The concept of Mandatory Continuing Professional Education (MCPE) was introduced in 1995 by the International Federation of Accountants (IFAC) with the aim of capturing today’s global knowledge base. The Institute subsequently adopted the scheme in 1996 with a view to deploying appropriate knowledge, skills and technologies to its members in line with IFAC objective.
This programme provides major spring boards for economic empowerment of members since it is a veritable source of information and education for updating, improving and enhancing the knowledge and professional skills of members. As a professional body dedicated to best practice in management and development, the Institute has continuously improved on skills development, while innovations are on-going to give members the leading edge in the various sectors of the global economy.
To continuously update the technical skills and competencies of the Chartered Accountant through value added training programmes provided at minimum costs to enhance productivity and social responsiveness.
Benefits of MCPE:
•It help members identify areas of development which are relevant to and support their career
•provide effective skill renewal through continuous formal training
•provide the avenue for continuous update of technical skills of Chartered Accountants
•enhance the productivity, efficiency and social responsiveness of members
•re-assure employers and the public that members keep themselves abreast of current developments and employ an ethical approach to their duties
•offer a measurable and transparent approach to continuous learning
•provide members with an accessible range of services that will help them maintain and develop their expertise
Categories of MCPE
The Members Education and Training Programme cover the following:
•Mandatory Continuing Professional Education (MCPE) for all members,
•Continuing Professional Education (CPE) for both members and non members,
•Executive Continuing Professional Education (ECPE) for both categories, it is held once in a year outside the country
•Executive Mandatory Continuing Professional Education (EMCPE) for top executives.
MCPE Credit Hours Requirements
Every member of the Institute is required to obtain a minimum of thirty (30) credit hours in a year. Of these, fifteen (15) must be from structured programmes in line with MCPE training guidelines.
MCPE Compliance and Sanctions
A member of the Institute is required to obtain a minimum of 30 credit hours (which could be obtained solely from structured seminars or a combination of structured and unstructured seminars) in a year.
The structured programmes are Mandatory Continuing Professional Education (MCPE) for all members, Continuing Professional Education (CPE) for both members and non members, Executive Continuing Professional Education (ECPE) for both categories, it is held once in a year outside the country and Executive Mandatory Continuing Professional Education (EMCPE), the Annual Accountants’ Conference, World Congress of Accountants, District Societies Accountants’ Conference and Accountancy Bodies in West Africa (ABWA) Conference.
The unstructured programmes include seminars, workshops, meetings, etc. organised by either the Institute or other organisations, ICAN Annual Dinner, ICAN Annual General Meeting, ICAN symposia, Council and Committee meetings, Examination exercises (Invigilation, marking, extraction and pool setting), Retreats, Publications in the Institute’s journal, District Societies meetings, facilitation at MCPE seminars and other events of the Institute.
The Council of the Institute has noted that some members are deficient in the acquisition of the minimum credit hours required by the IFAC. Council expects defaulting members to make up for the deficient credit hours within the year by attending MCPE seminars.
It is worthy of note that the Council of the Institute had approved sanctions since March 2003; members deficient in the required MCPE credit hours would be denied the following privileges:
•Sponsorship of students for registration, exemptions, examinations and registration for induction into membership
•Sponsorship of graduate members for the Institute’s membership
•Elevation to fellowship
•Obtaining and Renewal of License
•Membership of Committees
•Contesting Council Elections, and
•Occupying any executive position in a District Society
Additional sanctions, which might affect the membership status of defaulting members, are being considered.
ACCREDITATION OF SEMINARS/WORKSHOPS
The Institute’s policy on the assessment of seminars/workshops organised by other organisations, District Societies etc, is that they are to submit the following:
Payment of Accreditation fee
Course programme, reflecting the duration of each paper
Seminar papers should be forwarded three weeks before date of seminar for evaluation
Evidence of attendance (signed attendance sheets)
Resume of resource persons
Request for monitoring of the programme before the seminar
Theme of the programme /course outline/topics
Expected number of participants
Date and venue of the programme
Name and contact details of course coordinator
All requests for local and international accreditation must comply with the above criteria for the purpose of assessment before credit hours can be allocated to such seminars or workshops.