The Importance of CPD Training for Accountants
Jul 29, 2024
Continuing Professional Development (CPD) is essential for accountants to maintain their knowledge, enhance their skills and stay updated with our evolving industry standards. Not only is CPD a regulatory requirement but now more than ever has become a necessity that ensures accountants provide the highest quality service to both their clients and employers. Here’s why CPD training is crucial for accountants:
Staying “future proof” and competitive
In a competitive industry, staying updated with the latest trends and technologies gives accountants a competitive edge. CPD training allows accountants to learn about new tools and techniques that can improve efficiency and provide better services to clients. Especially with AI changing our industry at a rapid rate, if you don’t learn and move with the times, you will get left behind.
Enhancing your own career
Regular and varied CPD training demonstrates a commitment to professional growth, making you more attractive to employers. It opens up opportunities for career advancement by ensuring you have the latest knowledge and skills needed to excel in higher (often more $$ lucrative) roles.
The obvious one: Compliance
CPA Australia require a minimum of 20 hours a year plus a total of 120 hours over 3 years. 2 of these hours per year must be on ethics related topics (10 hours total on ethics over the 3 year period)
Improving client confidence
Clients expect their accountants to be knowledgeable about the latest developments in accounting and finance. CPD training helps build client confidence as it ensures that accountants are well-informed and capable of handling complex financial situations using the best tools possible.
Networking opportunities
CPD events, such as seminars, workshops, and conferences, provide excellent networking opportunities. Accountants can connect with peers, share knowledge, and discuss industry challenges, which can lead to professional growth and collaboration opportunities. Who doesn’t love a conference!
Moving with tech
The rise of digital technology has transformed the accounting profession. CPD training helps accountants learn about new software, data analytics, and other technological advancements that can streamline their work processes and improve accuracy.
CPD training has always been a vital component of an accountant’s professional life. It ensures that you remain competent, compliant and importantly, competitive in our rapidly changing industry. By investing in CPD, accountants not only enhance their own careers but also contribute to the overall credibility and integrity of the accounting profession. Whether through formal courses, workshops, or self-directed learning, continuous development is key to thriving in the accounting field.
At Future Proof Accountants, we offer regular, live and engaging webinars on a wide range of topics, generally with a focus on systems and ways for accountants to make their lives easier. We are very passionate about AI with our director, Neha currently undertaking her Masters of AI at LaTrobe University.
How we can help with your CPD needs:
Upcoming live webinars:
Pre recorded webinars:
A cloud membership with options for access to our library of content to be viewed at your convenience:
