CIMA reminds members about financial penalties for CPD noncomplianceRegulation 18A introduced the Fixed Penalty Scheme for noncompliance with CIMA’s CPD monitoring requirements.
All CIMA members are required to undertake continuing professional development (CPD), which is an important part of the guarantee of professionalism that is imparted by CIMA membership. To ensure that CIMA's CPD monitoring remains robust, fair, and targeted, Regulations Part 1 13–18 (which govern CIMA's CPD monitoring requirements) were updated in March 2020. The changes were communicated to members at the time.
What were the changes?
Regulation 18A introduced fixed financial penalties for CPD noncompliance (the Fixed Penalty Scheme). Non-submission of an adequate CPD record to CIMA by a specified date when requested is considered to be noncompliance and a breach of the regulations.
A first breach of the CPD regulations will incur a fixed penalty of £100 or local currency equivalent. A second breach will incur a fixed penalty of £250 or local equivalent. A third CPD breach will result in referral to the Institute's Disciplinary Committee for consideration of further disciplinary action. Failure to pay any fixed penalty under the Fixed Penalty Scheme within 56 days of the date of sending the demand will also result in a referral to CIMA's Disciplinary Committee.
Members should note that paying a fixed penalty does not remove the obligation to submit a CPD record to CIMA when requested.
Why did CIMA implement the CPD Fixed Penalty Scheme?
Undertaking CPD and being monitored for compliance is what sets professional accountants apart from the unqualified or unregulated. In an increasingly complex business landscape, a robust CPD monitoring programme ensures CIMA members are seen as professional, relevant, and properly equipped for the demands of business now and in the future.
What action has CIMA taken so far?
Unfortunately, a small number of members do not comply with CIMA's CPD requirements. CIMA issued fixed penalties to these members and, in cases where the member has not submitted their CPD and not paid the financial penalty, they have been referred to CIMA's Professional Conduct department or removed from membership.
What can I do now?
Keep learning and use the Competency and Learning website to record your development activity. If you are selected for CPD monitoring, CIMA has a dedicated team of staff who can help you through the monitoring process.
Keep your contact details up to date
It is also important that you ensure all your contact details are up to date with CIMA so that we can contact you should you be selected for CPD monitoring. If you are selected, you must submit your record to CIMA using the Competency and Learning website or confirm you work for an accredited employer.
More information on how to meet CIMA's CPD requirements and the Fixed Penalty Scheme can be found in the CPD Monitoring section of the CIMAglobal website.
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