The Institute’s Continuing Professional Development (‘CPD’) Regulations have been revised with effect from 6 April 2022. The CPD Regulations apply to all Institute members. The revisions clarify that members who work in certain regulated areas often have additional CPD obligations set out in other Regulations or in legislation. Affected members are reminded to be cognisant of those additional CPD obligations as well as obligations under the Institute’s CPD Regulations.
In particular, revisions have been made at this time to clarify that members who are responsible individuals (RIs) have additional separate CPD obligations under the Institute’s Audit Regulations. In both Ireland and the UK, RIs are required to undertake appropriate programs of continuing education in relation to audit (Audit Regulation 3.17A). New detail has also being added to the Audit Regulations Ireland (effective April 2022) regarding how RIs are expected to demonstrate compliance with Audit Regulation 3.17A in line with IAASA’s Guidelines for the RABs on the regulation, monitoring and enforcement of continuing education for statutory auditors (‘IAASA’s CPD Guidelines’).
Revisions to the CPD Regulations also highlight additional CPD obligations for members who are subject to anti-money laundering supervision by the Institute.
The revised CPD Regulations (effective 6 April 2022) are available here.