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The Canadian CA profession’s Public Trust Task Force has recommended uniform national minimum requirements for both Continuing Professional Development (CPD) and Professional Liability Insurance. The changes have been approved by all Provincial Institute/Ordre Councils/Bureau across the country although some Provincial Institutes will need to bring these forward to the membership for approval where changes to bylaws are required. Under the new provisions for minimum requirements for Continuing Professional Development (CPD), all members will be required to: - complete a minimum of 120 hours of CPD over a three-year cycle, including at least 60 hours of verifiable study;
- complete at least 20 hours of study annually;
- choose learning opportunities that provide for the development of new or existing competencies that are relevant to the individual member’s overall professional responsibilities and growth
The proposed national minimum requirements for Professional Liability Insurance, which will apply to all members in public accounting, are: - $1 million where one member practises public accounting;
- $1.5 million where two or three members practise public accounting;
- $2 million where four or more members practise public accounting.
Continuing Professional Development Fact Sheet
Public Liability Insurance Fact Sheet Drivers of Change Frequently Asked Questions – Public Trust Initiatives
For detailed information about how the recommended changes will affect your jurisdiction, please visit your provincial institute/ordre website.
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