The CPA Ontario Council’s changes to the Continuing Professional Development (CPD) Regulation 7-2 alter the CPD requirements for certain new and retired members.

By Chris Pickard

In 2021, CPA Ontario approved changes to their Continuing Professional Development (CPD) Regulation 7.2, which result in modifications to CPD requirements for some new and retired members. These changes take place for reporting years beginning January 1, 2022, and impact annual compliance declarations made in 2023. CPA Ontario made these changes to reflect best practices and requirements of international standards, standardize CPD requirements across the provincial bodies in Canada and support CPA Ontario’s public interest mandate.

Bottom Line (or TLDR)

Changes for CPA Ontario’s CPD requirements for 2022 and after include:

  • New members admitted before September 30th will now need to complete full CPD for that year.
  • Retired members serving on a Public Interest Entity board will now need to complete full CPD.
  • Retired members providing other professional services for a gross annual income below $41,850 have no minimum CPD requirements and those above $41,850 must now complete full CPD requirements.
  • A retired member providing accounting services to the public for any gross annual income must now complete full CPD requirements.

Requirement reminder: For a refresher on CPA CPD requirements, click here.

All CPA Ontario members (other than those who have applied for and received an exemption) must complete their CPD requirements, which include:

  • Minimum 20 hours a year, 50 % of which must be verifiable
  • Minimum 120 hours total every three years, 50% of which must be verifiable
  • Minimum four hours of professional ethics every three years, all of which must be verifiable

Changes for new members

New Members admitted through the student pathway on or before September 30 of the reporting year, are no longer exempt from CPD in that year and must complete full CPD requirements.

Changes for retired members*

The changes for retired members eliminate any use of the 50% CPD requirement and remove the CPD exemption for members providing accounting services to the public. The changes include:

  • Retired members serving on a Board of a Public Interest Entity must complete full CPD requirements (an increase from 50% CPD).
  • Retired members providing non-accounting professional services for a gross annual income below $41,850**, require no minimum CPD (a decrease from 50% for a gross annual income between $25,000 and $41,850).
  • Retired members providing non-accounting professional services for a gross annual income above $41,850, must complete full CPD (an increase from 50% for a gross annual income between $41,850 and $75,000).
  • Retired members providing accounting services to the public for any gross annual income must complete full CPD (an increase from no CPD for a gross annual income below $25,000 and an increase from 50% CPD for a gross annual income between $25,000 and $75,000).

*If a specific circumstance is not listed, no changes were made.

** Any gross annual income amount listed is for 2022. These amounts are reviewed and updated annually by CPA Ontario.

All CPA Ontario members, especially retirees who are continuing to perform accounting services, must be aware of these changes and adjust their professional development activities accordingly. Failure to complete the CPD requirements may result in a suspension and eventual revocation of a CPA membership.

At AJAG, we take a lot of pride in the fact that we’ve been in business for almost 20 years, with a mission that keeps us focused on delivering the highest quality and most relevant CPA PD content in Canada. To help you stay up to date with your annual PD requirements, check out our full course listing HERE.