The accounting profession in Australia is constantly evolving. Changes in regulations, advancements in technology, and growing demand for specialized expertise mean Certified Practising Accountants (CPAs) must keep learning and updating their skills. This guide outlines the competencies CPAs need to stay competitive, with a focus on the requirements set by the three main professional bodies: Chartered Accountants Australia and New Zealand (CA ANZ), CPA Australia, and the Institute of Public Accountants (IPA).
By staying current with Continuing Professional Development (CPD) obligations, developing technical and soft skills, and maintaining ethical standards, Australian CPAs can remain trusted and valuable professionals.
Understanding Continuing Professional Development (CPD) Requirements
CPD is more than a box to check—it's key to maintaining your knowledge, gaining new insights, and upholding the profession's reputation. Here’s what each accounting body expects:
CA ANZ
Chartered Accountants Australia and New Zealand (CA ANZ) mandates a structured approach to CPD. Members who hold the CA, Affiliate, or NMP designation must complete 120 hours of CPD every three years, with at least 90 of those hours verifiable, and a minimum of 20 hours annually. Associate Chartered Accountants (ACAs) are expected to complete 90 hours over three years, including 67 verifiable hours and at least 15 each year. Accounting Technicians (ATs) are required to complete 60 hours in total, with 45 verifiable hours and at least 10 each year.
From July 2024, a mandatory 6 hours of verifiable ethics training per triennium applies to all members.
|
Designation |
Total Hours (3 Years) |
Annual Minimum |
Verifiable Hours (3 Years) |
|
CA, Affiliate, NMP |
120 hours |
20 hours |
90 hours |
|
ACA |
90 hours |
15 hours |
67 hours |
|
AT |
60 hours |
10 hours |
45 hours |
CPA Australia
CPA Australia requires its members to complete 120 hours of CPD over a rolling three-year period, ensuring at least 20 hours are recorded each year. This structure aligns with members’ join dates to offer a personalized experience. Since October 2023, ethics training has become a mandatory part of CPD, with a requirement of 10 hours per triennium, including a minimum of 2 verifiable hours each year.
|
Requirement |
Details |
|
Total Hours (3 Years) |
120 hours |
|
Annual Minimum |
20 hours |
|
Ethics Training |
10 hours per triennium (mandatory since Oct 2023) |
|
Verifiable Ethics Hours |
At least 2 hours per year |
|
Structure |
Based on individual member’s join date |
IPA
The Institute of Public Accountants (IPA) outlines a requirement of 120 hours of CPD over a three-year period. Until June 2024, members must ensure their learning covers three key competency areas: Technical and Product Knowledge, Management and Professional Skills, and Professional and Ethical Standards. In each of these areas, at least 15 hours must be verifiable, with an additional 5 hours allowed as unverified.
Members must also retain detailed records of their CPD for five years beyond the end of each three-year cycle. After June 2024, with the transition to Pronouncement 8, the competency area requirements were replaced with a more flexible structure that reflects the evolving landscape of the accounting profession.
|
Requirement |
Details (Until June 2024) |
|
Total Hours (3 Years) |
120 hours |
|
Verifiable Hours |
15 hours per each of 3 competency areas (Technical/Product, Management/Professional, Ethics), plus 5 hours unverified |
|
Ethics Training |
Included in "Professional and Ethical Standards" competency area |
|
Recordkeeping |
CPD records must be kept for 5 years |
Key Technical Skills for Today’s CPA
Staying Up to Date with Regulations
CPAs need to understand and apply updates from the Australian Accounting Standards Board (AASB) and International Accounting Standards Board (IASB). Regulatory changes—like new sustainability reporting standards—mean CPAs must be proactive learners. From 2025, large businesses must report climate-related financial data; smaller businesses will follow in 2026.
Embracing Technology and Data Analytics
CPAs should be proficient in tools like Xero, MYOB, and QuickBooks, and ERP platforms such as SAP or Oracle NetSuite. More importantly, they should be skilled in data analysis and "data storytelling," which helps convert complex data into clear, actionable insights.
AI is also reshaping finance. CPAs who can use and interpret AI-powered tools are becoming increasingly valuable.
AU & NZ CPD by LearnFormula provides various technology-focused courses help CPAs develop these technical capabilities in an accessible, practical way. For instance, their "ChatGPT for Accountants and Bookkeepers” focuses on enhancing efficiency, improving client interactions, and adoption innovative AI tools for better financial analysis and decision-making.
The Importance of Ethical Conduct
All major accounting bodies in Australia require adherence to the APES 110 Code of Ethics, which includes five core principles:
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Integrity: Be honest and transparent.
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Objectivity: Avoid bias and conflicts of interest.
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Professional Competence: Maintain up-to-date skills.
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Confidentiality: Protect client information.
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Professional Behavior: Follow all laws and act in a way that upholds the profession’s reputation.
With ethics gaining regulatory attention, AU & NZ CPD by LearnFormula provides a dedicated Ethics CPD category, including real-world case studies and legal updates, to help CPAs fulfil mandatory requirements while deepening their understanding of ethical risks.
Professional Skills that Drive Career Growth
Communication and People Skills
CPAs must clearly explain financial data to clients and stakeholders. Strong writing and speaking abilities, along with interpersonal skills, are essential to succeed in both advisory and team roles.
AU & NZ CPD by LearnFormula's communication-focused CPD courses—like "The 7 Secrets to Awesome Financial Presentations"—equip CPAs with the skills to create great financial presentations.
Leadership and Team Collaboration
Whether leading a project or participating in team discussions, CPAs must be able to guide others, contribute to group efforts, and influence decisions.
AU & NZ CPD by LearnFormula offers CPA-specific leadership courses, like “Modern Leadership Course for CPAs” built to help CPAs get better performance out of their teams.
Analytical Thinking
CPAs are problem-solvers. They need to examine data, spot trends, and make informed decisions quickly and accurately. This is critical for compliance, auditing, and strategic planning.
AU & NZ CPD by LearnFormula course “Coaching the Analytical Mind” sharpens critical thinking and decision-making.
Conclusion
Staying competitive as a CPA in Australia means more than technical know-how. It’s about continuous learning, ethical practice, and developing versatile professional skills. CPAs must take charge of their CPD, embrace new technologies, and actively plan for their future in a rapidly changing profession.
AU & NZ CPD by LearnFormula supports CPAs every step of the way, with a growing library of accredited courses, self-paced and instructor-led options, and smart tracking tools to ensure you stay on top of your obligations while building future-ready skills.
By taking a proactive approach, CPAs can future-proof their careers, meet evolving market demands, and continue to thrive as leaders in the accounting profession.
