The Tax Practitioners Board (TPB) will carry out reviews of continuing professional education (CPE) records of over 1000 tax practitioners in 2018/19.
Beginning this month, the reviews will assess how tax practitioners comply with the industry body’s CPE policy and maintain the knowledge and skills relevant to the services they are registered to provide.
The review will initially focus on those tax practitioners who are not subject to other regulatory oversight, such as another government regulator or a TPB-recognised professional association.
A review may follow a renewal application approval on which the tax practitioner has indicated they have met the CPE requirements.
Individual practitioners will be notified if they are selected for review.
Tax practitioners who wish to meet renewal requirements will need to undertake a minimum amount of CPE to maintain the knowledge and skills relevant to the tax services they deliver and provide a record of these activities.
TPB chair Ian Taylor said the review will allow the industry body to better understand the type of CPE activities being undertaken and facilitate an assessment of the effectiveness of its CPE policies.
“It is imperative that the knowledge and skills of registered tax practitioners adapt and improve as the law, technology and their individual practice changes,” Taylor said.
“Undertaking CPE activities builds upon the primary qualifications tax practitioners use to gain initial registration with the TPB.”
