Overhaul of ARITA CPE requirements to support diversity

At its August meeting, the ARITA Board adopted a significant change to our CPE requirements primarily to support diversity.

Professional Members will now be able to calculate their CPE over a three-year period rather than a single year. This ensures that those needing to take career breaks can do so without threatening their membership requirements. The change also aligns with the approach taken by CAANZ and CPA Australia.

The new requirement is for 30 hours of verifiable CPE per triennium and a total of 120 hours of both verifiable and non-verifiable CPE over the three years. The previous requirement was for 10 hours verifiable and 40 hours of total CPE per annum.

Annualised CPE requirements present significant challenges for practitioners if, for example, they take a reasonable period of parental leave, are seconded to external roles, face lengthy health challenges or take a career break for other reasons.

Verifiable CPE

The changes to the Regulations also give greater clarity on what constitutes 'verifiable' and 'non-verifiable' CPE.

Verifiable CPE is now defined as education that meets all four of the following requirements:

  1. the learning activity was relevant to the member's current or future career
  2. was a structured learning activity in which there were clear learning objectives or outcomes when attending or completing the activity
  3. the learning activity assisted in the development of their professional competency
  4. they are able to provide proof of attendance or participation of the activity.

Non-verifiable CPE is defined as being typically the reading of, watching or listening to subjects which are relevant to your career.

CPE will still be simply attested to on members’ annual renewal forms.

Advocating for change

ARITA now intends to press The Treasury and Attorney-General’s Departments for changes to the law to align with ARITA’s move.

In so doing we will be pointing out that CPE requirements brought in by the Insolvency Law Reform Act 2016 represent an unnecessary barrier to delivering much needed enhancements to the diversity of the ranks of Registered Liquidators and Registered Trustees, less than 10% of whom are women.

Read the updated ARITA Regulations