based offerings are more convenient, but in the future, training providers will make more use of PDAs, phones and other mobile communications devices.

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