The Tax Practitioners Board has announced that it will conduct CPD reviews to assess how tax practitioners maintain their knowledge and skills. The TPB says it will undertake reviews of CPD records of more than 1,000 individual tax practitioners in 2018-19.
Commencing this month, the reviews will assess how tax practitioners comply with the TPB’s CPD policy and maintain the knowledge and skills relevant to the services which they are registered to provide.
The TPB’s initial focus will be on those tax practitioners who are not subject to other regulatory oversight, such as another government regulators or TPB recognised professional associations, such as Tax & Super Australia (through it’s registered RTAA TAI Practitioner’s & Advisers Ltd (TAI PAL)).
A review may occur following the approval of a renewal application as the tax practitioner has indicated on their renewal application form they have met CPD requirements. Individual tax practitioners will be advised if they are selected for review.
To comply with the renewal requirements, all individual tax practitioners need to undertake a minimum amount of CPD to maintain the knowledge and skills relevant to the tax services they deliver and provide a record of these activities.
Chair of the TPB, Ian Taylor, says that CPD is absolutely essential to ensure the ongoing competence of tax practitioners. “It is imperative that the knowledge and skills of registered tax practitioners adapt and improve as the law, technology and their individual practice changes,” he says. “Undertaking CPE activities builds upon the primary qualifications tax practitioners use to gain initial registration with the TPB.”
He says the review will enable the TPB to develop a better understanding of the nature of the CPD activities being undertaken and allow the TPB to assess the effectiveness of its CPE policies:
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