cpd - The Association of Accounting Technicians of Sri Lanka

CONTINUING PROFESSIONALDEVELOPMENT SCHEME (CPD)FOR AATSL MEMBERS• The members of the Association ofAccounting Technicians of Sri Lanka(AATSL) are hereby informed thatContinuing Professional DevelopmentScheme is effective from January 01, 2009.This Revised Booklet will be effective fromApril 01, 2011.• All previous guidelines issued by AATSLwith regard to the upgrading of membersto SAT and FMAAT categories and CPDscheme are hereby cancelled.• This scheme will be revised fromtime to time in order to comply withInternational Education Standard forProfessional Accountants (IES) 7 of theInternational Federation of Accountants(IFAC) which requires a commitment tolifelong learning among all professionalaccountants.1

CPDForewordProfessionals around the world arenow required to keep their knowledgeand skills regularly updated to meet therapid changes in business environment.International Education Standards ofIFAC requires Continuous ProfessionalDevelopment (CPD) to be a life longexercise of active professionals.AATSL, to meet this need has preparedthis booklet to enable our members toplan, learn and record their efforts indeveloping skills and knowledge. Thisis the third edition (revised) that AATSLhas produced. The first edition was in2008 followed by a second revision in2009.This record will be needed whenevaluating upgrades of membership toSAT & FMAAT.Nihal De SilvaChairmanMembership & CPD Committee2

President’s MessageIt is with great pleasure that I presentthis scheme of Continuing ProfessionalD e v e l o p m e n t ( C P D ) f o r AATSLmembers. The role played by middle levelaccountants in business organizationshas become vital today, due to thesignificance of responsibilities entrustedto them. These responsibilities requirecontinued development in knowledge,skills and competence with the everchanging business environment. Beingthe regulatory body of middle levelaccountants, AATSL is committed toenhance the professional competence ofits members to perform their duties withutmost responsibilities to the standarddemanded by the business world.The International Federation ofAccountants (IFAC) has made itcompulsory for all member bodies toimplement a mandatory lifelong learningprocess for their members by releasingthe International Education Standard(IES) 7.The Governing Council of AATSL, bypartially adopting the IES decided initiallyto introduce this CPD Scheme to upgrademembership category effective from 01stJanuary 2009. The CPD Committee hasbeen requested to follow up the necessarychanges and to make necessaryrecommendations to the Council withregard to the professional developmentof our members. Accordingly, CPDScheme becomes mandatory for allmembers of AATSL at any membershiplevel, effective from 01st April 2011.As professionals, we need to gearourselves to pursue new directions andways, if we are to acquire and retainthe competency to identify problems, toassess the impacts, to develop solutions,and to manage the challenges effectivelythat we face in our professional life.I strongly believe that the CPD willimmensely help you to achieve this task.Therefore, I invite all the members of theAATSL to participate in CPD accreditedactivities actively and to comply withcontinuous professional developmentrequirements. Further, I encourage themembers who wish to upgrade theirmembership category to SAT and FMAATto earn CPD Credits as a practice ofpriority in their professional life andto make sure that they are eligible forupgrading the membership on time.I would like to appreciate the effortsof the Membership & CPD Committeechaired by Mr. Nihal De Silva andthe CPD Sub Committee headed byMr. Gayan Karunarathne for theirexcellent contribution.I wish all members success in theircareers.T. DharmarajahPresident3

CPD1. IntroductionThe Continuing Professional Development Scheme (CPD) of AATSL has beenestablished with a view of enhancing the professional skills of the members andto maintain a better relationship between the Association and its members. ThisCPD Scheme also makes a bridge between the Association and the members inorder to retain them in the membership for a long period of time. This schemeis a self regulatory continuing professional development system and will bemonitored by the Association. With the implementation of this scheme theautomatic 5 year post qualification system to qualify for SAT and FMAAT titlesceased to operate.2. Objectives of the CPD Scheme• To replace the automatic 5 year post qualification system in operation for obtainingSAT and FMAAT titles.• To Maintain and continually improve the technical knowledge and the skills ofmembers in order to obtain SAT and FMAAT titles.• To develop the personal skills of members and enhance their career development.• To provide reasonable assurance to the business community at large that AATSLmembers have the technical knowledge and skills required to perform the servicesthey are called upon to undertake.3. ApplicabilityThe CPD Scheme is mandatory for all members of AATSL at any membership level,employed either in the private or public sector, industry & commerce, non-profitorganizations or practice.4. Non- Compliance with the CPD RequirementsIf a member does not comply with the minimum requirement in a year, thatparticular year will not be counted as an active year for the membershipadvancement. Persistent non-compliance for three years whether deliberate orunintentional, may be subjected to disciplinary action.4

5. CPD Scheme for Advancement of Membership Category5.1 Advancement to SATFive years of executive level experience in one or more core areas after obtainingMAAT title and completion of 120 CPD Credits.5.2 Advancement to FMAATFive years of senior level experience in one or more core areas after obtaining SATtitle and completion of 80 CPD Credits.5.3 Direct Enrolment to SAT and FMAAT CategoriesThe scheme of direct enrolment to senior membership (SAT) with passing the finalexamination of ICASL / CIMA(UK) / ACCA(UK) and four years of relevant practicaltraining or experience and enrolment to fellow membership (FMAAT) with themembership of ICASL / CIMA(UK) / ACCA(UK) and three years of post qualificationexperience will be continued.6. CPD CreditsThe unit of measuring of the extent of CPD activity is CPD Credit, by which oneunit represents one contact hour or its substantial equivalent. AATSL will facilitateaccess to CPD opportunities and resources to assist members on their continuedprofessional education. AATSL shall recognize only the measurable and verifiableactivities for this purpose.CurrentMembershipCategoryImmediateAdvancementTotal CPD Creditsrequired foradvancementMinimum CPDCredits perannumMaximum CPDCredits perannumFMAATSATMAAT-FMAATSAT-80120050510-18285

CPD7. Transitional ProvisionsThe following concessionary scheme will be available for the members of AATSL whohave obtained the respective membership title of MAAT or SAT before January 01, 2009.Only the renewed years will be valid for this calculation.Period of present membershipcategory before 01/01/2009More than five completed yearMore than four completed yearMore than three completed yearMore than two completed yearMore than one completed yearLess than one yearFor MAAT Members1008060402010Free CPD CreditsFor SAT Members7056422814078. Access to CPD CreditsCPD Credits can be earned from the involvement in activities related to the profession infollowing areas which enhances the competence and professional skills of members.8.1 Core AreasAccounting & FinanceAuditing & AssuranceTaxation & Tax PlanningManagement Accounting8.2 Non Core AreasInformation Technology & System DesigningMarketing & Business PlanningGeneral ManagementHuman Resources Management & DevelopmentCompany & Commercial LawLeadership & Business Communication6

8.3 Number of CPD Credits Granted - Direct Measurable ActivitiesCPD CreditsAnnual Conference of AATSLTechnical Paper Presenter 8Panelist / Moderator 20Participation for all Technical Sessions 15AATSL ExaminationsPaper Setter / Moderator - Per Paper 25Paper Marking - Per Day (Max.05 days per Exam) 1Seminars and Workshops Organized by AATSLPresenter – Per Lecture 10Panelist 5Participant – Per actual contact hour 1Study Courses Conducted by AATSLPEP Certificate 20Certificate Course in Taxation 15Certificate for any IT Course 10Committees / Sub Committees / Toast Masters Club of AATSLPer Meeting (Max.02 Credits per month from 01 Committee) 1Publications of AATSLAny Article 5Self Study Texts – Entire pack 25PartParticipation in Seminars & Workshops organized by Universities,other Accounting Institutes & any other Institute approved by AATSLPaper Presenter 5Participant – Per actual contact hour 0.5Continued Education* * *MBA/ MSc / PhD}40PG Diploma Approved by UGC 25Bachelor’s Degree 20HNDA 20Passed Finalists of ICASL, CIMA, ACCA, CFA 25* *** ** * *If the activity is covering a core area, allocated CPD Credits will be doubled.CPD Credits will be given on proportionate basis.CPD Credits earned through Continued Education category can be carried forwardup to 01 year from the effective date of the qualification.***7

CPD8.4 Number of CPD Credits Granted - Other Activities• Compiling articles for newspapers and journals in subject areas• Compiling books in related areas• Participating in activities outside the Association which contribute towardsdevelopment of the business community• Innovations to the accounting profession• Research work in core areas• Any other activity pre approved by the Governing Council of AATSLMembership and CPD Committee will decide the number of CPD Credits granted for eachactivity subject to a maximum of five CPD Credits per annum.9. Reporting and Monitoring of CPD Credits9.1 Reporting PeriodThe reporting calendar for CPD Scheme is from January 01 to December 31. Any CPD Credit,not claimed by the member within 03 months from the end of each calendar year will notbe counted thereafter.9.2 Reporting by AATSLFor members those who have participated for AATSL activities, a letter/certificate statingthe CPD Credits earned, will be issued based on the attendance records available.CPD Credits granted for Non-AATSL activities will be recorded on the recommendation ofthe Membership and CPD Committee.9.3 Reporting by MemberMembers are required to submit a CPD Reporting Form annually declaring CPD activitiesparticipated during the year.Members seeking CPD Credits for Non-AATSL activities are required to submit the CPDReporting Form with a complete description of the activities, actual contact hours anddocumentary evidences for accreditation such as letters / certificates from the particularInstitutes. CPD Credits approved by the Membership and CPD Committee will be notifiedto the members.9.4 Monitoring ProcedureThe Membership Division of AATSL will annually issue a letter/certificate stating the CPDCredits earned by a member and authorized by AATSL. Members are advised to keep themsecurely as duplicates cannot be issued.10. The effective date for this CPD scheme will be April 01, 2011.8

CPD REPORTING FORM(Specimen)Period Covered : DD/MMM/YYYY to DD/MMM/YYYYMembership No.: FMAAT / SAT / MAATNIC No. :Full Name :Contact No. :Date oftheActivityDescription of the ActivityActualContactHoursCPD CreditsAATSLActivityNon-AATSLActivityApprovedCPD Credits(for office use)The above information is certified as correct.Signature of the member ................................................... Date ...................................................OFFICE USE ONLYChecked the authenticity of the above information.Signature of the authorized officer of the Membership Division ...................................................Date .......................................................Remarks .................................................................................................................................................................................................................................................................................................................................................9