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Reminder: Public Accounting and Continuing Professional Development

Regulatory Standard Edition: October 2023 | Published: October 17, 2023

Members applying for a new Public Accounting Licence (PAL), or those who are renewing their existing PAL, are reminded that they 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 are set out in International Education Standard 8, Professional Competence for Engagement Partners Responsible for Audits of Financial Statements (Revised) (IES 8).

Please note that 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 CPD course selections are related to public accounting competencies and the learning outcomes identified in IES 8. Failure to do so will impact PAL eligibility.