(Effective on 1 December 2023)
The CPD compliance requirements of the six member bodies of the Global Accounting Alliance (GAA) (of which the Hong Kong Institute of CPAs (HKICPA) is also a member) listed below are now recognized by the Institute except for Practising Certificate (PC) or Specialist Designation (SD) holders or Responsible Persons of registered Public Interest Entity auditor (RP). This means that, except for PC or SD holders or RP, members of HKICPA who are also members of one or more GAA member bodies need only fulfil the CPD requirements of one of those GAA member bodies (of which the HKICPA member is also a member) and, in so doing, shall be deemed to satisfy HKICPA’s CPD requirements.
The other six GAA member bodies are:
1. Chartered Professional Accountants Canada (CPA Canada)
2. Chartered Accountants Australia and New Zealand (CA ANZ)
3. Institute of Chartered Accountants in England and Wales (ICAEW)
4. Chartered Accountants Ireland (CAI)
5. Institute of Chartered Accountants of Scotland (ICAS)
6. The South African Institute of Chartered Accountants (SAICA)
As an example, a member of HKICPA who is also a member of the ICAEW, may choose to meet the CPD requirements of either HKICPA or ICAEW: if that member chooses to meet the CPD requirements of the ICAEW then he or she will be deemed to meet the HKICPA CPD requirements. Such members are expected to choose which member body’s CPD requirements to comply with for a full CPD reporting year, i.e. 1 December to 30 November of the following year.
Members satisfying HKICPA’s CPD requirements by satisfying another GAA member body’s CPD system are still required to complete the HKICPA annual declaration of CPD compliance. If selected for audit, such members will be required to produce their CPD records to meet that GAA member body’s CPD system. HKICPA may seek relevant confirmation of CPD compliance with the relevant GAA member body as appropriate.
When a GAA member body requests information about a member's CPD compliance status with the Institute, HKICPA may disclose the relevant information to that GAA member body unless the member has stated in their CPD declaration that they do not want the information to be disclosed to that GAA member body.
