Continuing Professional Development (CPD)
The Society of Professional Accountants of Canada has implemented the policy of Continued Professional Development for its members and will be in effect starting January 01, 2020. The objective is to maintain the professional competence and to enhance RPAs ability to perform job related requirements.
The SPAC’s Handbook of Code of Ethics is an excellent framework for determining the ethics topics that are acceptable. The focus of ethics topics should include ethical considerations in the area of decision support, planning & control for accounting. The SPAC encourages members to use education sources that address specific scenarios such as manipulation of corporate resources for personal benefits, frauds in financial reporting and disclosure of confidential financial information. Credits for hours of study will be given for programs sponsored by the SPAC, its affiliates, businesses, employers, recognized third party content providers, educational institutions and other accounting organizations. Credits will also be given for home study courses, speeches, publication of technical articles and by examination.
CPD reporting period for all RPAs is Calendar Year (January 01 – December 31). If the required CPD hours are not completed, the RPA becomes delinquent and inactive. His membership may also be suspended.
First reporting period for new RPAs
Reporting period for a new RPA will begin on January 01 following the date of earning RPA title. However, if the new member has passed MPE and still need to submit accounting related work experience, reporting period begins on January 01 following successful completion of MPE. No CPD is required between the period of successful completion and following January 01. Any CPD credits earned during this period can be counted as being earned in the first reporting period subject to CPD credits carry forward limits.
CPD credits carry forward
When a certified member completes more than 20 credit hours in a given year, up to five credit hours may be carried forward to the next year, i.e., if 24 hours are completed, 4 may be carried forward; if 28 hours are completed, 5 may be carried forward; if 30 hours are completed, 5 may be carried forward.
The Society of Professional Accountants of Canada will recognize and accept CPD related to following fields of study:
CPD Credits measurement guidelines
|Activity||Credit hours||Acceptable Document|
|College or University courses (10 weeks or longer)||15 hours||Course assignments and exam result|
|Short courses||1 hour for each 50 minutes session||Course assignments and exam result|
|Non-credit courses||1 hour for each 50 minutes session||Certificate of completion|
|Professional and Trade Association meetings||1 hour for each 50 minutes session||Confirmation of participation|
|Seminars||1 hour for each 50 minutes session||Confirmation of participation|
|Professional designation Examination||10 hours for each part passed||Exam result|
|Third party contents||As approved by the SPAC|
|Participation on a board or Committee||1 hour for each hour of participation (to a maximum 3 hours)||Meeting agenda and letter from organization confirming your role.|
|Periodicals||Hours recommended by sponsoring organization||Proof of completion|
|Computer software packages Exams||Hours recommended by sponsoring organization||Proof of completion|
|Technical articles or research papers containing accounting and financial management material||
|Service as college teacher||
|Volunteering||None unless it includes a verifiable activity.||CPD committee will determine considering nature of activity.|
|Networking||None unless it includes a verifiable activity.||CPD committee will determine considering nature of activity.|
|Self study material that does not involve exam||None|
|On the job training||None|
|Any other reading that does not involve exam||None|
* A teacher needs one hour to prepare lecture for three hours. On average for a 3-credit hours course, a teacher delivers 16 lectures in a semester. SPAC will recognize one hour of preparation equal to one credit hour of CPD.
Any SPAC member who is over 65 years of age and is retired from the profession of accounting / financial management is exempt from the CPD requirements.
Exemptions are available for members in special circumstances, such as:
Exemptions are considered by the CPD committee on a case by case basis. The request should be sent to the CPD Committee accompanied by appropriate documentation. Being too busy at work, changing jobs or temporary unemployment are not considered special circumstances and will not be entertained.
SPAC will provide the following free and paid resources of CPDs:
Third Party Accredited Courses
SPAC will charge a very nominal fee to third-party content providers for CPD approval valid for 3 years. All requests received will be forward to the CPD Committee Chair to evaluate the course contents.