Guidelines on Continuing Professional Education for undergoing CPE Activities by Members of ICAI

The Institute of Chartered Accountants of India (ICAI) has issued 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 worked with a constructive mindset, empowering members through training and activities that include a full CPE calendar.

The ICAI identified CPE as a major area of focus for its members in order to enable them to maintain the required high quality standards in professional services and professional competence. As a result, in 2003, the ICAI issued the Statement on Continuing Professional Education, 2003, which prescribed the norms for members to undertake CPE activities and the mechanism to implement the same by POUs. CPE Statement 2003 has been modified from time to time and remains valid until the CPE Statement is enforced in 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 the development of their professional base, skills, and expertise, the Council of ICAI through the CPE Committee regularly issues or amends CPE Advisories/ Guidelines under Section 15 of the Chartered Accountants Act 1949.

Furthermore, in the exercise of the powers conferred by 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 decided to issue the “Statement on Continuing Professional Education, 2023” for members to undertake CPE activities and the mechanism to implement the same by POUs.

This includes consequential penalties for noncompliance with CPE hours requirements applicable to various categories of members on an annual basis beginning in Calendar Year 2024, as agreed by the ICAI Council. These consequential provisions will take effect on January 1, 2025, for non-compliance from the Calendar Year 2024 onward.

Detailed Statement on Continuing Professional Education, 2023 is hosted on the ICAI portal. Members are requested to go through the aforesaid Statement and ensure compliance as per Continuing Professional Education Statement, 2023.

For any further clarifications/queries, members may reach out to the CPE Committee through e-mail at [email protected].