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Frequently Asked Questions (FAQs)

  • What is CPD?

    Continuing Professional Development (CPD) refers to relevant learning and development activities, undertaken by professional accountants to continue to perform competently within their professional environments.

  • Who has to complete CPD?

    It is mandatory for every member to complete the CPD requirements prescribed by the Institute. However, Life Members and Members availing Career Break are exempted from doing CPD.

  • What is the requirement of completing CPD hours in one rolling period?

    The total requirement prescribed is 120 hours over a period of 3 years with the following: For the first year, 20 CPD hours are required; for the second year, 40 CPD hours and for the third year, 60 CPD hours are required.

    For new Members, proportionate rolling period will commence on first day of the month following the date of admission and will complete on its scheduled date. The CPD requirement will be prorated on the basis of 120 hours for three-year period.

  • What is the current rolling period?

    Rolling period starts on July 1 spanning three years and ends on June 30. The current rolling period is continuing from July 1, 2021 and will end on June 30, 2024.

  • What activities are recognized for CPD Hours?

    ICAP recognizes a number of learning activities as CPD as long as it is relevant to the current role or future career aspirations of Members. Some examples are:

    •     E-learning (webinars, courses, podcasts, online articles)
    •     On-Job learning
    •     Attending Seminars/workshops/conferences, etc.
    •     Participating on ICAP Council/committees/panels/discussion groups
    •     Undertaking research/ writing of books on professional interest
    •     Additional qualifications
    •     Coaching and mentoring
    •     General/Self certified readings (relevant to current or future development needs)
    •     Publications and technical articles
    •     Specific learning for Engagement Partners

  • How much CPD credit hours I receive for different activities? Where can I find detailed information about it?

    For each activity, member receives a different number of CPD hours maximum of which is 120 hours in a rolling period. For details, please check out clause 12 of the CPD Directive 8.01

  • How do I update my record for CPD hours?

    Every member is responsible for maintaining and retaining their CPD records and related evidences.
    Update the CPD record online by following the below steps:

    Step 1: Log on to Members account by visiting https://member.icap.org.pk
    Step 2: Click on Update the CPD Record
    Step 3: Enter the CPD activity and the requisite hours
    Step 4: Submit

    The records will be updated within 24 hours.

  • Why do I need to keep evidence?

    As per the CPD Directive 8.01, Sample Audit will be carried out. So, Members are encouraged to upload their evidences while updating their records on the portal, and if they are not uploading the evidences directly, then should keep the relevant records to help in the Sample Audit.

    Members are required to submit annually a Declaration in a specified format online, confirming member’s compliance with the CPD Directive.

  • What evidence do I need to keep?

    Members need to keep attendance, certificates & forms, copy of publication, confirmation of employer/ details of learning outcomes as evidence for their CPD records.

  • When will Sample Audit be carried out?

    Sample audit will be carried out at the end of three-year rolling period, therefore, Members are required to retain appropriate current records and accurate supporting documents related to their CPD activities.

  • How will I know if I have been selected for Sample Audit?

    Members who are selected for monitoring will receive a request in writing (via email), detailing a date by which their documentation needs to be submitted.

  • What if I fail to complete my CPD requirements at the end of the rolling period?

    On non-compliance of CPD hours by the end of the rolling period, Member will have to sign in the declaration form after which they will be given a period of 120 days to complete the remaining hours. On failure to comply with the requirements of the CPD Directive 8.01, the CPD Committee may recommend appropriate sanctions to the Council against the noncompliant Members.

  • What will happen if I have shortfall hours after three-year rolling period?

    To reconsider the practice of carry forwarding the shortfall to next rolling period, now only 30 hours, out of the total shortfall hours, will be carried forward to the next rolling period. Members will be required to complete their shortfall hours to avoid any sanctions, as prescribed by the Council.

  • What will happen to my excess hours at the end of the rolling period?

    In a bit to encourage CPD compliance, now CPD excess hours will not be nullified but rather 30 excess hours accumulated in the last year of the rolling period will be carried forward to the next rolling period.

  • What activities are included under Self-development and Virtual Learning?

    Self-development and Virtual Learning includes E-learning courses, webinars/watching videos/CDs of ICAP CPD programs, videos on ICAP Digital Learning Hub, Professional Ethics App ICAP, Mentoring, providing feedback (including reviewing international sponsorship applications), etc. Under this category, Members will get actual hours determined by service providers, subject to maximum of 120 hours in a rolling period.

  • Which activities are included in on Job learning and how many CPD hours do I get?

    On-Job learning includes assignments and new initiatives that provide new learning for professionals while on job. This is different from your regular job roles and pertains to the new training/assignments that a member receives while he/she is undertaking his/her professional roles. Members will get half of the actual hours spent on the assignments and initiatives, subject to maximum of 60 credit hours in three year rolling period.

  • What are the requirements for Specific Learning for Engagement Partners

    There are two options under the CPD Directive 8.01 for Engagement Partners:

    Option A: Atleast 30 hours in each rolling period in the area of Audit, Financial reporting and Accounting, Governance and Risk, Ethics, Corporate Laws, ISA and IFRS.
    Option B: In compliance with IES 8, specific learning outcomes for Engagement Partners to be covered as mentioned in Directive 8.01 Table A, Refer Annexure B, page 10.

    Note: Option B for Engagement Partners who are opting for specific learning outcomes as mentioned in Table A Annexure B of CPD Directive 8.01. Those who are opting for input approach, will do the activity mentioned in clause 12k of CPD Directive.

  • Where can I watch the CPD videos?

    Member can watch the CPD videos at the Digital Learning Hub (E-learning Platform) that was launched in 2020 for ICAP Members to enable easy access to a knowledge pool of resources in various categories such as Auditing Standards, Corporate Governance, Islamic Banking, Ethics, Risk Management to name a few. DLH is a user-friendly platform giving access to the Members across the globe to pace their learning according to their needs and requirement.

  • How can I access Digital Learning Hub?

    In order to access the resources at DLH, member needs to log on to the member account at https://member.icap.org.pk/members-home/ and then click Digital Learning Hub to start his/her learning journey and earn maximum CPD hours.

  • Who are exempted from CPD?

    Members who fall in following categories are exempted:

    •     Incapacitated or ill so that he/she cannot perform normal work however if they do hold the practice
          license or MRS status then they need to surrender the same before asking for CPD waiver
    •     Retired/Life Members
    •     Members on Career Break – have to apply each year
    •     Members holding public offices such as Federal Ministers, Provincial Ministers, Advisors to
    •     Ministers, Senators, MNAs, MPAs etc. during the currency of their offices
    •     for any other which is considered justifiable by the CPD Committee, for the reasons duly recorded.
          The exemption is only based for the period mentioned, it cannot be given on perpetual basis.

  • I am not working, do I still need to comply with the CPD requirement?

    In case a member is not working, he/she can apply for a career break. It is not perpetual and Member has to apply every year. Member should retain documentary evidence related to the waiver application for a period of three years.