A CTA is required, during a year, to attend recognised activities (such as seminars and workshops etc.) in person to obtain a total of 15 CPD hours, of which at least 8 CPD hours should be on tax-related topics. Seminars which are not tax related must be in respect of topics on accounting, finance, marketing, business, law or professional development.
A year is meant to be from 1 December of a calendar year to 30 November of the next calendar year.
Whether a seminar is accepted as a recognised activity will be at the sole discretion of the Council of the Institute. The Council accepts, as a recognised activity, an accredited or recognised seminar organised by the Institute and accredited bodies. The accredited bodies include Hong Kong Institute of Certified Public Accountants (“HKICPA”), Hong Kong Institute of Chartered Secretaries (“HKICS”), the Hong Kong Branch of the Association of Chartered Certified Accountants (“ACCA”), Hong Kong Bar Association, Law Society of Hong Kong, the Hong Kong Branch of CPA (Australia), The Society of Chinese Accountants and Auditors (“SCAA”), the Hong Kong Branch of Association of International Accountants (“AIA”) and such other professional bodies accredited by the Institute from time to time. In-house training is also acceptable provided that the CTA is able to provide objective verification by an independent source. For more details, please refer to the Institute’s website: www.tihk.org.hk/v2/cta/cpd_requirement_faq.
Reading journals, newspapers or other materials will not be accepted as attending recognised activities to obtain CPD hours, and no CPD hour will be recognised by taking such activities for the purpose of renewal of a CTA certificate.
CPD hours obtained by attending activities in a year will not be acceptable for the purpose of renewal of a CTA certificate in future years. In simple words, there is no carry forward of CPD hours.
A CTA should keep records of completion of the recognised activities which were organised by accredited bodies as those records may be required to be produced by the CTA for the purpose of verification of the recognised activities attended and CPD hours obtained. The period of retention of these records by the CTA should be three (3) years from the date of the recognised activities.
Any CTA who fails to submit the declaration form, or fails to obtain the required number of CPD hours in person by attending recognised activities in a year, or fails to produce upon request by the Institute records for verification purpose prior to, or for the purpose of, renewal of a CTA certificate, will not be issued a new CTA certificate. Any CTA certificate issued upon receipt of and/or resulting from misleading, incorrect or false information will be cancelled upon resolution of the Disciplinary Bodies of the Institute; and any fee paid in respect of such CTA certificate will not be refunded. Any CTA, who without reasonable excuse has submitted misleading, incorrect or false information for the purpose of renewal of a CTA certificate, will be subject to disciplinary action(s) upon resolution of the Disciplinary Bodies of the Institute.
A CTA is requested to submit the CPD declaration form online or in hard copy on or before 17 February 2020.
Starting from 1 January 2020, all CTAs who are in public practice are required to be covered by Professional Indemnity Insurance (PII), unless they are exempt because their liabilities have already been covered by PII obtained in their other professional capacity such as accountant, solicitor or barrister etc. Employees should be covered by that of their firm. The minimum coverage of insurance should be one million Hong Kong dollars (HK$1,000,000). CTAs who have yet to be covered by PII should take care of this matter during the transition period (Year 2019). Non-practising CTAs shall not have this PII requirement.