Answers to frequently asked questions about the Training and Development requirements
Are the Training and Development requirements based on calendar or financial year?
Financial year. The Training and Development year commences on 1 July and ends on 30 June.
How many Qualifying hours do I need to comply with the requirements?
Members are required to undertake a minimum of 120 hours of Training and Development over a three year period (triennium). Of these, a maximum of 30 hours may comprise technical reading.
I completed 120 hours in one year. Does this mean I have complied with my triennium requirements?
No. Training and Development is regarded as an ongoing commitment. Regulation 7 states that you must also complete a minimum of 20 hours per year.
I am living in Ireland and am a member of the Irish Institute. What should I submit if selected for audit?
If you are a current member of a Global Accounting Alliance (GAA) body and resident in that body’s country, you can submit written evidence from that GAA body of compliance with their Training and Development obligations, in response to an audit request from the Institute.
What happens if I am selected for a Training and Development audit?
Every year, a random selection of members is made for a Training and Development audit in accordance with the Regulations. If selected, you will need to provide details of your Training and Development activity to the most recent 30 June. Information on the details required and how best to respond is available on the Audit Selection page.
What happens if I don't respond to a Training and Development request from the Institute?
By-law 21 states that a member may be excluded from membership if:
“he fails to fulfil training and development requirements as prescribed in the Regulations or fails to notify the Institute of his compliance or otherwise for two consecutive years.”
While exclusion is always the last course of action, we make our best endeavours to contact members personally before this process is initiated. Keep in mind that the Institute does take mitigating personal and professional circumstances into account when activity records are under review.
What is Training and Development?
Training and Development is broadly defined as professional development.
An activity of a technical nature that falls within the guidelines, and enhances or broadens professional knowledge, is deemed acceptable Training and Development activity. This can include ‘soft’ skills such as software training (where needed to facilitate your role), management training, etc.
Apart from the reading of technical literature, other Training and Development activity is regarded as formal (structured) Training and Development. The Commentary in Regulation 7 outlines qualifying Training and Development activities.
Details of acceptable Training and Development activity are set out in Regulation 7.
When does my triennium commence?
Your triennium starts on 1 July following your admission date. So, if you were admitted 3 December 2008, your first triennium would commence 1 July 2009 and end 30 June 2012. Subsequent trienniums would have the start dates of 1 July 2012, 1 July 2015, etc.
For members admitted before 1 July 1994, their triennium is set at a common date (starting from 1 July 1994). Accordingly, their current triennium dates from 1 July 2009.