Why do Training Records have to be maintained?
The Training Records provide a means by which the student's relevant supervised training can be recorded, documented and ultimately evaluated by the Institute on his/her admission to Membership. The general requirement of the Institute is that the student has a broad base of practical training and each completed set of Training Records will be assessed on its overall merit upon admission to membership. Students are required to have a minimum of three completed Training Records on file when applying for Membership. The training must be signed off and supervised by a qualified accountant.
How often do I need to submit my Training Records?
Students must submit the Annual Summary and Sign-Off on pages 17/18 in Section C within four weeks of the end of each year. They are not required to submit the full detailed record, but they should retain this safely for their own records and for submission to the Institute upon request. All students are required to have at least three annual summaries on file when applying for membership.
What is the difference between Training and Experience?
Training is an essential part of the process of preparing CPA students for membership of the Institute. It has a number of elements, the most significant of which is supervised practical experience in accounting-related work. Other relevant supervised activities, such as simulation, research, project work or training courses may also be included. Experience on its own does not constitute training. It must be progressive, supervised and entail structured feedback. The Training Record is designed to record these asp
How do I complete the time period?
You should equate the working year to approx. 48 weeks (to allow for holidays etc); each quarter can then be broken down into approx a 12- week period. You should indicate the number of weeks within this period spent by you on each topic in the box under the relevant knowledge level. (Note: Placing a tick in the box will not suffice!)
Can I fill out more than one year's training in a Training Record?
No. Each Training Record must record the supervised training for one calendar year only. Where more than one year's training is recorded, it will be returned to you and you will be requested to complete the record in the manner required.
How do I submit training records if I change employer during the year?
If you change employment during the calendar year you must submit two training records for that year. The first training record will detail training from the start of the year to the date when the first employment terminates and the second training record will then cover from the commencement of the new employment up to the end of the year. Each training record must be signed by the appropriate training manager.
How do I select the appropriate Training Levels?
The training levels are explained in the Training Records, but a general guide is that students at Formation 1 and 2 should have training at Level 1, students at Professional 1 should have training at Level 2 and Professional 2 students should aim to have as much of their training as possible at Level 3.
How do I complete the Training Categories?
The range and diversity of supervised training gained by a student will vary according to the position held and the sector in which he/she is working. Students should record their training in the major categories indicated in the detailed record as best they can. Any relevant supervised training that falls outside the printed categories in Section A should be included (with appropriate details) at the end of the category to which it most closely relates. Details of other training activities should be entered in the appropriate box in the Annual Summary on page 18.
Do they have to be signed?
Yes. Signatures are required in two places. The Quarterly Review (Section B) must be signed quarterly and the Annual Review (Section C) must be signed before submission to the Institute. Any summaries not signed will be returned.