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To continue to use the designation, CA-designated Investigative and Forensic Accountants (CA•IFAs) are subject to the Rules of Professional Conduct of the Canadian Provincial Institute of Chartered Accountants/Ordre of which they are a member, and will be required to confirm annually: - continued membership in good standing with the relevant Canadian Provincial Institute of Chartered Accountants/Ordre;
- compliance with continuing practice hours1 comprising not less than 500 Qualifying Hours each year; and
- compliance with IFA Alliance continuing professional education (CPE) requirements:
- 60 hours of CPE related to the IFA Alliance Body of Knowledge over a rolling 3-year period.
- The education should be made up of structured CPE, including attending or presenting at formal education courses, professional development courses, seminars, conferences, and in-house training.
- Up to 10 hours per year may be made up of unstructured CPE, including instruction preparation, article preparation, research and writing, examination/assignment marking, and private reading.
- Even though the requirement is expressed in terms of a three-year period, CA•IFAs should report CPE activities annually, including names and duration of programs undertaken. The continuing education committee may request support for programs undertaken on a random basis and on reports where it believes more information is necessary.
Annual reporting of continuing practice hours and continuing education hours covers the period January 1st to December 31st.
Each year a number of these confirmations will be subject to verification.
In addition, a quality control process will be developed under which a certain number of CA-designated IFAs will be reviewed each year.
Note 1. A CA-designated IFA may fall below the established continuing practice hours for periods of time of up to two consecutive years. |
