ICAI CPE Statement 2023: Guidelines for Continuing Professional Education

The Continuing Professional Education Committee (CPEC) of the Institute of Chartered Accountants of India (ICAI) plays a pivotal role in setting strategic directions for Continuing Professional Education (CPE) activities. The recently issued “Statement on Continuing Professional Education, 2023” aims to guide ICAI members in enhancing their professional competence. This article delves into the key aspects of the announcement, outlining guidelines and implications for members.

Detailed Analysis:

1. Background and Evolution: The ICAI, recognizing the dynamic nature of the business environment, has been actively involved in evolving CPE norms. Since 2003, the CPE Statement has undergone amendments to align with the changing landscape of professional services and global practices. The latest update, CPE Statement 2023, reflects a proactive approach to keep members abreast of evolving requirements.

2. Council’s Decision and Legal Framework: Empowered by the Chartered Accountants Act 1949, as amended in 2022, the ICAI Council decided to issue the CPE Statement 2023. This statement outlines the mechanisms for members and Programme Organising Units (POUs) to undertake CPE activities. Additionally, the Council introduced provisions for non-compliance with CPE hours’ requirements, applicable from the calendar year 2024 onwards.

3. Consequential Provisions and Applicability: The consequential provisions for non-compliance with CPE hours’ requirements come into effect from January 1, 2025, for issues arising from the Calendar Year 2024. Members are urged to familiarize themselves with the detailed statement, hosted on the ICAI portal, to ensure compliance. The document can be accessed at ICAI CPE Statement 2023.

4. Contact Information and Queries: To address any clarifications or queries, members can reach out to the CPE Committee through the provided email address: cpeadmin@icai.in. The committee is committed to assisting members in understanding and complying with the CPE guidelines.

Conclusion:

The issuance of the “Statement on Continuing Professional Education, 2023” by the ICAI CPE Committee signifies a proactive approach towards enhancing the professional competence of its members. As the business landscape evolves, adherence to these guidelines becomes crucial for chartered accountants to maintain high-quality standards in their services. Members are encouraged to thoroughly review the detailed statement and ensure compliance to stay abreast of the dynamic professional environment.

Note: This article is a general overview and should not be considered as legal advice. Members are advised to refer to the official documentation for precise information.

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Continuing Professional Education Committee
The Institute of Chartered Accountants of India
30th January, 2024

Announcement

Issuance of CPE Statement, 2023: Guidelines on Continuing Professional Education for undergoing CPE Activities by Members of ICAI

The Continuing Professional Education Committee (CPEC) a non-standing committee of the Council of the ICAI is entrusted with the task of setting strategic directions and overseeing CPE activities of Programme Organising Units (POUs), members, etc. under the directions of the Council. CPEC has always been working with a constructive thought process and empowers members through training and programmes with a very comprehensive CPE calendar.

With a view to enabling its members to maintain the requisite high quality standards in the professional services and the professional competence, the ICAI identified CPE as a major area of focus for the members and accordingly, in the year 2003, the ICAI had issued the Statement on Continuing Professional Education, 2003 prescribing the norms for undergoing CPE activities by the members and the mechanism to implement the same by POUs. CPE Statement 2003 was amended from time to time and is applicable till enforcement of CPE Statement, 2023.

To enable the members to remain in tandem with evolving requirements of business and economy; with contemporary global practices and also help them in development of their professional base, skills, and expertise, the Council of ICAI through CPE Committee regularly issues or amends CPE Advisories/Guidelines under Section 15 of the Chartered Accountants Act 1949.

Further, in exercise of the powers conferred by the section 15(2) (fa) of the Chartered Accountants Act 1949 as amended by the Chartered Accountants (Amendment) Act, 2022 (No. 12 of 22), the Council of ICAI at its 426th meeting had decided to issue “Statement on Continuing Professional Education, 2023” for undergoing CPE activities by the members and the mechanism to implement the same by POUs. This includes consequential provisions for non-compliance with CPE hours’ requirements applicable to various categories of members on yearly basis from Calendar Year 2024 onwards as decided by the Council of ICAI. These consequential provisions are applicable w.e.f. 1st January, 2025 for non-compliance arising from the Calendar Year 2024.

Detailed Statement on Continuing Professional Education, 2023 is hosted on ICAI portal and accessible at https://resource.cdn.icai.org/78720cpe63012.pdf

Members are requested to go through the aforesaid Statement and ensure compliance as per Continuing Professional Education Statement, 2023.

For any clarifications/Query, members may reach to the CPE Committee through e-mail at cpeadmin@icai.in;

Regards

Chairman
CPE Committee of ICAI

Vice-Chairman
CPE Committee of ICAI

Continuing Professional Education Committee
The Institute of Chartered Accountants of India,
‘ICAI Bhawan’
A-29, Sector – 62,
Noida – 201309 (Uttar Pradesh)
Telephone – 0120-3045957/981
Email: cpeadmin@icai.in, ajeet@icai.in
Website: www.icai.org, www.cpeicai.org