________________________________________________________________________

CONTINUING PROFESSIONAL DEVELOPMENT (CPD) GUIDELINES 2014

________________________________________________________________________

1.0 Introduction
As a member body of International Federation of Accountants (IFAC), ICPAK embraces lifelong
learning as set out in these CPD requirements. This will assist members to maintain and
develop relevant skills and knowledge that will ensure they deliver effectively as professionals
and continue to remain relevant. As highlighted in the International Education Standard (IES 7),
it is the responsibility of individual member to maintain their professional development. This
document is intended to guide you on how to attain the required CPD hours and to give you the
overview of what CPD is all about. It has two parts: Background and overview and the CPD
calendar for 2013.

2.0 What is Continuing Professional Development?

The systematic maintenance, improvement and broadening of knowledge and skills, and the
development of personal qualities necessary for execution of professional and technical duties
throughout professional Accountant’s working life.

3.0 Why you need CPD

The overall aim of CPD is to develop and enhance the value of the individual as a professional.
This new approach promotes the importance of development and professionalism by focusing
on the standards expected of members. An ongoing commitment to professional judgement
based on ethics.
The ICPAK scheme is applicable to all members except fully retired members (Those who do not
perform any work paid or unpaid) and requires you as a member to:
• Reflect and consider what is required of you in your role as an accountant and finance
professional
• Take action to undertake activities that enable you to meet these expectations
• Consider the impact of the activities you have undertaken and whether they meet the
needs identified
• Confirm submit an annual declaration that you have met expectations

4.0 Who undertakes CPD

Compliance with CPD requirements is compulsory for all ICPAK members (from July 2005).

5.0 Purposes of CPD

 • CPD is concerned with maintaining necessary knowledge, skills and professional ethics
expected of you as a professional and keeping you up‐to‐date with developments within
the professions.
• CPD improves and broadens knowledge and skills intended to support professional
development.
• CPD develops personal qualities necessary to execute professional and technical duties.

5.1 Examples of Structured CPD activities

• Workshops , Seminars & Conferences
• Technical meetings and contributing to technical meetings
• Mentoring
• Published articles
• Committee work including preparation of board meetings, audit committees or other
financial services or trade organizations
• Further qualifications, e.g. MBA, CFA, CISA,CPS
• Serving as an Examiner for KASNEB or any other professional examining body in a
relevant field.

5.2 Examples of unstructured CPD activities

• Reading business sections of newspapers, professional journals e.g. The Accountant,
financial mail, the economist
• Watching technical Videos and DVDs
• Self Study that results in Professional Development

6.0 Overall CPD requirements

ICPAK facilitates access to CPD opportunities and resources to assist professional accountants in
meeting their responsibility for lifelong learning. The ICPAK CPD scheme is mandatory, requiring
members to complete 25 hours of structured and 15 hours of unstructured CPD activity per
year, which is averaged over a three‐year period (120 hours in a 3 year rolling cycle i.e. 75
structured and 45 non‐structured).

7.0 Exemption from CPD

Members over the age of 60 who are not in practice can apply for exemption from CPD by
ICPAK. If a member receives exemption but is still professionally active, he/she has the
responsibility to inform ICPAK. The request for exemption letter should be addressed to the
Training and Development Committee.

8.0 Recording CPD

It is the responsibility of each member to record his/her CPD activities for the year with the
institute. ICPAK members are required to file CPD returns indicating the CPD activities they
have been involved in during the year, using this format.
8.1 STRUCTURED

Category Date of Title of Course Attended or Course Hours Date of

A,B,C Course CPD Activity Involved Organizer Approved Approval

Total Structured ……………………………………

8.2 UNSTRUCTURED
Reading of technical, professional, financial or business literature and use of audiotapes or
videotapes

Total Unstructured………………………………………………..

9.0 Planning Own CPD

While the institute has an obligation to the International Federation of Accountants (IFAC) as
member body to monitor and provide Continuing Professional Development opportunities to
its members, each member of the institute equally has an obligation to keep up to the
professional competence expectations by engaging in CPD activities. It is advisable that each
member should plan for his/her CPD set of activities for the year probably at the beginning of
the year. The following six steps can be of benefit in planning for your CPD program:

Step 1: Define what is expected of you in your role, and future goals. Draw up brief
descriptions of these roles and expectations.

Step 2: Assess your development needs and outcomes. Compare what is expected of you in
your current, or a future role, against your current capabilities.

Step 3: Design your programme around activities you believe are relevant to your role.
Document these activities.
Step 4: Act. Undertake the development activities planned in Step 3.

Step 5: Reflect on your development activities, consider what you have learned, how you can
apply your learning and changes you would make next time.

Step 6: Evaluate your actual development against your development needs and outcomes. Any
outstanding development can be carried over into the next cycle.

The table below may be useful for your planning and monitoring of your progress as far as your
CPD obligation is concerned.

9.1 CPD PLANNING TABLE

YEAR EVENTS CPD UNITS STATUS(ATTENDED or NOT CPD

PLANNED TO EXPECTED ATTENDED) EARNED
ATTEND
1ST QUARTER1.
2.
2NDQUARTER 1.
2.
3RDQUARTER 1.
2.
4THQUARTER 1.
2.
CPD Earned in the
previous year _______________
Balance (out of 40
CPD Units) _________________
CPD Earned so far
__________

9.2 Calendars for your reference:

National CPD Calendar

 Date Event Tentative
Cost: Tentative
Cost: non‐
Venue Members members CPD Hrs

1 24th January 2014 Tax Compliance, Planning and

Management Nairobi 5,950 12,400 7

2 7th February 2014 Accounting for Employee Benefits

and Revenue: IAS 18,19&21 Nairobi 5,950 12,400 7

3 12th February 2014 Evening Talk Professional 700 1,000 2

Centre

4 19th – 21st February The 22nd Economic Symposium

2014 Nairobi 34,950 44,950 20

5 28th February 2014 Workshop Financial Reporting for Not

for Profit Organizations Nairobi 5,950 10,950 7

6 19th ‐ 21st March Annual Governance and Ethics

2014 Conference Mombasa 57,950 67,950 20

7 28th March 2014 Financial Instruments Workshop Nairobi 5,950 10,950 7

8 4th April 2014 Income Tax Workshop: IAS 12 Nairobi 5,950 10,950 7

9 9th ‐ 11th April 2014 Enterprise Risk Management

Seminar
Mombasa 57,950 67,950 20

10 16th April 2014 Professional Forum Nairobi 2,000 2,000 2

11 16th ‐ 17th April 2014 Financial Reporting for Cooperative

Societies Nairobi 11,950 21,950 14

12 23rd ‐ 25th April 2014 Seminar on Financial Reporting for

Agricultural Sector
Kisumu 34,950 44,950 20

13 30th April 2014 Seminar on Indirect Taxes , Transfer

pricing and Emerging issues in
Taxation Nairobi 5,950 10,950 7

14 7th May 2014 Video Professional

Centre 700 1,000 2
15 7th ‐9th May 2014 Financial Reporting and
Management Conference for
Counties Nairobi 34,950 44,950 20

15 7th ‐9th May 2014 ICPAK Annual Golf Tournament Nairobi TBC TBC

16 21st ‐23rd May 2014 The 30th Annual Seminar Mombasa 57,950 67,950 20

17 5th ‐6th June 2014 IPSASs Workshop Nairobi 11,950 21,950 14

18 20th June 2014 Annual Budget Review Seminar Nairobi 5,950 10,950 7

19 25th June 2014 Professional Forum Nairobi 2,000 2,000 2

20 26th ‐27th June 2014 Financial Reporting Workshop Nairobi 11,950 21,950 14

21 2nd ‐4th July 2014 Annual Financial Services

Conference & Exhibition Nairobi 34,950 44,950 20

22 10th July 2014 Video Professional

Centre 700 1,000 2

23 31st July 2014 Tax Management for Not‐for‐Profit

Organizations Nairobi 5,950 10,950 7

24 10th ‐11th July, 2014 Asset Valuation & Impairment

Workshop Nairobi 11,950 21,950 14

25 17th ‐18th July 2014 Essential Issues in Audit: A Practical

Approach Nairobi 11,950 21,950 14

26 23rd ‐25th July 2014 Annual Management Accounting

Conference
Mombasa 57,950 67,950 20

27 6th August 2014 Evening Talk Professional

Centre 700 1,000 2

28 6th ‐ 8th August 2014 C‐Suite Seminar Arusha 124,950 124,950 20

29 20th ‐22nd August Annual Internal Audit Conference

2014 Mombasa 57,950 67,950 20

30 25th ‐29th August Annual IFRSs Week

2014 Nairobi 37,950 47,950 45
31 3rd ‐5th September Public Financial Management
2014 Conference for Africa Nairobi 57,950 67,950 20

32 10th September 2014 Evening Talk Professional

Centre 700 1,000 2

33 17th ‐19th Annual Tax Conference

September 2014 Mombasa 57,950 67,950 20

34 25th ‐26th September Audit Quality Assurance Seminar

2014 Nairobi 11,950 21,950 14

35 8th‐10th October Annual Forensic Audit Conference

2014 Malindi 57,950 67,950 20

36 15th ‐17th October Financial Reporting for Cooperative

2014 Societies Kisumu 11,950 21,950 20

37 23rd ‐24th October FiRe Award Nairobi TBC TBC 14

38 29th ‐31st October Annual Practitioners' Growth Forum

2014 Naivasha 11,950 21,950 20

39 29th October 2014 Professional Forum Nairobi 2,000 2,000 2

10th ‐12th November World Congress of Accountants Rome, Italy See

2014 www.wcoa2014rome.co
m 20

40 5th ‐7th November Annual NPO Financial Management

2014 Conference Mombasa 57,950 67,950 20

41 13th ‐14th November Audit Staff Training Workshop

2014 Nairobi 11,950 21,950 14

42 19th‐23rd November The Executive Workshop South Africa

2014
Cape Town 87,950 87,950 20

43 27th‐28th November Financial Prudence Workshop for

2014 SMEs Nairobi 11,950 21,950 14

44 4th ‐5th December The Financial Reporting Workshop

2014 Nairobi 11,950 21,950 14
 Branch Events 2014

TRAINING Mombasa Nakuru Kisumu Eldoret Nyeri Kericho Kakamega Eastern

14 & 15 16 & 17 9 & 10 11 & 12

4 & 5 Nov 7 & 8 Oct 2 & 3 Oct 2 & 3 Oct
Oct Oct Oct Nov
Workshop on
CPD: 14 CPD: 14 CPD: 14 CPD: 14
Financial CPD: 14 CPD: 14 CPD: 14 CPD: 14
Hours Hours Hours Hours
Reporting (IFRS) Hours Hours Hours Hours

23 June 19 June 19 June 20 June 23 June 20 June 23 June 24 June

Budget Review
Seminar + Tax CPD: 7 CPD: 7 CPD: 7 CPD: 7 CPD: 7 CPD: 7 CPD: 7 CPD: 7
Issues Hours Hours Hours Hours Hours Hours Hours Hours

26 & 27 9 & 10 11 & 12 23 & 24 28 & 29 25 & 26 29 & 30

18 & 19 Aug
Aug Sept Sept Sept Aug Sept Sept
Public Finance
CPD: 14
Management CPD: 14 CPD: 14 CPD: 14 CPD: 14 CPD: 14 CPD: 14 CPD: 14
Hours
Seminar Hours Hours Hours Hours Hours Hours Hours

1 & 2 July 15 & 16 5&6 17 & 18 30 & 31

7 & 8 April 7 & 8 Aug 3 & 4 July
CPD: 14 July Aug July July
CPD: 14 Hours CPD: 14 CPD: 14
Forensic Audit Hours CPD: 14 CPD: 14 CPD: 14 CPD: 14
Hours Hours
Seminar: Hours Hours Hours Hours

26 & 27 13 & 14 11 & 12

25 & 26 Feb 4 & 5 Feb 4 & 5 Feb 6 & 7 Feb 6 & 7 Feb
Feb Feb Feb
CPD: 14 CPD: 14 CPD: 14 CPD: 14 CPD: 14
ISA + Audit Staff CPD: 14 CPD: 14 CPD: 14
Hours Hours Hours Hours Hours
Training Hours Hours Hours

27 March 27 March 27 March 27 March 27 March 28 March 27 March 27 March

Professional
Forum/Evening CPD: 7 CPD: 7 CPD: 7 CPD: 7 CPD: 7 CPD: 7 CPD: 7 CPD: 7
Talk Hours Hours Hours Hours Hours Hours Hours Hours

27 & 28 Nov 2 & 3 Dec

Annual Tax CPD: 14 CPD: 14

Forum Hours Hours
IN‐HOUSE TRAINING

The Institute also organizes in‐house training for organized groups and formal organizations.
We offer trainings in financial management, Tax, IFRSs, Risk Management, Audit and corporate
governance amongst others. Please contact us early to book for your organization’s in‐house
training. Some of the organizations that have benefitted from our trainings are:

ORGANIZATION TRAINING
KASNEB, Management Staff Training on Risk management
Egerton University, Finance Dept Training on Risk management and RBIA

and Audit Committee

University of Nairobi, Finance Training on Risk Based Internal Audit, Fraud and Risk
Staff management
KTDA Workshop on Financial Reporting
Kenya Power Workshop on IFRSs, Corporate Governance and
Sustainability Reporting
Kenya Seed Company IFRSs Immersion Workshop
NHIF Internal Audit and Risk management
Oxford University Press Finance for non‐finance managers
APHRC Finance for non‐finance managers
KCB S&L Corporate Governance
Rural Electrification Authority Enterprise Risk Management
Daystar University COSO Framework
James Finlays IFRSs, Taxation and Financial management
Homegrown K Ltd IFRSs, Taxation and Financial management

Conclusion

A fundamental principle of the ICPAK Code of Ethics for Professional Accountants states that,
A professional accountant has a continuing duty to maintain professional knowledge and skill at
the level required to ensure that a client or employer receives the advantage of competent
professional service based on current developments in practice, legislation and techniques. A
professional accountant should act diligently and in accordance with applicable technical and
professional standards in all professional and business relationships.”

The CPD requirement is not only a key component of a members’ “good standing” status but is
also important for the promotion of competence and integrity in the profession and for the
individual member’s personal development.