Effective January 1, 2021, all RPA members in professional accounting practice required to go through training and evaluation process to become accredited RPA practitioner, RPA members who wish to engage in the practice of issuing compilation engagement reports (Notice to Readers) and/ or who wish to operate a professional accounting practice will need to hold an active Professional Practice Accreditation (PPA)
The framework for certification is outlines as follows:
Starting January 2021, RPA members must attend eight mandatory virtual training seminars which will outline specific aspects of professional practice. The virtual training seminars will be as follows:
PPC-1: Basics of Compilation Engagements
PPC-2: Compilation Engagements (In-Depth)
PPC-3: Pro-forma Financial Statements & Projections (Forward Looking)
PPC-4: Bookkeeping/ File management & Cybersecurity and confidentiality
Case Study 1
PPC-5: Ethics & Professional Code of Conduct
PPC-6: Basics of Review Engagements
PPC-7: Basics of Audit Engagements
PPC-8: Professional Communication & Correspondence
Final Case Study (cumulative)
Upon completion of the first four seminars, member will be required to complete and submit a case study for evaluation before being able to continue to the remaining four seminars. Completion of the final four seminars will culminate in a final case study to be submitted for evaluation which will cover material from all eight seminars.
Members – Please review the upcoming changes and ensure that you understand your obligations and responsibility to complete these requirements before the effective date. It is absolutely imperative that every member complies with these requirements before CSRS 4200 goes into effect.