This policy is intended to govern The Bahamas Institute of Chartered Accountants (BICA) and its members with regards to Continuing Professional Development (CPD). This policy will come into force at the beginning of the calendar year 2016.
This Policy prescribes CPD required for members to develop and maintain the professional competence necessary to provide high quality services to clients, employers, and other stakeholders, and thereby to strengthen public trust in the profession.
It is the responsibility of members to develop and maintain professional competence by undertaking relevant CPD activities. The role of BICA is to:
BICA does not preapprove any providers or courses for CPD. It is the responsibility of the member taking the course to ensure and prove that its contents meet the requirements of BICA.
To ensure that every member maintains professional competence in his area of practice, he must:
Any person who attends a CPD course shall maintain records of verifiable and non-verifiable CPD hours obtained and of the relevance of those hours to their role. In the case of verifiable hours, the records shall include proof that the individual was involved in an acceptable CPD learning activity. Examples of evidence for verification are:
Records shall be:
The following general topics would be acceptable as CPD subject matter:
Topics other than those listed above may be accepted as CPD subject matter, if the member can prove to BICA that they contribute directly to the professional development of accountants. The following are some examples of learning activities that may be undertaken as part of a planned program of CPD activity:
Instructors and presenters must be qualified to conduct CPD programs on the respective topics. BICA may require documentary evidence which speaks to the expertise of instructors. The responsibility for substantiating that a particular program is acceptable and meets BICA’s requirements rests solely upon the member enrolled in the program.
The organization sponsoring or organizing the CPD course must be a reputable organization. Hours of CPD attributed to the course must be proposed and agreed upon in advance of the course date. Courses should be pretested in order to determine an average completion time, and the proposed CPD hours should be based on that average time.
Each reporting period, all members will be required to:
Submit a declaration as to whether they met their ethical obligation to maintain knowledge and skill to perform competently; Submit a declaration as to compliance with BICA’s CPD requirements; and/or Provide evidence of learning activities or verification of competence developed and maintained.
Notwithstanding this requirement, the Council may, at its discretion, determine a sample of members to be audited for compliance with CPD requirements. Any noncompliance with CPD requirements may be subject to disciplinary action.
Council shall determine whether any course or seminar attended by a member is acceptable for obtaining CPD hours and such determination shall be final.
This policy shall remain in force until otherwise determined by The Council of BICA.
Visit our library of the rules, regulations and legislation governing the accounting industry and accounting best practices in The Bahamas
Catch up on past reports, presentations, Annual Reports and other useful documents in our archive library.
Learn the benefits of becoming a BICA Member, and download the application forms to start the process.