CPD Requirements for IFA

Members of the Institute of Financial Accountants (IFA) must complete 40 hours of Continuing Professional Development (CPD) annually, of which 20 hours must be verifiable. The CPD year runs from January 1 to December 31.

Planning CPD:

Members are expected to review their personal, professional, and business development needs each year, identify knowledge gaps, and select CPD activities that support their ongoing competence and career aspirations. CPD may be undertaken from any valid provider—it does not need to be obtained directly from the IFA.

Acceptable CPD Activities:

• IFA Direct units
• Training courses, conferences, seminars, workshops, or IFA networking events
• Online learning or training
• Studying for professional exams with testing
• On-the-job training, secondments, or shadowing
• Mentoring, coaching, or performance feedback
• Participation in boards, committees, or professional networks
• Writing technical, professional, or academic publications
• Researching subject matter and engaging in professional discussions

Verifiable CPD:

At least 20 hours per year must be verifiable. Verifiable CPD must:

• Be related to the member’s professional role or career development
• Be supported by evidence (e.g., certificates, exam results, course outlines, employer confirmations, appraisals, or formal assessments)
• Relate to a defined learning outcome

Recordkeeping and Monitoring:

• CPD records must be maintained for six years after the year of completion.
• The IFA provides an online CPD recording facility, or members may maintain their own log.
• Evidence of attendance or completion must be retained.
• Each year, the IFA randomly audits a sample of members. Those who fail to complete their annual CPD declaration are automatically selected for review.
• Members must co-operate with monitoring and enforcement or face potential disciplinary action.

Exemptions and Reductions:

Members may be exempt if they provide no accountancy services, hold no fiduciary roles (e.g., trustee, director), and do not intend to resume such services. Retired members meeting these criteria are exempt unless undertaking voluntary roles relying on their expertise, in which case pro-rata CPD applies.

Members may request a reduction if on a career break or if newly joined within the past 12 months.

LearnFormula is not affiliated with the Institute of Financial Accountants. For full information, please visit: https://www.ifa.org.uk/members/cpd-requirements