Owen M Hurley, B.Sc. (Acc) A.C.A. Member in Business, County Cork Sector: Construction / Property / Retail


C.P.D. – Input or Output, that is the question?


Operating a business has never been more difficult.


Difficulties arising in day-


to-day operations and short to medium term planning, are surmounted by new and unique problems which affect the very survival of a business.


The business person now expects that the Chartered Accountant will not only deliver in the traditional areas of accountancy and taxation, but that they can offer opinion and solutions on matters which may previously have been the remit of other professions. The Chartered Accountant must endeavour to become a “one-stop-shop”, and provide a global solution to problems as expeditiously as possible. He must not feel that once the accountancy and taxation advices are given that his role is finished.


It was recognition of this expectation, coupled with the uniqueness of the difficulties on which advice was being sought, that led me to choose the Output Method for my CPD activities.


The Output method for CPD allows and encourages a Chartered Accountant to develop skills and acquire knowledge and expertise in areas that will assist in the formulation of successful solutions to problems.


Quite often the Chartered Accountant confers with other professionals - the advices of these professionals has always been an integral component of the Chartered Accountant’s “final solution”, and were accepted and included in any report or advices given. This is no longer enough……….. The Chartered Accountant must understand why the advices of other professionals are being given?; how were the conclusions reached?; are there other alternatives?; has something been missed?


The Output Method for CPD allowed me to not only further and develop an academic interest in these new areas, but more importantly to glean knowledge that made me a better Chartered Accountant, and a better advisor to those who turned to me seeking counsel.


I recognise that the Input Method for CPD provides a beneficial formal structure, but it can become CPD for it’s own sake. CPD is not about accumulating hours it’s function is to assist the Chartered Accountant adapt and improve his decision making abilities within and without his core competencies.


Survival Guide to CPD 11


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