Public Accounting and CPD Requirement Reminder

Members applying for a new Public Accounting Licence (PAL) or those who are renewing their existing PAL, must complete the required Continuing Professional Development (CPD) hours in activities directly related to the competencies needed to engage in the practice of public accounting, as outlined in Regulation 7-2.

The competence areas and learning outcomes for PAL holders and members applying for a PAL were updated for reporting years beginning January 1, 2022 as set out in the International Education Standard 8, Professional Competence For Engagement Partners Responsible For Audits Of Financial Statements (Revised).

Hours in taxation (e.g., annual personal and corporate tax updates) do not count towards CPD for licensure unless they meet the learning outcomes identified in IES 8. It is important to ensure that your CPD course selections are related to public accounting competencies; failure to meet IES 8 requirements may result in loss of licensure.