The impact on your employer
“If everyone is committed to CPD then that will help the company they work for on a professional level,” Mr Stocks says. “On a more personal level, it can lead to greater job satisfaction and an opportunity for you to control your career direction.” When thinking about how to structure and choose your CPD you should first reflect on what skills you want to develop. It is not just about attending external courses, although these can be very helpful. There is also a lot you can do online and in the workplace, and surprisingly, you may already be doing a lot in your job that will contribute towards your CPD. “CPD is a way for members to demonstrate to employers that they are competent and continually developing,” says Mr Stocks. “From the AAT’s viewpoint, there is a responsibility for us to ensure that anyone who uses the services of an AAT member is sure that they are competent and are refreshing their skills and knowledge on a regular basis.”How CPD works
AAT has a mandatory CPD policy for its 50,000 members, most of whom are qualified accountants, with a growing number of bookkeepers joining the organisation since they were given the option to do so two years ago. Of these, 4,500 individuals are licensed to run accountancy firms or provide bookkeeping services to public, usually on a self-employed basis.What CPD means to members
Paul Smith FMAAT, is a Licensed member and runs his own business Paul R Smith Ltd, from Halifax and Florida. “I specialise in SMEs, and do everything from bookkeeping, payroll, tax and income. An SME can come to me and I will sort out everything that they need. I divide my time between the UK and US and always make sure I attend the local programmes when I am in England so that I am up to date with my professional skills.” “The AAT is the only organisation I use for my CPD because I can use the online resources and podcasts for information, and I always attend the tax updates run by my local branch,” he says. “I find these local events very useful, friendly and great for networking. Everyone knows me as I have been going since I set up my own business in 1999. It is a good way to get to talk to others in the same profession and swap tips and ideas.”AAT recommendations for planning your CPD
“Our policy is output-based so we don’t specify that you have to do a set number of hours,” Mr Stocks says. “Instead it is more about the outcomes relative to the objectives you have set yourself in professional terms.” The policy, which is currently under review, will be updated next year, and any changes that might take place will be communicated to members in October. The four-step plan recommended by AAT is:- Assess your needs on a professional level
- Plan what you are going to do
- Take action
- Take time afterwards to evaluate
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Work-based learning
- Coaching and mentoring
- Being part of a committee
- Shadowing
- Supervising
- Being an examiner or tutor
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Professional activity
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Online resources
- What is CPD and why is it important for your career?
- CPD for AAT Members: What counts as CPD?
- How can finance managers develop their employees?
Marianne Curphey is an award-winning financial writer and columnist, and author of the book How Money Works. She worked as City Editor at The Guardian, deputy editor of Guardian online, and has worked for The Times, Telegraph and BBC.