Compulsory continuing education
Given the rapid pace and scope of changes to their profession, chartered professional accountants must continually maintain, update, improve and enhance their knowledge and skills in areas in which they work.
In addition, since January 1, 2006, the International Federation of Accountants (IFAC), of which the CPA profession is a member, requires all professional accountants to devote a minimum of 120 hours per three-year period to continuing education. In keeping with the Order’s mission to protect the public and in accordance with the applicable regulation respecting compulsory continuing education, each member must devote at least 120 hours of continuing education activities with a direct link to their professional activities, including a minimum of 25 hours per reference year.
Under the applicable regulation respecting compulsory continuing education for CPAs who practice public accountancy, each CPA who practices public accountancy is required to devote at least 60 hours per three-year reference period to structured continuing education activities in specific areas, namely financial reporting and updates of generally accepted audit and review standards, with a minimum of 15 hours per reference year.
These requirements are part of the general requirements of the applicable regulation respecting compulsory continuing education under which at least 120 hours per three-year period must be devoted to continuing education, with a minimum of 75 hours of structured activities.
For more details, go to the CPA requirements section.