Patterns of Learning in the Accountancy Profession Under an Output-Based Continuing Professional Development Scheme

Abstract

Since 2004, professional accountancy bodies in membership of the International Federation of Accountants (IFAC) have been required to adopt mandatory continuing professional development (CPD) schemes. This research explores the learning activities of members of the Institute of Chartered Accountants in England and Wales (ICAEW) which introduced an output-based CPD scheme in 2005. To do so, a survey was carried out among its members. The findings show that the ICAEW's output-based scheme has given responsibility for learning to the individual. With the exception of those not currently in work, both formal and informal learning activities are perceived as being equally relevant. However, accountants are far less likely to describe their informal learning activities as CPD. In an environment where careers are likely to last longer and to involve more transitions, learning activities still primarily focus on competence in the current role rather than on developing skills to support future careers.

Keywords:

• Continuing professional development
• accountancy profession
• output-based standards
• ICAEW
• IES 7

Acknowledgments

Thanks are due to members of the BAFA Special Interest Group – Accounting Education, whose encouragement at their 2011 Annual Conference, and at a subsequent workshop, has led to the development of this paper.

The work reported in this paper was partly developed during the author's studies for her Doctorate in Education with the Centre for Research in Education and Educational Technology at The Open University.

Notes

In the UK, the Royal Mail aims to deliver first-class mail on the next working day. This was used to ensure the questionnaire arrived at business addresses by mid-week and at home addresses in time for the weekend.

A portfolio career involves the simultaneous pursuit of two or more employment or self-employment opportunities, each usually on a part-time basis.

Additional information

Notes on contributors

Hilary Lindsay

This paper was edited and accepted by Richard M. S. Wilson.