The design for the institute's CPD program was approved by council and was introduced in two stages. Stage one was a 12 month orientation commencing 1 July 2011. During this period the proposed model was tested allowing for comment and some re-engineering, This feedback has now been received and has been incorporated to this version]. Stage two was the formal introduction of the program which commenced on 1 July 2012.
The one year orientation period also gave providers and educators an opportunity to submit programs to the institute for ICMA endorsement of specific courses and to attain accredited provider status.
- CMA status members will be required to earn 30 points averaged over a 3 year period (10 points per annum).
- CMA status members residing in countries that have established branches (e.g. Hong Kong) may require additional CPD points due to the dynamic nature of the commerce in those countries.
- Members residing in Hong Kong should contact the Hong Kong Office for specific CPD requirements in the region.
- The following CPD Evidence form would need to be completed.
- AMA status members will be required to earn 24 points averaged over a 3 year period (6 points per annum).
- At this stage, GMA, RBA, RCA & CAT members will not have to maintain the CPD requirements
- Undertaking On-line CPD training will obtain the designated equivalent CPD hours for that program as advertised.
- Attendance at a program held under the auspices of an ICMA accredited provider will earn the attendee two points per hour.
- Programs conducted by universities, other professional bodies, in-house corporate programs, seminar organizers and training institution are acceptable, if relevant to the practice of financial management/managerial accounting. Attendance under the auspices of such external providers will earn one point per hour.
- For academic members, conducting courses, writing academic and professional journal articles will also be acceptable as CPD hours. A journal article equates to 30 hours of CPD. [Please provide photocopies of content of courses attended/ presented or journal articles written]
- No points are to be allocated for reading.
- Members engaged in formal study under the auspices of a recognised tertiary education institution will be able to seek exemption from the points system during their years of study.
The design committee decided that requesting members to devote between 6 and 10 hours per annum to their continuing professional development is not onerous and indeed is mandatory for the maintenance of knowledge and professional skills.
The institute has implemented a number of processes so that the system functions effectively.
CPD committee (CPDC)
The education committee has appointed one of its members to take responsibility for the program together with an experienced practitioner to be nominated by the ICMA council, thus ensuring that oversight for the CPD program is approached from both an academic and a practical perspective. The two persons responsible for CPD oversight will constitute the CPD committee (CPDC)
A core requirement for success will be the availability of ICMA accredited courses accessible to all members either through education partners or the central website. In all locations where education partners have been appointed, access to accredited programs will be through the partner network. In other locations, access will be via the CMA website.
An ICMA Accredited Provider’s CPD course will attract 2 hours of CPD for every hour of activity undertaken.
Any member with an idea for a CPD program and the knowledge and educational skills to prepare a course should submit an outline to the ICMA Chief Executive Officer in Melbourne who will forward the outline to the CPDC for consideration to be an 'Accredited Provider'. The CPDC will then initiate further contact with the author.
Courses accepted by the CPDC and released for access to the membership will attract a royalty or a fee, the ultimate choice being dependent on the nature of the program, how it is to be distributed, the fee it may attract, and how it is delivered and administered. Please contact the CEO for a fee schedule.
A number of other ICMA Accredited CPD programs are now offered via the Academy of Finance and Management Australia (AFMA).
The ICMA has also negotiated for CMA members to get Recognised Prior Learning credit (10 courses out of 12) for the MBA offered through Calwest University in Northridge, California, USA.
Other programs under consideration are in risk management, international business, IT and data processing, case studies on corporate strategy, carbon accounting and the strategic audit.
Members should also note that ICMA will accredit the hours attended at programs delivered under the auspices of other bodies. CPD hours will be granted of 1 hour for hour of activity undertaken. Credit will be given provided the required disclosure is made on the CPD compliance record which members must maintain and submit at the end of each 12-month cycle. The form is now available for downloading from the ICMA website