How accountants can get CPA CPD without spending a small fortune
Introduction
Continuing education is important for all CPAs as it provides them skills and the latest information about the industry. Hence, every CPA is required to meet their CPA CPD requirements for license renewal.
There are numerous platforms offering CPD courses. But, just because CPD is necessary for CPAs, all these platforms offer courses at high rates. So, how are you going to plan your CPA CPD without spending a lot of money?
In this blog, we will answer all the questions that might hit your brain for a successful career at minimum financial expenses. Platforms like MYCPE ONE and Lumiq also offer free CPD courses that you can complete through self-study.
Understanding CPA CPD Requirements
Continuing Professional Development (CPD) is the foundation that helps CPAs maintain their professional competence throughout their careers. CPD activities develop and maintain capabilities that help professionals perform their roles effectively.
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CPAs should understand the significant difference between verifiable and unverifiable CPD:
Verifiable CPD has activities that produce objective evidence of learning, such as:
- Courses, conferences, and webinars with attendance verification
- Research projects resulting in presentations or reports
- Technical committee participation
- Published professional articles or papers
Unverifiable CPD includes activities without tangible evidence, such as:
- On-the-job training
- Self-study without formal assessment
- Technical reading of professional journals
CPAs must keep detailed records of all CPD activities for at least five years. Provincial CPA bodies may conduct random audits of these records.
CPD requirements go beyond compliance. They ensure CPAs stay current with regulatory changes and industry developments.
Affordable Ways to Earn CPA CPD Credits
Need affordable ways to meet your CPA CPD requirements? Let me share six budget friendly strategies to earn those credits:
1. Professional Association Memberships
Joining professional accounting associations often provides access to a wide range of CPD resources at minimal costs. These associations frequently offer discounted or even free CPD events, seminars, and workshops for their members.
So, if you want to earn your CPD credits without spending a lot of money, then memberships with professional associations for CPD is the best solution.
2. Online Self-Study Courses
When it comes to self-study course materials, you can't just deny the advancing features of self-study courses. These materials are often more cost-effective than attending formal training programs and provide flexibility in terms of learning pace.
3. In-House Training
In-house training sessions can be tailored to address specific skill gaps or industry updates, offering CPD opportunities at little to no cost. Every company or organisation wants expert employees, hence these organisations prefer providing in-house training to their employees.
Attending in-house training for CPD credits is always the preferred option, as you can earn credits at your organisation while working.
4. Networking and Peer Learning
Engaging in professional networking activities and forming study groups with peers can create opportunities for knowledge sharing and CPD. Accountants can discuss industry trends, share experiences, and learn from each other, all without incurring additional expenses.
5. Online Learning Platforms
Utilizing online learning platforms that offer a wide range of courses in accounting and finance can be a cost-effective way to earn CPD credits. These platforms often have subscription-based models, allowing accountants to access multiple courses for a reasonable fee.
6. Industry News and Publications
Staying updated with industry news, publications, and journals can contribute to CPD. Accountants can subscribe to relevant publications or access online resources that provide insights into regulatory changes, emerging trends, and best practices.
If you are still confused about how and where to earn CPD credits, No worries!
At CPE Course Review, you can compare various CPD providers on different parameters, including the number of courses, approvals of governing bodies, cost of courses, offers available, and many more.
How to Choose the Right CPA CPD Course
The ideal selection of CPA CPD courses goes beyond the price tag. You should think about content quality and delivery format to get the most from your learning experience.
Here are the key factors to compare providers:
- Course variety - Find providers with courses in all 19 study fields including accounting, audit, tax, ethics, and information technology
- Credentials - Pick providers registered with the National Association of State Boards of Accountancy (NASBA)
- Convenience features - Look for platforms that store your CPE certificates and make tracking easy
- Payment options - Several providers have flexible payment plans starting at $30 monthly
Subscription packages give you better value than buying individual courses. Providers like MYCPE ONE offer unlimited CPE credit subscriptions so you can take all the courses you need.
The right CPD course strikes a balance between cost and quality content that builds your professional skills instead of just meeting compliance requirements.
FAQs
There are several cost-effective methods to earn CPA CPD credits, including online self-study courses, professional association memberships, webinars and virtual events, subscription packages, employer-sponsored training, and in-house training programs. These options allow accountants to fulfill their CPD requirements without overspending.
CPAs are required to complete 120 CPD hours over a 3 year rolling period, with a minimum of 20 hours annually. At least 60 hours (50%) must be verifiable, including 4 verifiable hours in professional ethics.
Verifiable CPD includes activities that produce objective evidence of learning, such as courses with attendance verification and research projects resulting in presentations. Unverifiable CPD encompasses activities without tangible evidence, like on the job training and self-study without formal assessment.
Yes, there are free CPD resources available. Some professional accounting associations offer complimentary CPD courses to members. Additionally, platforms like MYCPE ONE and Lumiq provide free webinars and self-study courses for CPAs to earn CPE credits after registration.
When selecting a CPA CPD course, consider factors such as course variety, provider credentials (e.g., NASBA registration) convenience features like CPE certificate tracking and flexible payment options. Look for courses that offer quality content across various fields of study and align with your professional development goals.
CFO, AZSTEC LLC LinkedIn
Imtiaz Munshi, CPA (US), serves as the CFO of Azstec, LLC and is a trusted advisor to high-net-worth entrepreneurs. With 25 years of experience as a seasoned tax planner and business strategist, he helps businesses grow smarter and stronger. Imtiaz excels at guiding entrepreneurs and enterprises through complex financial choices with clarity and confidence. His expertise lies in simplifying strategy, optimizing tax outcomes and driving sustainable, long-term growth. Through his work and thought leadership, Imtiaz continues to empower CPAs and business leaders to stay ahead in a rapidly evolving financial landscape shaped by AI, ESG priorities and data-driven transformation.
