INTRODUCTION:
ACCA has a unique requirement for CPD (Continuous Professional Development); anyone who needs to maintain their ACCA membership must fulfill this requirement annually. Usually, aspirants or students at the beginner’s level of the ACCA qualification are unaware of this requirement. The primary reason the qualification places a strong emphasis on ACCA CPD in Malaysia is that these activities enable professionals to stay current with new updates, industry trends, and changes in regulations.
The accounting and finance sectors are significantly growing, adapting advanced techniques and technologies; to keep up with this ever-evolving industry, ACCA CPD in Malaysia is much needed. Professionals are steadily realizing the value of Continuous Professional Development as they observe the demand for candidates who are well-updated with industry changes; employers’ demand is what motivates candidates the most.
There are many career benefits that come along with the ACCA CPD in Malaysia; want to know more about CPD and its career benefits? This blog will help you explore all that you need to know about ACCA CPD in Malaysia; read till the end to get answers to all your queries.
WHAT IS ACCA CPD?
CPD for ACCA in Malaysia is an academic requirement that ACCA professionals need to fulfill after completing their academics; once they become ACCA members, they are obliged to complete a specified number of CPD activities every year to keep up with their membership title. In case they fail to complete the requirements, they might end up losing their title, which might cause professional obstacles. Every year, professionals need to complete at least 40 units of CPD, out of which 21 units must be ‘Verifiable units’ and 19 ‘Non-verifiable Units’.
WHY CPD MATTERS FOR ACCOUNTING PROFESSIONALS?
There are various reasons why this activity matters so much for accounting or finance professionals in Malaysia; some of them are discussed below.
1: STAY RELEVANT:
If accounting or finance professionals want to survive in the modern financial world, they need to stay current with all the changes and updates in industry trends, regulations, etc. ACCA CPD in Malaysia helps them to stay relevant to the industry by training them with all the skills that the modern financial world demands. This attracts employers who are actively looking for skilled professionals with relevance to the modern techniques or skills.
2: DEMONSTRATE CREDIBILITY AND PROFESSIONALISM:
Completing ACCA CPD in Malaysia is evidence for the employers and stakeholders that you are committed to meeting the ethical and professional standards. A record of complete CPD demonstrates your credibility and competence, factors that matter the most for an employer. Therefore, it is safe to say that the badge of ACCA CPD in Malaysia makes your professional standing strong in the global and local job market of accounting, finance, and auditing, where ongoing skills and modern advancements matter the most.
3: ENHANCE CAREER PROGRESSION AND OPPORTUNITIES:
Employers from SMEs to MNEs sought-after finance professionals who add value to their organization by staying current with the advanced skills and trends. The career opportunities are more for professionals who maintain ACCA CPD in Malaysia, as they are more capable of the roles that require modern techniques and innovation. Other than that, individuals who maintain ACCA CPD in Malaysia tend to have a progressive career as they rely on lifetime learning and never end up getting lost in the outdated trends.
4: ADAPT TO LOCAL REGULATORY SYSTEMS:
Malaysia’s financial and business landscape is significantly becoming stronger, and this growing landscape requires you to stay relevant to survive in the practical world. ACCA CPD in Malaysia ensures that aspirants are well aware of the changes in regulations, industries, etc. By utilizing ACCA CPD online resources efficiently, such as webinars, virtual workshops, etc, professionals not only fulfill their CPD, stay aware of the regulations, but also position themselves ahead.
HOW CAN YOU MAXIMIZE CAREER IMPACT THROUGH CPD?
Who doesn’t aim for a bright and secure financial career? It is a dream of every ACCA professional; explore how you can effectively use ACCA CPD in Malaysia to contribute to your dream.
today!
1: SET A CLEAR DEVELOPMENT PATH:
It’s better to plan a path and then follow it; at the beginning of every year, students must plan what skills they need and will be favourable for their professional growth. Choose CPD activities that align with your desirable skills and help make your plan come to a reality; do not just complete ACCA CPD in Malaysia to fulfill the academic requirement, rather, do it with a purpose.
2: FOCUS ON HIGH IMPACT TOPICS:
Choose activities of ACCA CPD in Malaysia that add evident value to your professional profile and skills that are in demand currently. Data analytics in Finance, ESG assurance, and Sustainability reporting are the prime examples of high-impact topics of the financial world.
3: LEVERAGE EMPLOYER SUPPORT:
If your employer is ACCA-approved, you can use employer support programmes and training to complete the annual requirement of ACCA CPD in Malaysia; this takes less effort, saves cost, and highlights organizational buy-in.
CONCLUSION:
Indeed, ACCA CPD in Malaysia has a positive impact on your career globally; it helps you stand out amongst other candidates by keeping you updated about industry trends, changes in regulations, etc. The familiarity with ongoing industry trends and expertise in in-demand skills leads to enhanced career opportunities and a progressive future.
FREQUENTLY ASKED QUESTIONS:
Q1: What activities count as ACCA CPD in Malaysia?
Answer: ACCA CPD in Malaysia is classified into two categories: Verifiable CPD and Non-Verifiable CPD; the verifiable CPD includes certificates, workshops, training, etc. Whereas the non-verifiable CPD includes informal learning, reading technical articles, etc.
Q2: Who needs to complete ACCA CPD, and what are the repercussions if it is not completed?
Answer: All ACCA professionals/members are obliged to complete ACCA CPD in Malaysia, and in case of ignorance in this matter, professionals may lose their membership.
