Fortiz Accountants take pride in providing professional and competent services to our clients.

To achieve this, all Partners and staff adhere strictly to continuing professional development (CPD) requirements set by CPA Australia, the Tax Practitioners Board and the FASEA, summarised as follows:

  • CPA Australia (CPA): Minimum of 20 hours of CPD activities per year and a total of 120 hours for a three year time period (triennium).
  • Tax Practitioners Board (TPB): Minimum of 90 hours of CPE activities per triennium
  • Financial Adviser Standards and Ethics Authority (FASEA): Minimum of 40 hours of CPD per year.

Specifically, all financial advisers in Fortiz Accountants will undertake 40 hours of CPD each year (including a maximum 4 hours of professional reading), of which 70% will need to be pre-approved by the Responsible Manager.

Under FASEA’s transitional arrangements, Fortiz Accountants’ existing financial advisers have committed to complete the education standards set by FASEA by 1 January 2024, including passing the FASEA exam by 1 January 2021.

CPD Year for FASEA Purposes

1 January 2019 to 30 June 2020 initially, and 1 July to 30 June annually, thereafter.

CPD Plans

All financial advisers within the firm will create their annual CPD plan, which must be submitted in writing during annual management planning sessions and must include areas for improvement in competence, knowledge and skills, as well, as a listing of CPD activities which will be completed in order to achieve those improvements.

Career Breaks

Where a financial adviser has had a continuous career break of at least 2 years, their CPD plan must be approved by management before the financial adviser can resume providing financial advice. Fortiz Accountants will act to ensure that the plan will address any gaps in the financial adviser’s knowledge that stem from their break.

Record Keeping

All staff, especially financial advisers, are required make and maintain records of their own CPD activities, including:

  • When they were undertaken,
  • The number of hours spent on the activity,
  • Evidence the activity was completed and of the outcomes, and
  • Progress towards implementation of their CPD plan.
  • Provide a copy of these records during their half-yearly performance appraisal sessions
  • Keep these records for 7 years.

Useful Links:
FASEA Continuing Professional Development Legislative Instrument
CPA Australia: Continuing Professional Development
Tax Practitioners Board: CPE Activities

Minimum CPD hours for financial advisers:

  • Technical: 5 hours
  • Client Care and Practice: 5 hours
  • Regulatory Compliance and Consumer Protection: 5 hours
  • Professionalism and Ethics: 9 hours
  • The balance up to 40 hours will consist of qualifying CPD (eg. technical competence or industry specialisation)

Services are provided by qualified CPAs, each with more than 20 years of experience in financial accounting, management accounting, public accounting, budgeting and forecasting.

Fortiz Accountants

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