CPA CPD 101 Part 5: Requirements: Tracking and Reporting CPD
It is important that you keep track of your CPD points on a regular basis or for those of us who must report 120 points by December 31, 2015 will be completing this on our Christmas break or worse yet on New Year’s Eve. I usually take some time every 3 to 4 Saturdays to get caught up. Here’s CPA Ontario’s regulation on Tracking and Reporting CPD.
Tracking and Reporting CPD
Each year, in conjunction with the Annual Membership Dues process, Members must submit a CPD Declaration form, declaring whether they met the CPD requirement, did not meet the requirement or are exempt from the requirement. Members are required to retain professional development supporting documentation (for example, the course description or outline) and records of enrollment. It is recommended that records be kept for a total of seven years for possible review or audit by CPA Ontario.
There is an online tracking tool to assist Members in keeping track of CPD hours. At any time during the year Members may enter, update and track their professional development information and save it in the Online CPD Log. Alternatively, Members may use a paper copy of Form 4-5E: CPD Log to track their professional development hours.
On an annual basis CPA Ontario will select Members to be audited for compliance with the CPD requirements.
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