Continuing Professional Development of CPAs in Quezon Province: An Evaluation

Script

Slide 1

Kaye: As a professional, it is important to maintain your knowledge and skills by frequently

pursuing Continuing Professional Development opportunities.

Zaira: Lifelong learning. It is found that “as the shelf life of skills is becoming shorter,
engagement in lifelong learning for those in employment will be the key to their continued
employability.”

Johanna: Career Advancement. The thrust of CPD is to contribute to the advancements of

every professional in terms of career development, financial income, professional networks and
personal competencies.

Seine: Keeping-up-to-date. Staying current with new developments in your industry is

invaluable. From new regulations to techniques and methodologies, it’s important to stay
abreast of the newest information.

Zaira: Sparking creativity. Pursing Professional Development opportunities outside of your

regular workplace can re-ignite the passion that drew you to your field originally. Learning new
things can energize you and bring new life to your position.

Kaye: The environment within which the Accounting professional functions is more dynamic and
demanding today than ever before. The profession is characterized by explosion of relevant
knowledge and skills due to advancing technology, globalization of commerce,

Seine: increasing specialization, burgeoning regulations, and the complex nature of business
transactions.

Slide 2

Seine: To the board of judges, to the adviser, good day!

Johanna: This problem has triggered the implementation of professional development and arise
the interest of the researchers to conduct a study entitled “Continuing Professional Development
of Certified Public Accountants in Quezon province: An Evaluation”

Zaira: Slide 3 What is the study all about? *Read Brief Introduction*

The study evaluates the impact of the Continuing Professional Development in the practice of
profession of Certified Public Accountants in the academe, government, public practice and
commerce industry in Quezon province. The study covers the effectiveness of CPD to the
career advancement of CPAs.

Kaye: Slide 4 So now, here are the purposes why the researchers conduct the study. *Read
Title*

Kaye: Slide 5 *Purpose No. 1*

1. To describe the current practices of CPAs in government, commerce industries, academe

and public practice with respect to:
(A) The authorized person or entity who decides on what CPD activities should be taken;
(B) The source of funding for such activities;
(C) The learning values and its application to practice;
(D)The quality of the programs provided and attended.

Seine: Slide 6 *Purpose No. 2 & 3*

2. To identify different CPD activities that the CPAs employed in the four sectors in Quezon
Province attend;
3. To determine the effects of CPD with respect to the competency of CPAs in Quezon
Province;

Zaira: Slide 6 *Purpose No. 4 & 5*

4. To identify the myths and misconception of CPD accreditation and undertaking;

5. To determine the effect of CPD to CPAs based on their demographic profile such as age,
gender, years working and sector connected.

Johanna: Slide 7 *Significance of the Study* The study will benefit the following but is not
limited to:

Johanna: Slide 8 *Significance No. 1, further explain*

As to Learners

Learners (or those students in the accountancy program) will proactively develop their
professional capabilities through certified learning. From this study, the learners will be
equipped with knowledge as to the compliance. Also, the study will help the learners to deliver a
deeper understanding of what it means to be a professional, along with a greater appreciation of
the implications and impacts of your work.

Seine: Slide 8 *Significance No. 2, further explain*

As to CPAs

This study will help not only CPAs in Quezon but all the licensed accountants to keep their skills
and knowledge up to date and ensure that their professional standard of qualifications is
maintained and developed.

Additionally, they can take advantage of this study to gain the ultimate confidence, strengthen
their professional credibility, and become more competent and proactive in tackling new
challenges, in line with this we are hoping for and looking forward to future CPA’s by giving
them vision of the future development in the profession. We are trying to give them the insight
that the profession is growing stronger as time goes by.

Kaye: Slide 9 *Significance No. 3, further explain*

As to the organization

The study will benefit the organization as this will enables the company to positively react and
move with current trends and shifts in the industry.

Moreover, it will give aid to enhance the business’s reputation among customers and clients as
well as potential employees because this will serve as a framework to manage their employees’
professional development – including staff appraisals – which will stimulate the development
needs linked to the organizational objectives and strategy.

Zaira: Slide 9 *Significance No. 4, further explain*

As to Future Researchers

There are still many of the provisions remain materially unaltered in the new implementation of
CPD of CPAs which continues to be a topic of discussion among professionals with differing
opinions about what the current requirements should be, what delivery methods are acceptable,
and how compliance should be measured.
In this case, the proposed study will provide opportunity for future researchers to pursue further
research in regard to how new CPD requirements should be operationalized by the member
bodies around the globe particularly in the province of Quezon.

Seine: Slide 10 *Read title*

Seine: Slide 11 *Read Mission, further explain 1-2 sentences ONLY!*

Mission of International Federation of Accountants (IFAC)

IFAC has a mission to serve public interest, strengthen the accountancy profession worldwide
and contribute to the development of international economies”. They took firm belief that
accountants shall maintain professional knowledge and skill at a level required to say that they
are competent in their jobs and that their services are in line with current developments in
practice, legislation and techniques.

Kaye: Slide 11 *Read The Evolution, further explain 1-2 sentences ONLY!*

The Evolution of Continuing Professional Development

Houle, an eminent writer in the field of professional development stated that every practising
professional needed to ‘engage in lifelong study’. He also proposed that continuing education
was not merely about keeping up to date but ‘must also be designed to facilitate changes in life
patterns or career lines’. He cited that it is essential that when learners are professionals,
people who, above all others, should have a sophisticated ability to guide their own careers.

After the first three year cycle of Mandatory CPE for US accountants, it is found that the
mandatory CPE, enhanced the public image of their profession and enhanced the quality of
professional work.

Zaira: Slide 11 *Read Professional Development, further explain 1-2 sentences ONLY!*

Professional Development of Accounting Professionals

The accountancy profession is arguably the most important occupational group in the
contemporary society and economy. We focus on the emergence and development of the
profession, and the social issues confronting it, such as social inclusion, the public interest and
the role of professional bodies in society.

Like other professions, professional accountants are increasingly challenged to demonstrate

their relevance in the capital market and their ability to evolve and face new challenges through
pursuing professional development.

Johanna: Slide 11 *Read Opinions, further explain 1-2 sentences ONLY!*

Opinions about Current CPE Regulations

Continual changes in the accounting profession will demand the knowledge base and
competencies to be continually improved. McCabe’s 2015 research specified a desire for
change to CPE and can be summarized with: “To fuel the passion for learning in the CPA
profession, we must fundamentally change how regulation, professional development and CPE
are structured, delivered and measured”. On the other hand, Cycle stressed the need for a
change in the current system that provides authentic and relevant measures of learners’
competency, development and compliance.

Thus, it was concluded that professionals perceived that the Current CPE is an innovative way
to fuel the passion for learning and contribute benefits to the CPAs’ career advancement and
yet hoping for future changes to the profession will include focus upon increases in professional
competency rather than an accumulation of hours in passive absorption learning takes place.
Seine: Slide 11 *Read Deterrents, further explain 1-2 sentences ONLY!*

The Deterrents to CPE Effectiveness In The Accounting Profession

A deterrent is a reason or related group of reasons contributing to an individual’s decision not to

engage in organized learning activities. Prior research on deterrents to participation in various
types of adult education identified several categories of deterrents that were thought to be
relevant for the present study: Situational Deterrents which are contraints external to an
individual’s control: Dispositional deterrents are factors that hinder participation based on
personal attitudes, these are internal barriers: Institutional deterrents are practices and
procedures of the CPE provider that inhibit the continuing education. There are quite a lot of
hindrances for the CPD to be effective but what was important is to continually make
improvements to fight the challenges.

Kaye: Slide 11 *Read Structured Versus, further explain 1-2 sentences ONLY!*

Structured Versus Unstructured Continuing Professional Education Learning Programs

CPE learning programs are classified into structured and unstructured program. The structured
program or also termed as formal learning activities are those which have a clear set of
objectives and a logical framework (MIA, 2009a). Examples of such activities include
attendance either as a presenter or participant at courses, conferences and seminars,
recognized post-graduate studies. In workplace learning literature, unstructured learning is
generally known as informal learning which is a process of learning that takes place in everyday
experience and often occurs at subconscious level.

Zaira: Slide 12 CPD Law

Republic Act No. 10912 also known as Continuing Professional Development Act of 2016 – An
act mandating and strengthening the Continuing Professional Development Program for all
regulated professions, creating the Continuing Professional Development Council, and
appropriating funds therefor, and for other related purposes.

Johanna: Slide 13 *Read Scope and Limitation*

This study is conducted primarily for the purpose of evaluating the effectiveness and impact of
the Continuing Professional Development from the time of its implementation up to present
(2016-2018) with regards to the level of competency and career advancement of Certified Public
Accountants.

The researchers focused on the Certified Public Accountants currently working in Quezon
Province as the subjects of the study. The current practice of CPAs will be evaluated as to
compliance, CPD activities they attended, learning values and its application to practice.

The conduct of the study is limited on the availability of actual data provided by the subjects and
is limited to actual data and records from using a mixed methods approach involving an initial
large-scale survey, exploring learning in one context, followed by in-depth interviews. Other
professions who are also complying with CPD are outside the scope of this study.

Seine: Slide 14 *Read title*

Seine: Slide 15 *Read, further explain*

The CPD law is said to be a tool to enhance professional’s competencies in different profession.
Firstly, we decided to used the descriptive research design to aid us on understanding the
factors and/or variables that may affect our goal of evaluating the effectiveness of the
implementation of the CPD law in the Accounting profession, And determining the CPD
activities and the hindrances and/or challenges faced by professionals to cope up with the
required CPD units. Lastly to evaluate, we will be using the evaluative research design delved
on the impact of the CPD program to the CPAs in Quezon working in the four different sector.
By doing so we will be looking at a longitudinal process but we will be able to comprehend more
the efficiency and effectiveness of the said program.

Kaye: The research instruments that the researchers will be using in gathering data are as
follows: A four point Likert scale survey questionnaire, personal interview and online
questionnaire.

Johanna: Slide 16 *Read, further explain*

The study will employ Stratified, Purposive Random Sampling. The subjects are identified as
Certified Public Accountants engaged in the four different sectors— Government, Commerce,
Academe and Public Practice in which each sector represents a stratum. After dividing the total
population size into four strata, we will employ purposive random sampling where each sample
is given equal chance of being included in the sample to get the stratified sample that will
represent the final number of stratified sample.

Out of the 121 total number of CPAs obtained from the list of the registered member and lifelong
honorary members of the Philippine Institute of Certified Public Accountants – Quezon Chapter,
the researchers get 80 subjects as sample size distributed proportionately to the population size
of each stratum. As you can see from your copies, there is a difference on the figures projected.
It is because of the rounding factors using the formula used.

Kaye: Slide 17 *Read Frequency and Mean, further explain*

The study will employ statistical tools to include frequency, mean, the ANOVA and logistical
regression. The frequency and mean will be used to analyze the profile of CPAs and level of
contribution of CPD to career advancement.

Zaira: Slide 17 *Read ANOVA and regression analysis, further explain*

Meanwhile, the Analysis of Variance determines the significant difference of the level of
contribution of CPD when grouped as to profile. The logistical regression will examine the
relationship of independent variables to dependent outcomes.

So, that would be all for our proposal. Thank you!