All professional accountants are to maintain professional knowledge and skills at the level required to ensure that clients or employers receive competent professional service; and to act diligently in accordance with applicable technical and professional standards when performing professional activities or providing professional services(1).
As a guide to audit professionals who are non-public accountants, ISCA recommends that these audit professionals should attend at least 20 hours of structured learning each year. The majority of the structured learning hours should be in three core areas – Financial Reporting Standards and Pronouncements (Category 1), Ethics and Professionalism (Category 2), and Auditing Standards, Pronouncements and Methodology (Category 3) - as shown in the table below.
CPE hours in each rolling 3-year period
Cat 1 - Financial Reporting Standards and Pronouncements
|Cat 2 - Ethics & Professionalism||2||6|
|Cat 3 - Auditing Standards, Pronouncements and Methodology||6||18|
|Other Relevant Area|
(e.g. Taxation, Governance & Risk Management, Information Technology, Leadership competencies etc.)
|Total Structured CPE Hours||20||60|
(1) Section 130 ISCA Code of Professional Conduct and Ethics