CPD under ICAEW

Been in industry for 9 years without major updating

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So I left practice about 9 years ago and up until that point, I used to go on CPD update courses quite frequently. But since leaving and going into industry, I haven't gone on these courses anymore as haven't felt the need to, especially as I have been doing mainly commercial roles involving business partnering and management accounts (rather than statutory & technical type roles). Also my employers haven't sent me on such courses.

I have occasionally tried to do some reading though thinking I can stay on top of it. But if I am honest it goes into my brain cells, stays there for about one hour and then leaves my brain and this is because I don't really use it in my role. So it seems like a waste of time to read up on things like IFRS 16 - leases.

Could this lack of staying up to date hinder me from progressing in industry if I wouldn't be eligible to apply to roles that require some statutory accounts & accounting standards knowledge? Or should I not worry too much if there are plenty of roles out there that don't require it (or only require this to a minimal extent)?

And more importantly, are there any soft courses I can go on without exams that can update my knowledge from 9 years ago to today? I am not referring to the CPD updates as I get the impression they are for people who aren't as rusty as I am. I don't need to be updated on everything, just the things that matter.

Thanks.

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By badgmalt
04th Oct 2018 10:22

If it doesn't hinder you, then it certainly should do.

Even before CPD days it was important to stay up to date as a minimum requirement, let along "develop". Whilst I appreciate that the technical stuff such as standards are a little dry, they have to be considered in all aspect of financial strategy so CPD in these areas remains relevant.

In addition, there are some excellent courses around dealing with other technical issues that frequently change such as tax. Again, staying up to date with changes in tax legislation are relevant for roles that are not in professional practice.

Finally, there is a whole body of CPD that you can do in the field of management and leadership. If you're not ambitious enough to seek top finance jobs, fair enough they may not be relevant, but if you are then they certainly will be.

Don't forget that you future membership relies on your successful completion of relevant CPD, both formal and informal. Your qualification is a gateway to future development, not the end, and it must remain fresh and relevant to your work both now and in the future, so in my humble opinion you can never stop learning.

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