Local perceptions on the output based approach to CPE for accountants : an evaluation

Abstract

Continuing Professional Education (CPE) is the term used to describe the educational activities that assist accountants to achieve and maintain quality in their professional services. Accountants and auditors are duty bound to maintain or increase the knowledge, skills and ability in all the areas of service they render. The aim of this study is to examine the option of introducing the output-based approach instead of the present input-based approach to CPE in Malta and the local carried out by a number of semi-structured interviews. The local practitioners interviewed favoured the output method over the current approach. The regulators were divided on their opinion about this approach, some were very enthusiastic about it but others thought that the output approach is idealistic and does not work in practice. This study recommends that the Malta Institute of Accountants (MIA) considers introducing the output method. It also recommends that the CPE cycle becomes an integral part of the CPE scheme. MIA must be diligent and pragmatic when determining what type of CPE measurement technique to implement, and do a thorough cost-benefit analysis in conjunction with a careful examination of the organis impact on these.