per user guide and logbook2

CPA ProgramThe practical experience guide and logbook

ii

If you require further information about the practical experience requirement, or would like to notify us of a change, please contact CPA Australia: [email protected] or contact your local office – details can be found on the inside back page of this guide.

Disclaimer

The material used in this booklet has been designed and prepared for CPA Australia’s practical experience requirement. It provides tailored guidance for mentors who are registered in CPA Australia’s practical experience requirement. The booklet and contents should not be used for any other purpose.

CPA Australia, the publisher and the author of this booklet take no responsibility for any loss incurred by any person who relies on guidance offered in this booklet.

Legal notice

Copyright CPA Australia Ltd (ABN 64 008 392 452) (“CPA Australia”), 2010. All rights reserved.

Save and except for third party content, all content in these materials is owned by or licensed to CPA Australia. All trade marks, service marks and trade names are proprietory to CPA Australia. For permission to reproduce any material, a request in writing is to be made to the Legal Business Unit, CPA Australia Ltd, 385 Bourke Street, Melbourne, Victoria 3000.

CPA Australia has used reasonable care and skill in compiling the content of this material. However, CPA Australia and the editors make no warranty as to the accuracy or completeness of any information in these materials. No part of these materials are intended to be advice, whether legal or professional. Further, as laws change frequently, you are advised to undertake your own research or to seek professional advice to keep abreast of any reforms and developments in the law.

To the extent permitted by applicable law, CPA Australia, its employees, agents and consultants exclude all liability for any loss or damage claims and expenses including but not limited to legal costs, indirect special or consequential loss or damage (including but not limited to, negligence) arising out of the information in the materials. Where any law prohibits the exclusion of such liability, CPA Australia limits its liability to the re-supply of the information.

mailto:[email protected]

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Contents

1 The practical experience requirement 1

Overview of the practical experience requirement 3

Introduction to the practical experience requirement 3

The practical experience requirement guide 4

Making it happen 5

Time requirements of the practical experience requirement 5

Structure of the practical experience requirement 5

Selecting sub-skills within the technical skill areas 6

Documenting the evidence 6

How to use the practical experience logbook 6

Confidentiality 6

Your mentor 7

The role of the mentor 7

Tips on maintaining a successful mentoring relationship 7

Things to do (and NOT to do) 7

Communication plan 8

What if the relationship doesn’t work? 8

Completing the practical experience requirement 9

Collecting workplace evidence 9

The practical experience testimonial 9

Claim the time 9

Time to advance 9

Useful information 10

Official start date 10

Recognition of prior experience 10

Working part-time 10

Withdrawing as a member of CPA Australia 10

Deferring the practical experience requirement 10

Practical experience audit 10

FAQs 11

Resources 12

My Online Learning 12

Practical experience requirement video interviews 12

Experience the PER 12

CPA Australia’s website 12

CPA Australia’s Library 12

The practical experience guide and logbook 13

A guide for mentors 13

iv

2 Skill areas 15

Understanding the practical experience skill areas 17

Skill areas 17

Sub-skills 17

Relevant workplace evidence 18

Terminology used 18

Skill areas 19

3 Practical experience logbook 43

Using the practical experience logbook 45

Practical experience logbook 47

4 Forms 51

Summary of Practical Experience Requirement forms 53

CPA Australia offices 71

1

CPA Program1 The practical

experience requirement

2

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3

Overview of the practical experience requirement

This section contains:

an introduction to the practical experience requirement; +

information on the practical experience requirement guide. +

Introduction to the practical experience requirementThe three-year practical experience requirement (PER) provides a competency framework for developing and demonstrating practical workplace skills at a professional level in accounting and/or finance. Under the supervision of an eligible mentor, you will benefit from the knowledge and experience of established members of the profession while developing the skills, knowledge and values required of a CPA.

The PER provides the opportunity to develop your technical, business, personal effectiveness and leadership skills. The combination of these different skills will assist you to become a work-ready professional accountant and realise your potential as a future business leader.

The + technical skills develop the practical application of your proficient expertise in accounting and finance.

The + business skills develop the skills expected of you as a professional in a business environment.

The + personal effectiveness skills develop the communication, interpersonal and self-management skills required in the workplace.

The + leadership skills develop the ethical, governance, planning and decision making skills you will require to realise your potential as a leader.

The PER is designed to align with the professional level of the CPA Program (see Figure 1). Completion of the PER is a rewarding experience for you, as the mentee, and your mentor, both professionally and personally. You will receive support from your mentor through having access to his or her expertise, skills and insights.

The PER complies with IFAC’s International Educational Standard Practical Experience Requirement (IES 5). According to IFAC, completion of a structured practical experience program will:

enhance your understanding of organisations, of how +business works and of work relationships;

enable you to relate accounting work to other business +functions and activities;

develop your awareness of the environment in which +services are provided;

develop the appropriate professional values, ethics and +attitudes in practical and real-life situations; and

provide you with the opportunity to work at progressively +higher levels of responsibility (IES 5, para. 17).

Importantly, completion of the PER allows you to meet CPA Australia’s practical experience requirements for advancement to CPA status.

F

P P P E1 E2 P

F F F F F F F

F Accounting Concepts & Principles

F Management Accounting

F Financial Accounting & Reporting

F Business Finance

F Fundamentals of Business Law

F Foundations of Accounting

F Economics & Markets

F IT & Business Processes

Foundation Level.

E Contemporary Business Issues

E Advanced Audit & Assurance

E Financial Risk Management

E Advanced Taxation

Choose two possible Electives.

P Global Strategy & Leadership

E2 Elective #2

E1 Elective #1

P Financial Reporting

P Strategic Management Accounting

P Ethics & Governance

Professional Level.

Foundation Level

Professional Level

Practical ExperienceRequirement (PER)

program

Figure 1: CPA Program pathways

4

The practical experience requirement guideThis practical experience requirement (PER) guide includes:

details of the skills for which you must demonstrate +competence to meet the PER and examples of workplace evidence that can be used to demonstrate these skills;

a communication plan for you and your mentor; +

a practical experience logbook to record your skills +achievement; and

useful resources to assist you through your time on +the PER.

Your mentor will receive a ‘Guide for mentors’, which contains information on their role and responsibilities.

5

This section contains information on:

the time requirements of the practical experience +requirement;

the structure of the practical experience requirement; +

selecting sub-skills within technical skill areas; +

documenting the evidence; +

how to use the practical experience logbook; and +

confidentiality. +

Time requirements of the practical experience requirementTo satisfy the time requirements of the practical experience requirement (PER), you must complete the full-time equivalent of three years’ experience. Full-time is based on 35 hours a week for 44 working weeks of the year. This allows a maximum eight weeks of leave per year, which is based on four weeks annual leave, two weeks of public holidays and two weeks of sick leave per year.

Part-time work is calculated on a pro rata basis. The formula to determine part-time experience is: 35 (full-time hours) divided by <part-time hours> = result. The result is then multiplied by three years

This time requirement can vary due to:

recognition of prior experience; +

part-time work, as you will be required to work the +equivalent of three years’ full-time;

a lack of exposure to relevant work in the fields of +accounting, business or finance—that is, it may take longer to develop skills and knowledge (e.g. if you are initially in a book keeping role);

not following the correct ‘change of mentor’ policies; and +

being audited and failing to meet the practical experience +requirements.

Time requirement calculations for the PER will commence when CPA Australia receives a completed enrolment from you.

Structure of the practical experience requirementTo complete the PER, you must demonstrate 100 per cent competence in these areas:

technical skills; +

business skills; +

leadership skills; and +

personal effectiveness skills. +

Each skill is made up of sub-skills. These sub-skills are the individual components of a skill area in which you will need to demonstrate competence (see Figure 2).

Making it happen

• Auditing

• Financial Accounting

• Financial Planning

• Financial Risk Management

• Insolvency

• Management Accounting

• Taxation

• Self Awareness

• Building Relationships and Interpersonal Skills

• Business Communication

• Critical Analysis and Professional Judgement

• Regulatory Environment

• Leveraging Technology

• Domestic and Global Business Context

• Business Analysis and Risk Management

• Ethics and Governance

• Diversity Consciousness

• Planning and Innovative Thinking

• Problem Solving and Decision Making

AR

EA

S O

F W

OR

K

TechnicalSkills

Personal EffectivenessSkills

BusinessSkills

LeadershipSkills

Mentees must provide their mentor with workplace

evidence for four sub-skills which can be selected from

up to four different areas of work.

The mentor uses the evidence to assess the

mentee's competence.


evidence for all four sub-skills.











Figure 2: Practical experience requirement skill areas

6

For the business, leadership and personal effectiveness skill areas, you must demonstrate competence in all four sub-skills in each skill area.

For the technical skills, there are seven areas of work; each area of work has four sub-skills. You must demonstrate competence in four sub-skills. They do not have to be all in the same area of work. The four sub-skills can be selected from different areas of work.

Selecting sub-skills within the technical skill areas

Review the technical skills. There are seven areas of work, and each contains four sub-skills.

4

Together with your mentor, consider which four technical sub-skills you will demonstrate competence. They can be from four different areas of work based on your current work, relevance or particular interests. Think about tasks you complete within your role, not your job title. Refer to the description of the sub-skills to decide where your role fits in and which sub-skills are achievable.

4

If all of your practical experience has been in one area, such as auditing, you should be able to demonstrate competencies to satisfy all four of the auditing sub-skills.

OR

Your practical experience may be in more than one area, if, for instance, you have had different roles or participated in a graduate program. If this applies to you, you may chose sub-skills from different areas of work.

Documenting the evidenceWorkplace evidence is the information you provide to your mentor that demonstrates your competence in an individual sub-skill. It does not have to be long or complex, and it can be a spreadsheet, a work plan or a timetable. The evidence must demonstrate mastery of a particular sub-skill. The mentor makes the final judgement as to whether your evidence meets the requirements.

To fulfil CPA Australia requirements, workplace evidence must satisfy the following rules of evidence:

1 It must be valid—does it directly reflect what is in the practical experience logbook?

2 It must be authentic—is it your own work?

3 It must be current—is it based on a skill you can still perform?

4 There must be sufficient evidence to demonstrate attainment of the relevant workplace skill.

These criteria appear on the practical experience testimonial and your mentor must be able to confirm that your evidence has met these criteria.

How to use the practical experience logbookThe practical experience logbook will assist you to document your workplace evidence and demonstrate skills to your mentor.

You will need to:

1 Choose the sub-skill for which you will collect workplace evidence for.

2 Present relevant workplace evidence to your mentor to demonstrate competence.

3 Record the type of workplace evidence you presented to the mentor.

4 Record your communication in your communication log.

5 Arrange for your mentor to sign off your achievement by signing and dating the sub-skill in your practical experience logbook.

Note: If you are selected for audit, you will need to submit your logbook and communication log.

ConfidentialityIf your mentor is not a staff member at your workplace and you feel that confidentiality may become an issue, you may need to ‘black out’ any sensitive information or summarise the workplace evidence. The ‘Evidence of knowledge’ form, included in this guide, can be used to demonstrate up to 50 per cent of the technical skills to overcome confidentiality issues.

7

Your mentor


the role of your mentor; +

tips on maintaining a successful mentoring relationship; +

things to do (and not to do); +

a communication plan; +

what to do if the relationship doesn’t work? +

The role of the mentorYour mentor will have a lot of knowledge and experience to offer. If possible, it is preferable that your mentor is your manager or direct supervisor.

Your mentor must have CPA/FCPA status or be a full member of an IFAC membership body. A listing of such bodies can be found at web.ifac.org/about/member-bodies.

The role of your mentor is to:

act as a sounding board and provider of information; +

share knowledge and experiences with you; +

sign off on demonstrated skills in the practical experience +logbook;

sign the practical experience testimonial that states that +you have gained the skills required and that the evidence provided is valid, authentic, current and sufficient;

guide you in collecting the most appropriate workplace +evidence; and

not coach or tutor you for CPA Program studies. +

Tips on maintaining a successful mentoring relationshipThe following tips are provided to help you maintain a successful relationship with your mentor:

ensure that you maintain a professional relationship with +your mentor at all times;

meet or communicate regularly about your progress on +the PER;

schedule your meetings or communication ahead of time; +

be proactive in communicating with your mentor; and +

use your mentor’s guidance and expertise when needed +to assist you in finding solutions to a problem.

Things to do (and NOT to do)Do:

focus on what + you want to achieve;

take responsibility for the action plan; +

share your experiences; +

ask for guidance; +

stay in regular contact; +

provide positive feedback; +

listen and learn; +

be proactive and drive the relationship; and +

approach your mentor when you need to. +

Don’t:do all the talking—listen to what your mentor has to say +or suggest;

ask your mentor to make decisions for you; +

lose contact; +

provide negative feedback; +

wait for your mentor to make contact with you; and +

ask your mentor for assistance with CPA Program studies. +

web.ifac.org/about/member-bodies

8

Communication planDuring a mentoring relationship, it is recommended that you communicate regularly with your mentor—a minimum contact of 10 hours is recommended per year. There are four important stages during the mentoring relationship.

Stage 1—Getting to know each otherContact your mentor after you have downloaded your +practical experience guide and logbook and ensure he or she has a copy of the ‘Guide for mentors’.

Take responsibility for reading the information and getting +to know the requirements so that you can explain details to your mentor.

Organise a schedule and diarise your meetings, agreeing +on times and appropriate places to meet.

During your first meeting or communication with your +mentor, complete the ‘Personal development’ form, which will give your mentor background information to help assist you effectively.

Stage 2—Planning aheadWrite a list of the day-to-day tasks you currently carry out +and the type of workplace documents you produce. This will help you and your mentor determine which areas of work may be most appropriate.

Stage 3—Demonstrating your skillsAs you progress through the PER, you will need to show +your mentor your workplace evidence to demonstrate that you have developed the various sub-skills.

Your mentor will need to sign off on the sub-skills +in the practical experience logbook that you have demonstrated satisfactorily.

Keep the logbook up-to-date by signing off the sub-skills +set as you demonstrate them to your mentor.

Stage 4—Concluding the mentoring relationship

Remember, this is a professional relationship and should +be concluded in a professional way.

Advise your mentor of your intention to end the +mentoring relationship.

It is important to ask your mentor to complete a practical +experience testimonial to confirm the time and skills achieved during the mentoring relationship. It is the only form CPA Australia will accept to demonstrate your

practical experience requirements, so it is important to complete this document carefully with your mentor.

If you have not signed off any skills during the +relationship, then if agreed, the mentor can still sign off on the length of the relationship. It is important for you to be able to claim this time.

What if the relationship doesn’t work?Mentoring relationships do not always work out. If this happens in your case, maintain your professionalism and be proactive about resolving the issue. This may include finding a new mentor, if necessary, or communicating and negotiating with your mentor further so you can make it work.

Taking responsibility for resolving the situation will avoid any delays in advancement to CPA status. Time you are not being mentored (without any contact time) may not be able to be included as part of your three-year requirement. Refer to the ‘Change of mentor and employer contact’ form.

Either you or your mentor may choose to end the mentoring relationship at any time. If you change mentors, ensure that you arrange a final meeting with your former mentor to sign off on time/skills have achieved.

9

Completing the practical experience requirement


collecting workplace evidence; +

the practical experience testimonial; +

claiming time; +

advancing to CPA status. +

Collecting workplace evidenceThere are four simple steps to complete the PER:

1 Decide

Together with your mentor, review the technical areas of work and sub-skills you would like to complete.

4

2 Plan

Discuss what workplace evidence will be collected to demonstrate your technical, business, personal effectiveness and leadership skills. Communicate with your mentor for a minimum of 10 hours per year. Use your communication log to record your communication.

4

3 Review

Review and discuss your progress. Your mentor will need to see workplace evidence to confirm it meets the rules of evidence. Use the meetings with your mentor to discuss your workplace evidence and skills development. Your mentor will then be able to sign in your logbook that you have demonstrated those sub-skills.

4

4 Document

If the evidence complies, record it in the description of workplace evidence column of the skill set in the practical experience logbook. You can then sign off that sub-skill in your logbook. Your mentor will sign and date this sub-skill achievement.

The practical experience testimonialYou must submit all of your practical experience testimonial form to CPA Australia when you are ready to advance to CPA status. This form allows you to claim time requirements and/or skill requirements that were achieved during a mentoring relationship.

If you changed mentors, you will need one practical experience testimonial from each of your mentors.

When you have completed your PER, your current employer contact will also provide final sign off.

Claim the timeIf the mentoring relationship ends before you presented any workplace evidence or gained any skills, the mentor should still sign the practical experience testimonial form if the time requirements were met—a minimum of 10 hours of communication per year.

This will allow you to claim the time spent as ‘mentored work experience’. It is your responsibility to have the mentor sign the relevant section of the testimonial.

Time to advanceWhen you have successfully completed the CPA Program professional level and met the PER you will be eligible to advance to CPA status.

To advance to CPA status, you will need to submit your fully completed practical experience testimonial/s. Refer to the practical experience testimonial for more information on how to advance to CPA status, or refer to the CPA Australia website at cpaaustralia.com.au/advancements.

www.cpaaustralia.com.au/advancements

10


your official start date; +

recognition of prior experience; +

working part-time; +

withdrawing as a member of CPA Australia; +

deferring the PER; +

a practical experience audit; and +

frequently asked questions (FAQs). +

Official start dateYour official start date of the PER is the date your completed PER enrolment form is received by CPA Australia. Therefore, your 3 year time requirement is counted from this date.

Recognition of prior experienceCPA Australia recognises prior professional experience and full membership with a recognised equivalent professional body. For detailed information, go to cpaaustralia.com.au/rpe_exemptions.

Working part-timeThe PER is based on a 35-hour week. If you are working less than 35 hours per week, your time will be calculated on a pro-rata basis. This will increase the amount of time you need to spend on the PER. The formula to determine part-time experience is: 35 (full-time hours) divided by <part-time hours> = result. The result is then multiplied by three years.

Withdrawing as a member of CPA AustraliaIf you wish to resign as a member of CPA Australia and no longer wish to receive information about the PER, please email CPA Australia at [email protected].

Further, you should:

1 Advise your mentor of your intention and ensure he or she signs relevant documentation in case you decide to resume your membership.

2 Retain your PER guide and verified documentation for future reference.

Deferring the practical experience requirementThe PER is based on attaining work skills. Time you are not working will not be included as part of your PER. There is no need to inform CPA Australia to defer involvement in the PER. You should:

1 Advise your mentor of your intentions and confirm whether you intend to continue the relationship with him or her.

2 Have a final meeting and ask the mentor to sign off on any skills achieved by completing a practical experience testimonial (just in case you lose contact).

3 Retain your PER guide and logbook verified documentation for future reference.

Practical experience auditCPA Australia may select you for audit, the objective is to verify that you have met all of the requirements by confirming that:

you actively participated in the PER for the specified time; +

you planned your evidence-gathering process and met +the appropriate requirements for the skills; and

evidence of knowledge forms and testimonials have been +used and completed correctly.

You will have to supply the following further documentation to support your claim to advance to CPA status:

‘Evidence of knowledge’ form to verify evidence other +than workplace evidence.

Communication logs to demonstrate consistent +communication with your mentor.

Note that for confidentiality reasons, you will not +be asked to submit actual workplace evidence or company documents.

Useful information

www.cpaaustralia.com.au/rpe_exemptions

www.cpaaustralia.com.au/rpe_exemptions


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FAQsWhat happens if I demonstrate all of my skills in less than three years?

The time requirement is a minimum of three years and there is no ‘fast-tracking’ through the program. Make the most of the relationship with your mentor by setting career goals or further developing your skills and gaining exposure to different areas in the workplace.

How do I notify CPA Australia if I want to change mentors?

You will need to complete a ‘Change of mentor and employer contact’ form. You will find a copy in the forms section of this guide.

How long do I have to find another mentor?

You have 30 days to nominate a new mentor. If you have commenced a new mentoring relationship and have not informed CPA Australia, you risk losing this time as part of your time. Contact CPA Australia if you have been unable to advise the change within the allocated time frame.

My employer contact left my workplace, what should I do?

You will have to let CPA Australia know of any changes to your employer contact details. Submit a ‘Change of mentor and employer contact’ form as soon as the change occurs.

Where do I record my progress?

The practical experience logbook allows you to record your progress through your demonstration of sub-skills. Your mentor will be required to sign off on these sub-skills after he or she views your workplace evidence. There are also various forms in this guide which allow you to track your communication and meetings. Ensure you bring this guide and logbook with you to every meeting with your mentor.

How do I demonstrate what I have completed with my mentor?

At the end of a mentoring relationship, you must always complete a practical experience testimonial, even if you are only able to claim the length of time you spent with your mentor.

I have used all the forms in the guide? What can I do?

You may wish to make photocopies of your forms or you can download the guide, logbook and forms from CPA Australia’s website. Please visit cpaaustralia.com.au/per_logbookguide.

When I apply for advancement to CPA status, will CPA Australia request any of my workplace evidence?

At no stage will we request that you send in actual workplace evidence. A random number of members will be selected for audit to verify compliance with the practical experience requirements. If selected for audit, you may need to submit your completed logbook and some of the forms. This information must indicate that you have actively participated in PER and have met all of the formal requirements.

If I am not working in an accounting or finance role, can I still participate in the PER?

If you are not working in an accounting or finance role that requires the knowledge learnt at the foundation level, you will not be able to meet the technical requirements of the PER.

I am working in an accounts payable or receivable or book-keeping role. Am I able to participate in the PER?

Entry level accounting or finance work such as bookkeeping, payroll or accounts receivable/payable roles provide a good foundation to be able to move into professional accounting roles. Members working in these roles can enrol into the PER, but it may take longer than three years to meet the requirements.

I am unable to meet face to face with my mentor on a regular basis. How do I get him/her to sign-off all the relevant skills?

If you are unable to meet, send a copy of the logbook to your mentor to sign, date and return to you. You must keep the signed copy in case you are selected for audit. Complete your communication log form so you have a record of all communication between you and your mentor.

www.cpaaustralia.com.au/per_logbookguide

www.cpaaustralia.com.au/per_logbookguide

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My Online Learning; +

CPA Australia’s website; +

CPA Australia’s library; +

the practical experience requirement guide and logbook; +

a guide for mentors. +

My Online LearningMy Online Learning, CPA Australia’s online learning platform, allows you to update your skills, claim CPD hours or complete the study components of the CPA Program. With a wide range of online courses, it provides you with the opportunity to learn from home at a time that suits you. CPA Australia recommends that you access this learning tool as soon as you enrol in the PER.

Practical experience requirement video interviewsUse our online video interviews to discover the benefits of mentoring and find out how you can use the PER to build your career and business networks. The interviews feature a wide range of mentors and mentees, showing how positive work plans and regular communication can lead to strong working relationships and help build wide professional networks.

The four videos provide information on:

beginning the program; +

communication between the mentor and mentee; +

working through the program requirements; and +

developing your career by participating in the program. +

Experience the PERBuild your knowledge through this engaging and interactive visual learning tool designed to guide you through your journey on the practical experience requirement.

This tool contains:

an engaging overview of the PER for both mentees and +mentors;

information on the requirements and technical aspects of +the program;

useful hints and tips on completing the PER; +

mini-movies that demonstrate how a mentoring +relationship may be conducted; and

a list of website resources. +

For help accessing My Online Learning, email [email protected] or phone 1300 857 705 (Australia) or + 800 272 272 77 (international). Support hours are Monday to Friday 8.30 a.m. to 5.30 p.m. AEST.

CPA Australia’s websiteCPA Australia’s website contains all of the information and resources that you need for your journey to become a CPA. In particular, it has the most up-to-date information on the PER.

You will have access to download the forms you need, read frequently asked questions and update your member profile.

Go to cpaaustralia.com.au/practicalexperience.

CPA Australia’s LibraryThe CPA library database is a catalogue of the material held by the CPA Australia library, allowing members to search, reserve, request and renew items online. Go to cpaaustralia.com.au/library and select ‘Subject search’ which appears under the ‘Tools’ section. Enter the term ‘Mentoring’ and from the resulting list of terms select the most appropriate subject heading.

ProQuest is an online database that provides access to over 4800 publication titles, including 2500 journals, with 1700 available in full text. ProQuest enables you to search a vast electronic resource, including ABI/IFORM Global (containing the world’s leading business and management journals). Go to cpaaustralia.com.au/library and click on the ‘ProQuest’ link which appears under the ‘Tools’ section.

If you require any assistance using the CPA Library online, please contact your nearest CPA Library on 1300 73 73 73 or email [email protected]. For further information, go to cpaaustralia.com.au/practicalexperience under ‘Resources’, click on ‘Library resources’.

Resources


www.cpaaustralia.com.au/practicalexperience

www.cpaaustralia.com.au/library

www.cpaaustralia.com.au/library


www.cpaaustralia.com.au/practicalexperience

13

The practical experience guide and logbookThe practical experience guide and logbook contains most of the information you need to meet the practical experience requirements and should be brought to all meetings with your mentor. While completing the PER, you will be required to keep your practical experience logbook up-to-date and complete some of the forms. Some of this information will be requested before you advance to CPA status or if you are selected for audit.

A guide for mentorsA guide for mentors will be available to your mentor once you enrol in the PER. This resource explains the role and responsibilities of a mentor and describes what is required for you to advance to CPA status. You may access this guide on our website at cpaaustralia.com.au/mentorrole.

www.cpaaustralia.com.au/mentorrole

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15

CPA Program2 Skill areas

16


17

Understanding the practical experience skill areas


skill areas; +

sub-skills; +

relevent workplace evidence; and +

terminology used +

The practical experience requirement (PER) provides a framework that allows you to develop practical skills at a professional level in the areas of accounting and/or finance. This section provides an outline of the requirements to complete the PER.

Skill areasAs the mentee, you will need to show 100 per cent competence in the following:

technical skills; +

business skills; +

personal effectiveness skills; and +

leadership skills (see Figure 3). +

Technical skills are divided into seven different areas of work, within each of these areas are four sub-skills. You must demonstrate competence in four technical sub-skills. These sub-skills can be selected from different areas of work.

Together with your mentor, consider which four technical sub-skills you will demonstrate your competence. This will be based on your current work, relevance or particular interests.

For example, if all of your practical experience will be in one area of work, such as auditing, you should be able to demonstrate competencies to satisfy all four of the auditing sub-skills. Your practical experience may be in more than one area if, for instance, you have had different roles or have participated in a graduate program. If this applies to you, you may chose sub-skills from areas of work.

The sub-skills listed for business, personal effectiveness and leadership are generic skills, and as a professional accountant you are expected to have all of these skills to be able to work effectively in a professional environment. Therefore, you must demonstrate 100 per cent competence in all four sub-skills in the areas of business, personal effectiveness and leadership.

Sub-skillsEach sub-skill includes a functional definition (see Figure 4), suggested ways that you can demonstrate your competence and possible ways for your mentor to assess your competence. Your mentor is also required to exercise professional judgement in assessing your competence.

Each sub-skill is presented in the same format.

• Auditing

• Financial Accounting

• Financial Planning

• Financial Risk Management

• Insolvency

• Management Accounting

• Taxation

• Self Awareness

• Building Relationships and Interpersonal Skills

• Business Communication

• Critical Analysis and Professional Judgement

• Regulatory Environment

• Leveraging Technology

• Domestic and Global Business Context

• Business Analysis and Risk Management

• Ethics and Governance

• Diversity Consciousness

• Planning and Innovative Thinking

• Problem Solving and Decision Making

AR

EA

S O

F W

OR

K

TechnicalSkills

Personal EffectivenessSkills

BusinessSkills

LeadershipSkills


evidence for four sub-skills which can be selected from

up to four different areas of work.















Figure 3: Practical experience requirement skill areas

18

Relevant workplace evidenceYour workplace evidence is the information you provide to demonstrate the sub-skill. The same workplace evidence (e.g. client notes) may apply to different sub-skills or in some cases to different areas of work. The suggested workplace evidence listed in the sub-skill functional definitions contain examples only. You and your mentor can discuss and agree on the most appropriate workplace evidence to demonstrate the relevant skills.

Terminology used The terminology used to describe various sub-skills and workplace evidence is general as it must apply to many different working situations. You may need to adapt certain words to apply to your individual situation. For example, ‘clients’ can refer to internal or external stakeholders depending on the kind of environment you work in and the type of job you have. ‘Business’ can include a whole business, a single business unit or product line, various public entities such as schools or public or private hospitals, or high-wealth individuals.

The logbook can be downloaded from the CPA Australia website and saved as a working document. This will allow you and your mentor to update it electronically.

Figure 4: Sub-skill functional definition

Technical Skills—Auditing AUD1

Planning an auditCompetency:

The mentee should demonstrate the ability to contribute to the planning of an audit.

To be competent, the mentee should demonstrate the ability to:

To assess and measure the mentee’s competence, a mentor could request that the mentee:

Examples of evidence might include:

• undertakebackgroundresearch• identifykeystakeholders• contributetothepreparationofadraft

audit proposal, agreement and budget• contributetothebriefingofanaudit

team.

• undertakebackgroundresearchon client’s industry and business environment

• identifykeystakeholdersfortheaudit• contributetothepreparationofa

draft audit proposal, audit agreement and budget

• contributetothebriefingofanauditteam on parameters and criteria for audits.

• alistofauditstakeholders• documentsrelatingtoaclient’sbusiness

environment and regulatory and compliance issues

• copiesofdraftauditproposals,agreement and budget notes together with working or meeting notes

• meetingnotesfromstafforclientdiscussions on draft reports.

Skill area CodeArea of work Sub-skillAn explanation of the skill in which

you should be competent

An explanation of requirements to demonstrate you are competent

Ways your mentor can assess that you are competent

Examples of work place evidence you can show to your mentor to

demonstrate that you are competent

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Skill Code Area of work Sub-skills

Technical AUD1 Auditing Planning an audit

AUD2 Performing an audit

AUD3 Promoting audit awareness

AUD4 Audit control and improvement

FAC1 Financial Accounting Financial reporting requirements

FAC2 Processing of financial information

FAC3 Preparation of financial reports

FAC4 Reliability of financial information

FPL1 Financial Planning Defining a client’s situation

FPL2 Developing a financial plan

FPL3 Implementing a financial plan

FPL4 Reviewing a financial plan

FRM1 Financial Risk Management Establishing financial objectives

FRM2 Monitoring the financing operations

FRM3 Managing financial risk

FRM4 Financial control systems

INS1 Insolvency Assessing a competitive position

INS2 Options for those facing insolvency

INS3 Managing a reconstruction

INS4 Liquidating a company

MAN1 Management Accounting Setting an organisation’s direction

MAN2 Design of organisational processes

MAN3 Performance measurement

MAN4 Financial control and systems

TAX1 Taxation Determining an organisation’s tax position

TAX2 Tax effective planning

TAX3 Promoting tax awareness

TAX4 Tax representation

Business BUS1 Regulatory environment

BUS2 Leveraging technology

BUS3 Domestic and global business context

BUS4 Business analysis and risk management

Personal effectiveness PER1 Self awareness

PER2 Building relationships and interpersonal skills

PER3 Business communication

PER4 Critical analysis and professional judgement

Leadership LEA1 Ethics and governance

LEA2 Diversity and consciousness

LEA3 Planning and innovative thinking

LEA4 Problem solving and decision making

Skill areas

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Planning an auditCompetency:

The mentee should demonstrate the ability to contribute to the planning of an audit.




• undertakebackgroundresearch• identifykeystakeholders• contributetothepreparationofadraft

audit proposal, agreement and budget• contributetothebriefingofanaudit

team.

• undertakebackgroundresearchon client’s industry and business environment

• identifykeystakeholdersfortheaudit• contributetothepreparationofa

draft audit proposal, audit agreement and budget

• contributetothebriefingofanauditteamon parameters and criteria for audits.

• alistofauditstakeholders• documentsrelatingtoaclient’sbusiness

environment and regulatory and compliance issues

• copiesofdraftauditproposals,agreement and budget notes together with working or meeting notes

• meetingnotesfromstafforclientdiscussions on draft reports.


Performing an auditCompetency:

The mentee should demonstrate the ability to participate in performing an audit.




• followthecommunicationsstrategy• selectappropriateauditmethodologies• tocontributetoidentifyingauditing

issues and analysing business and financial risks

• contributetopreparingadraftauditreport.

• followanauditplanundersupervisionand be involved in selecting appropriate audit methodology

• identifyauditissuesinrelationtoauditobjectives

• explainhowtheycontributedtothepreparation of a draft audit report

• contributetomonitoringandevaluatingan audit against objectives

• gatherdataforuseinbenchmarkingprojects and contribute to the monitoring of the benchmarks.

• copiesofprogressreportstoclientandmeeting notes from audit staff

• alistofauditmethodologieschosenand an explanation as to why each methodology was chosen

• useofappropriatesamplingtechniques• businessandfinancialriskanalysisand

test data relating to the client’s business• performanceoftestswhichfollowthe

audit program• draftauditreportsandminutesfromstaff

and client meetings regarding the report• researchnotesanddiscussionpapers

which identify auditing issues• benchmarkingreports.

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Promoting audit awarenessCompetency:

The mentee should demonstrate the ability promote audit awareness within the organisation or with clients.




• up-to-dateknowledgeofauditstandards• explainanyregulatorychanges• includenewauditmethodologies.

• analyseandreportontheneedforregulatory change

• classifytheexternalenvironmentwhichimpact upon audits

• summariselegislation,regulations,compliance issues and professional standards.

• anewsletterortechnicalupdate(whichmay be internal or external) to which the mentee contributed

• notesfromapresentationregardingchanges in audit standards

• documentsofprocesseswhichcompile and consolidate information on regulatory changes

• recommendationsandnotesrelatingtoproposed changes in practice as a result of changing contexts.


Audit control and improvementCompetency:

The mentee should demonstrate the ability to participate in the development and maintenance of audit controls and improvements in the audit process.




• contributetodevelopingandmaintainingof audit controls

• contributetoimprovingtheauditprocess.

• demonstrateinvolvementinprocessimprovement

• documentinvolvementinthedevelopment and maintenance of audit controls.

• demonstrateinvolvementinprocessimprovement

• documentinvolvementinthedevelopment and maintenance of audit controls.

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Technical Skills—Financial Accounting FAC1

Financial reporting requirementsCompetency:

The mentee should demonstrate the ability to contribute to determining the financial reporting requirements of an organisation.




• identifypotentialusersandtheirinformation requirements

• identifyregulatoryrequirementsandapply these requirement when preparing reports

• monitorchangestotheserequirements• liaisewithkeystakeholders.

• documentthefinancialreportsthatarerequired by their organisation or that of a client

• listpotentialreportusersandidentifywhich regulatory requirements are required to support their needs.

• adraftlistofreportswhicharerequiredby various stakeholders

• presentationsorbriefingnotesgiventostakeholders on reporting requirements and the regulations that have to be adhered to (e.g. reports, notes or other documentation)

• notesofresearchundertakenortrainingattended on changes to regulations which are applied to the organisation

• descriptionofthefinancialreportingregulatory environment in their employer’s or client’s industry.


Processing of financial informationCompetency:

The mentee should demonstrate the ability to process an organisation’s financial information to be used in financial reports.




• ensurethattheinformationisrecorded,recognised and measured according to regulatory requirements

• identifyareasofambiguityanddetermineappropriate feedback

• operateanaccountingsoftwarepackage• actonfeedbackwherenecessary.

• identifyareasofambiguity,analysethe associated risks and suggest appropriate treatment

• explainhowfinancialinformationisprocessed by the organisation

• demonstratehowtheyensurethatinformation is recorded, recognised and measured according to accounting standards and other regulatory requirements

• explainanorganisation’spolicyonexpense recognition, asset recognition and depreciation.

• anemail/memoregardinganambiguity,the risks and a suggestion as to how it can be resolved

• drafttrialbalancesandotherreportstodemonstrate how financial information is processed

• acopyofanorganisationalpolicywithexamples of how the policy effects the processing of financial information.

• notesofademonstrationoftheuseofcomputer software

• notesofresearchundertakenortrainingattended on changes to regulations, which apply to the organisation.

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Preparation of financial reportsCompetency:

The mentee should demonstrate the ability to prepare draft and final financial statements of an organisation.




• ensurethereissupportingdocumentations and reconciliations

• preparefinancialreportsthatmeetthedesired outcomes

• preparefinancialreportsthatmeetallregulatory requirements

• recognisewhenanexpert’sopinionis required.

• providefinancialreportstheypreparedaccording to schedules and identify external input

• explainhowtheyassistedanorganisation in preparing accurate financial reports by identifying desired outcomes, gathering essential information, doing research and reviewing the compilation

• demonstratehowfinancialstatementsare prepared in compliance with accounting standards and regulatory requirements

• identifyanddocumenttheneedforexpert opinion and document the reasons for expert opinion where necessary.

• financialreportspreparedtogetherwitha working file consisting of supporting documentation

• emailsormemosthatsummariseresearch undertaken and information gathered, and the effect it will have on the preparation of financial statements

• notesofresearchundertakenortrainingattended on changes to regulations which are applied to the organisation

• copiesofexpertopinionssoughttogether with why the information was sought.


Reliability of financial informationCompetency:

The mentee should demonstrate the ability to ensure that the financial information of the organisation is reliable.




• understandeffectivesystemsandassurance and the ability to assess their effectiveness

• contributetodocumentingeffectivesystems and assurances

• implementprocessthatensurethatthefinancial information prepared is reliable

• testandmonitorrelevantinformationsystems and analyse associated risk.

• explainhowtheeffectivenessofsystemsand assurances can be documented

• demonstratethattheyhavetestedandmonitored relevant information systems for their effectiveness, including whether they are cost effective, meet reporting needs, easy to use, accessible and meet computer and non-computer specifications

• demonstratethattheyhaveanalysedthe key financial reporting risks of an organisation.

• documentationthatcanincludeanemail or memo written or minutes of a meeting to which they contributed, which documents the effectiveness of systems and assurances

• testplansand/orreports,whichsummarise how information systems were tested or monitored for their effectiveness

• alistingoffinancialreportingrisksandpossible solutions to reduce or manage the risks.

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Technical Skills—Financial Planning FPL1

Defining a client’s situationCompetency:

The mentee should demonstrate the ability to contribute to establishing and defining a client’s situation.




• establishaclient’ssituationanddefinetheir needs

• generatestrategicoptionsandexplainthem to a client.

• undertakeanddocumentaclient’ssituation

• documenttheclient’sneedsorobjectives.

• alistofvariablesaffectingaperson’sfinancial situation and ways in which it can be modelled

• notesfromameetingwithaclientwhichexplores the client’s needs

• evaluationcriteriaforthereviewofstrategic options, linking them with a client’s needs.


Developing a financial planCompetency:

The mentee should demonstrate the ability to participate in developing a financial plan.




• contributetoestablishthescopeofthepotential services to be offered and the associated strategic parameters

• contributetodevelopingaplanwithrecommendations to implement strategies

• conductrelevantresearch.

• documenttheassignmentanddevelopappropriate timelines for the assignment

• researchcriticalissuesanddocumenttheir outcomes

• evaluateandpresentarangeofoptions• canvasarangeofoptionsanddocument

the plan.

• detailsofthetimingofvarioustypesoffinancial planning assignments

• processesinvolvedinconductingandvalidating research

• practicepoliciesandguidelinesrelatingto developing and negotiating financial plans.

25


Implementing a financial planCompetency:

The mentee should demonstrate the ability to participate in implementing a financial plan.




• definekeyassumptions• establishactions,someofwhichmaybe

to follow client instructions • provideservicestodefinedstandards• contributetoagreeingsubsequentaction

with the client.

• conductanalysisandmodellingexercises• explaintherelevantpracticepolicy

and procedures for implementing financial plans

• demonstratethatappropriatedocumentation was prepared

• prepareatimetabletobeadheredtowhich outlines future actions.

• alistofkeystrategicassumptionsforarange of clients

• proceduresforprovidingongoingfinancial services relating to financial plans and demonstrating that they were followed

• correspondencewithclientsoutliningfuture action and deadlines.


Reviewing a financial planCompetency:

The mentee should demonstrate the ability to participate in reviewing a financial plan.




• monitortheperformanceofafinancial plan

• planoractivatenecessarychanges• recognisefactorswhichmightaffect

the plan as a result of environmental changes.

• demonstratehowtheserviceperformance of a financial plan is monitored and measured from a client’s perspective

• explainhowrevisionstofinancialplansare implemented

• documentexamplesofhowtoreactandadopt environmental change.

• workpapersthatincludecalculationswhich monitor the performance of a financial plan

• memosornoteswhichdocumenttheclient’s responses to plan revisions

• correspondencethatevaluatestheimpacts of environmental changes.

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Technical Skills—Financial Risk Management FRM1

Establishing financial objectivesCompetency:

The mentee should demonstrate the ability to participate in establishing the financial objectives and risk strategies for an organisation.




• understandtheorganisation’sfinancialsituation

• contributetoestablishinganorganisation’s financial objectives

• analysetheimplicationofanorganisation’s objectives, strategies and business plan on the present and projected financial position

• contributetoestablishingariskstrategy.

• monitorandreportonthefinancialimplications of an organisation’s situation

• translatebusinessplansintofinancialrisk terms

• identifytheeffectsoffinancialstrategieson key stakeholders and on business strategies

• determinetheorganisation’sorclient’sattitude to risk.

• emailsorreportsadvisingtheorganisation of the financial implication of their situation

• workingnotesrelatingtofinancialestimates of business strategies, objectives and plans

• documentedfinancialstrategiesincludingcritical assumptions

• financialmodels,cashflowandprofitability patterns used in analysis

• documentedriskprofilesorfinancialriskstrategies for an organisations or client.


Monitoring the financing operationsCompetency:

The mentee should demonstrate the ability to participate in the monitoring and managing of an entity’s financing operations.




• assessinvestmentsourcesandmethods• monitoranorganisation’scashflowand

contribute to managing surplus funds• determinepotentialinvestmentoptions• contributetotheinformationsystem

requirements for a financial risk management function.

• demonstrateinvolvementinmanagingthe capital structure of an organisation

• assessanddeterminedifferentinvestment sources and options

• monitoranorganisation’scashflowandsuggest ways to manage funds surplus to requirements

• discussstructuralissuesinvolvedinestablishing the infrastructure of a treasury function and information system requirements.

• notesrelatingtosourcesoffinanceandtheir review

• notesrelatingtotheorganisation’sorclient’s investment policy guidelines and reviews

• shortandlong-termcashflowbudgets• noteswhichexplainhowinternallyand

externally generated data is recorded.

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Managing financial riskCompetency:

The mentee should demonstrate the ability to assist in managing the financial risk of an organisation.




• identifyandmeasurecurrentandfuturefinancial exposure

• assesstheeffectivenessofthefinancialrisk management process

• contributetoanorganisation’sresponseto risk and the external environment.

• identifyandmeasurecurrentandpotential financial exposure

• designorassesseffectiveandefficientsystems or procedures for internal control

• explainhowthefinancialriskmanagement function is adapted for change

• explainhowanorganisation’sfinancialrisk is effected by external environmental influences.

• notesandreportsrelatingtoanalysisofexposures and recommendations

• notesrelatingtothewaytreasuryfunction is promoted at an organisation

• assessmentnotesorreportsthatoutlinethe need for change (whether it be internal or external) in order to decrease financial risk.


Financial control systemsCompetency:

The mentee should demonstrate the ability to participate in developing performance related information systems and establishing financial control systems.




• contributetopoliciesandproceduresformanaging financial exposure

• contributetodesigningorassesseffective and efficient systems.

• assesskeyriskareas• documentinternalcontrolsystems• liaisewithandevaluateproposalsfrom

providers of financial risk• documentpoliciesandprocedures.

• alistingoftheinternalcontrolsystemsexplaining how they contribute to an effective or efficient financial risk management function

• documentedpoliciesandproceduresformanaging exposures

• notesorreportsrelatingtopolicyandprocedures review.

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Technical Skills—Insolvency INS1

Assessing a competitive positionCompetency:

The mentee should demonstrate the ability to contribute to assessing the competitive position of an individual or an organisation.




• assessthecompetitivepositionoftheorganisation or the individual

• analysetheorganisation’sorindividual’sfinancial position

• assessthecommercialviabilityofthefinancial state.

• identifyandanalyseriskfactors• identifycriticalrisks,options,

advantages, conduct sensitivity analysis and test conclusions.

• competitiveanalysisandsensitivityanalysis reports

• draftreportsonfinancialpositionbasedon research and testing

• draftcommercialviabilityreports.


Options for those facing insolvencyCompetency:

The mentee should demonstrate the ability to participate in evaluating, identifying and recommending strategic options for underperforming, possibly insolvent or insolvent organisations.




• identifyandevaluatestrategicoptions• recommendarangeofstrategicoptions.

• collectandanalyserelevantdata• identifylimitingfactorsandgather

information to conduct comparative analysis and establish criteria for making appraisals

• documentvariousoptionswhichare available.

• researchnotesandadraftassessmentof options

• evaluationdraftsandreports,andworking notes and comparative appraisals

• arecommendationreportwhichincludesan options assessment.

29


Managing a reconstructionCompetency:

The mentee should demonstrate the ability to participate in managing a reconstruction.




• monitor,reviewandassesstheprogressof a reconstruction plan

• contributetodevelopingaplan.

• reportonareconstruction,includingassessing actual performance against objectives

• provideadraftplanwithestablishedtimeframes.

• progressreportsandworkingnotes• draftplanwithtimeframes.


Liquidating a companyCompetency:

The mentee should demonstrate the ability to participate in the liquidation of an organisation.




• developreportsonformsofadministration and determine the appropriate form

• participateinaliquidationincludinghow to identify and realise assets and settle creditors

• identifyhowadebtorbecomesbankrupt.

• documentformsofadministrationandprepare a reconciliation of expected and actual results

• evaluateoptionsandpreparedocumentation to support a recommended form of administration

• identifyhowtosetvaluationparametersand identify best options when realising assets

• documenttheeffectofparticulardebtorcircumstance.

• reconciliationsofexpectedandactual results

• draftandfinaloptionspaper• assetslistsandtheirexpectedvalues

and valuation parameters• calculationsofincomecontributorsunder

a variety of circumstances.

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Technical Skills—Management Accounting MAN1

Setting an organisation’s directionCompetency:

The mentee should demonstrate the ability to participate in the direction setting of an organisation.




• contributetotheformingofstrategies• appraiseprojectsagainsttheirobjectives• contributetowardspreparingbusiness

plans and budgets• contributetowardsdecisionmaking

for operations.

• explainhowtheypreparedadevelopment, operational and/or capital budgets for an organisation

• demonstratehowabusinessplanisused by management for decision making

• documenthowtheycontributedtoformulating management accounting strategies and processes

• explainhowtheyappraisedaprojectwithin an organisation by assessing key assumptions, undertaking project life analysis, target costing, and conducting, risk, sensitivity or probability analysis.

• demonstratehowabusinessplanisevaluated which may include estimating and testing revenue, expenses or investment estimates and preparing a SWOT analysis

• abudgetprepared,whichcouldbeadevelopmental, operational or capital budget

• profitabilityanalysisandcashflowstatements and predictions

• alistoffactorstobeincludedinabusiness plan

• emailsornoteswhichdiscussformulating management accounting strategies and processes

• presentationsorbriefingnoteswhichappraise an organisation’s project (e.g. reports, notes or other documentation)

• anemailormemowhichevaluatesabusiness plan according to requirements.


Design of organisational processesCompetency:

The mentee should demonstrate the ability to participate in organisational change to design processes.




• contributetofinanciallyassessingorganisational design or redesign

• contributetomonitoringfinancialaspectsof organisational change and assessing the effects

• contributetodevelopingfinancialmanagement accounting structures by adding value and responding to organisational and business imperatives

• contributetotheoperationofthemanagement accounting function.

• prepareafinancialassessmentofanorganisational design or redesign

• demonstratehowtomonitorfinancialaspects of an organisational design and to assess its effectiveness

• explainhowthemanagementaccountingfunction develops in response to organisational and business imperatives

• explaintheirroleinthefinancialmanagement function and associated processes.

• anemail/memoregardingafinancialassessment of an organisational design or redesign

• acopyofacompanyprocessthatdefines their role in particular processes

• acopyofrecommendationsmade,which can be in the form of an email or memo, which are designed to add value

• notesofchangesinitiatedorsupportedto improve the management accounting function.

31


Performance measurement Competency:

The mentee should demonstrate the ability to contribute to developing performance measurement systems.




• facilitatethedevelopmentofperformancemeasurement

• contributetotheimplementationofperformance measurement systems

• contributetobusinessplanning,costcontrol and budgeting

• contributetoprojectappraisalsandorganisation design and development.

• evaluatehowthemanagementaccounting function is conducted to meet the organisation’s needs

• explainhowperformanceismeasuredinan organisation and make suggestions on how this can be improved

• identifytheirinvolvementinstreamliningan organisation’s performance management system

• evaluatetheeffectofexternalandinternal organisational relationships on measuring performance.

• draftsoffinancialandnon-financialperformance measures

• notesorreportsofperformancemanagement reviews—KPIs

• calculationsandspreadsheetsthatareused to prepare budgets and measure performance with explanations of how this influences decision making

• emailsormemosthatidentifyadoptionof the organisation’s performance management

• copiesofexternalrequirementsonmeasuring performance such as requirements from banks, major suppliers, major customers, and/or other key stakeholders.


Financial control and systemsCompetency:

The mentee should demonstrate the ability to develop performance related information systems and establishing financial control systems.




• facilitatethedevelopmentoffinancialcontrol systems

• contributetotheimplementationofITcontrol system;

• contributetodesigning,implementingand reviewing an organisational control system.

• explainhowthefinancialcontrolsystemsare developed, and the purpose for their implementation

• demonstratethattheyhavecontributedto the design, implementation and/or review of an organisation’s IT control system.

• demonstratethattheyhaveusedinformation technology to develop controls.

• documentationthatcanincludeanemailor memo written or minutes of a meeting to which they contributed and which documents control systems that they have designed, implemented or reviewed

• criteriaforassessingeffectivenessofcontrol systems including benchmarks

• testplanswhichsummarisehowinformation systems were tested or monitored for their effectiveness.

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Technical Skills—Taxation TAX1

Determining an organisation’s tax positionCompetency:

The mentee should demonstrate the ability to participate in determining the tax position and liability of an organisation or entity (which may include individual).




• contributetothetaxfunction• determinealltaxationduedatesand

liabilities of an entity• meetthereporting,paymentand

compliance obligations of an entity• provideadviceonthetaxationeffectsof

transactions and events.

• explainhowtheycontributetothetaxation function for individuals and small business or part of a tax function to a large organisation

• demonstratehowtocalculatethetaxliability for different types of entities and be familiar with the due dates of the tax obligations of entities

• documenthowtheyensurethattaxreporting and payment compliance obligations are met

• explainthetypesofadvicethattheygiveon the taxation effects of transactions, operations, organisational structures, arrangements and financing.

• workpapersthatincludehowtheycalculated the tax liability

• correspondencewithaclient,whichtheyprepared that outlines how their tax reporting and payment compliance obligations are met

• emailsormemoswritten,ornotesfrommeetings to which they contributed, where they gave tax advice

• filenoteswhichoutlinethetaxobligations.


Tax effective planningCompetency:

The mentee should demonstrate the ability to effective tax planning of an organisation (which may include an individual).




• contributetoassessinganorganisation’staxation strategy

• contributetoestablishinganorganisation’s taxation strategy

• contributetoplanningoftheincidenceand timing of taxation liabilities.

• prepareanassessmentofanorganisation’s taxation strategy

• explaintheprocessinvolvedinestablishing an organisation’s taxation strategy

• documentaplanforthetimingoftaxation liabilities.

• anemail/memoregardinganassessmentof the tax position of an organisation

• minutesfromameetingduringwhichan organisation’s taxation strategy was established.

• researchorfilesnotes,whichmayinclude calculations, that were prepared when either establishing or assessing the organisation’s taxation strategy

• afilenoteorwrittencorrespondencethat documents a plan of the timing of a taxation liability.

33


Promoting tax awarenessCompetency:

The mentee should demonstrate the ability promote tax awareness within the organisation or with clients.




• discussordebateissuesrelatingto taxation

• explaintheorganisation’sresponsetotaxation developments

• keepupdatewithchangesintaxationlegislation, regulation and case law.

• evaluatehowtheyhavebeenabletopromote the understanding of taxation issues of an organisation or entity or individuals

• provideexternalcommunications,suchas newsletters or technical updates to which they contributed

• explaintheirinvolvementinataxationawareness program

• documenthowtheycontributedtothe establishment of an organisation’s response to tax issues

• discusscurrentchangesintaxationlegislation, regulation or decisions in case law.

• anewsletterortechnicalupdatetowhichthey contributed which may be internal or external

• notesfromapresentationpresentedregarding taxation issues

• emailsormemosthatexplaintaxation issues and how they apply to an organisation.


Taxation representationCompetency:

The mentee should demonstrate the ability to participate in the representation, negotiation and litigation of taxation matters in an organisation or on behalf of clients.




• contributetotherepresentationofanorganisation or client on tax matters, which may include legal or administrative action

• contributetonegotiationsontaxmatters.

• documenthowtheyrepresentedtheorganisation or a client on taxation matters

• demonstratethattheyhavecontributedto negotiation on tax matters.

• filenotesorcalculationsthatwereusedin representing the client or organisation on tax matters

• correspondencewiththetaxationauthorities to negotiate with the taxation authorities on behalf of the client or the organisation

• documentationofinformationrequiredby external or internal parties for the negotiation of tax matters.

34

Business Skills BUS1

Regulatory environmentCompetency:

The mentee should demonstrate an understanding of the regulatory environment in which a business is operating, and have the ability to interpret and apply relevant legislation and standards relevant to their work, and apply regulations. Relevant legislation can include laws and regulations relating to companies, business, taxation, accounting and auditing standards, and particular industries and activities.




• understandtheregulatoryenvironmentinwhich a business is operating

• interpretandapplylegislationandprofessional standards relevant to the business

• interpretandapplylegislationandprofessional standards in their commercial context.

• listtheregulations(i.e.standardsorlegislative requirements) that must be complied by the organisation

• explainhowtheregulationsimpactedon the organisation, including how these regulations were accessed and how they were interpreted to complete the task.

• adraftlistofregulatoryrequirements• presentationsorbriefingsnotesgivento

stakeholders that outline the regulatory standards that apply to professional activities (e.g. reports, notes or other documentation)

• alistingofpeoplewithinanorganisationwith responsibilities for managing compliance with relevant legislation and the process for achieving compliance obligations

• discussingtheregulatoryenvironmentrelating to an organisation.

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Leveraging technologyCompetency:

The mentee should demonstrate the ability to use information technology and systems to efficiently and effectively perform their accounting role in the workplace.




• usestandardsoftware/technology/approaches in managing work and demonstrate a general knowledge of IT

• useofandunderstandingofarangeofITand information systems controls

• understandoftherolesofthemanager,evaluator or designer of information systems.

General knowledge of IT:• anunderstandingofITasabusiness

process enabler where candidates can explain, describe or discuss how IT impacts on the business processes and understand the role of the accountant within it

• anunderstandingofthemanagementofIT and explain, describe or discuss how IT is managed within an organisation.

• theabilitytoevaluatethedifferentITmediums to be used for communication and collaboration.

IT control• anunderstandingoftheneedfor

sufficient control of information systems IT in the workplace and the ability to contribute to the assessment of associated risks.

• theabilitytocontributetostrategiesto control the risks faced by the organisation resulting from the use of IT and information systems.

IT user competencies• competencyinITsystemsandtools

as applied in the workplace to facilitate managing business and accounting issues

• anunderstandingofbusinessandaccounting systems.

• adescriptionofhowITismanagedwithin an organisation which may include induction training, ongoing training, variety of systems relating for example to document control, security of information and data or privacy protection

• adescriptionofhowdifferentinformationsystems and IT applications enhance their role, and the obstacles they may encounter using IT

• anexplanationoftheimportanceofhaving sufficient internal controls over the organisation’s IT function.

• adocumentexplainingthevarioustypesof electronic communication used, for example, for arranging meetings, recording discussions, applying for leave or conducting online meetings.

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Domestic and global business context Competency:

The mentee should demonstrate an understanding of their organisation or business or their client’s business as it is influenced by the context within the domestic and global environment.

To be competent, the mentee should demonstrate an ability to:



• understandinternalandexternalbusiness factors which influence the environment of the business

• understandthelocalandglobalmarket and trends impacting on their organisation or their client’s organisation

• gatherandusecompetitorknowledgeto gain a better understanding of the business context

• understandandevaluateinformationfrom a variety of sources to enhance their understanding of the business context.

• listthefactorswhichinfluencethebusiness environment

• summarise(forinstance,intheformofan email or file note) how these factors may affect the business.

• contributionstotheformulationofaccounting strategies and processes for an organisation, which would include suggested data analysis, draft notes relating to strategy formulations, an analysis of the needs of stakeholders and/or shareholders

• contributionstoplanninginanorganisation which could include an evaluation of parts of the business or undertaking a SWOT analysis

• contributionstomarketassessmentsforthe organisation

• presentationsandbriefingsconductedby the mentee to clients or colleagues in relation to their operations/market environment.


Business analysis and risk managementCompetency:

The mentee should demonstrate an understanding of and an ability to use tools and skills of business analysis which includes evaluating and managing the risk associated with the business being analysed.




• identifystakeholders• researchthebusiness,itsenvironment

and factors that will affect the future activities of the business

• identifytheleveloffinancialriskofthebusiness, and differentiate between different types of risk

• understandhowtheresultsofthebusiness analysis undertaken and possible future risk will affect the business

• contributetoplanninghowthebusinesscould react to these findings

• communicatethebusinessanalysisandrisk management to appropriate individuals.

• undertakeresearchintofactorsaffectinga business and its business plans

• providenotes/email/minutesfromameeting which identifies stakeholders that are affected by a particular decision and of the business analysis and or risks associated with the business.

• asummaryofresearchundertaken• alistofthekeyrisks• notesofameetingofstakeholderswhere

the mentee contributed to a briefing on business risks.

37

Personal effectiveness skills PER1

Self awarenessCompetency:

The mentee should demonstrate awareness of the qualities they should display as a professional in the workplace.




• continuouslyupdateprofessionalandpersonal skills to ensure that they are equipped to meet the requirements of working as a professional

• acknowledgeandberesponsiblefortheirown actions and expertise, and recognise and pursue assistance when required

• adapttoandmanagechange• displayconfidenceintheirprofessionalability• completealltasksrequiredtofinalisea

piece of work• acceptresponsibilityforthework

undertaken• internalisetheorganisation’scorevalues.

• providepersonalobservationorfeedback from work colleagues of examples of a time that the mentee successfully managed a change in the workplace or demonstrated the organisation’s core values

• reviewtrainingneedsandthecompletionof training

• demonstratethattheycanrequestassistance and acknowledge those who provide support.

• feedbackfromtraining• alogorotherrecordoftraining

undertaken and a plan of future training• staffappraisalformwhereconstructive

feedback regarding professional behaviour has been noted and subsequently rectified.

Personal effectiveness skills PER2

Building relationships and interpersonal skillsCompetency:

The mentee should demonstrate the ability to build relationships and communicate with others.




• considertheirbehaviourandtheimpactit may have on others and modify where necessary

• demonstrateprofessionalcourtesywheninteracting with work colleagues

• recogniseandrespectofindividualsdifferences

• haveeffectiveworkingrelationshipsbydeveloping contacts, relationships and suitable networks and by responding appropriately

• operateeffectivelyinateamenvironmentfor both face-to-face and virtual teams

• identifyindividualandteamgoals,tasks, responsibilities and schedules for themselves and their colleagues

• worktogetherwithotherstowardsshared goals.

• providepersonalobservationorfeedback from work colleagues of examples of a time that the mentee modified behaviour after considering others

• provideexamplesoftheuseofcontactsmade through networking

• providefeedback,observationsoremailsthat show that individual differences were recognised and respected, professional courtesy was demonstrated and that the mentee worked effectively as part of a team

• documentoccasionsoftheuseofkeycontacts and networks to benefit the organisation.

• chairingoractivelyparticipatingin meetings

• exchanginginformationwithcolleaguesand/or clients to support the achievement of work objectives

• exchangingideasandinformation,withinappropriate boundaries of confidentiality, to develop supportive networks with other professionals.

38

Personal Effectiveness Skills PER3

Business communicationCompetency:

The mentee should demonstrate verbal and written business communication skills in order to be able to work effectively and efficiently as a professional.




• communicateappropriatelyandprofessionally with colleagues, clients, managers and other external and internal stakeholders; which includes evidence that their opinions and ideas are valued

• identifyandunderstandtheneedsof the group or individual and adjust communication styles to suit the audience and context

• converseconfidentlyinformalandinformal work environments

• communicateclearlyonkeyissuesina business context to demonstrate the ability to research and share information

• communicateclearly,bothformallyand informally, in a variety of medias, including standard business correspondence, verbal communications and online technologies

• usedifferentcommunicationskillssuch as interpreting non-verbal communication, listening effectively and giving and receiving feedback.

• providewrittencommunicationthatrelates to objectives and the stated audience

• collectfeedbackrelatingtoameetingchaired or a presentation given by the mentee

• keepajournaloftheusageofdifferenttypes of media such as a presentation, chairing a discussion group, a document analysing alternative strategies, each being appropriate in order to satisfy different needs and requirements of the audience.

• notesofameetingtowhichthementeemade a significant contribution to achieve an outcome

• draftletters,anissuespaperorresearch memos

• presentationtoworkcolleaguesofresearch findings on different types of business communication such as issues papers, research memos, presentations and discussion groups

• feedbackfromworkcolleaguesorexternal stakeholders.

39

Personal Effectiveness Skills PER4

Critical analysis and professional judgementCompetency:

The mentee should demonstrate the ability to apply critical analysis and professional judgement in the work environment. This is accomplished by understanding and evaluating issues that arise, and making decisions based on this evaluation and the importance of the issues.




• identifyissuesthatariseintheworkenvironment

• verifyinformationgatheredforanalysisand confirm that it is comprehensive and accurate

• evaluateinformationagainstsetcriteriaby interpreting trends, developing options and identifying key issues in relation to complex facts

• generatework-relatedideaswhicharestructured logically based on facts with supporting evidence

• makeadecisionorproposeadecisionbased on the information gathered, ideas generated and the evaluation performed.

• explainhowinformationwasgatheredfor analysis

• listmethodsthatcanbeusedtoverifyinformation

• documentdecisionsorproposalsmade.

• alistofidentifiedissuesrelevanttoassessing alternatives

• alistoftheevaluationcriteriafrommostimportant to least important.

• notesofacontributiontobusinessimprovements, new processes or new business opportunities.

40

Leadership Skills LEA1

Ethics and governanceCompetency:

The mentee should demonstrate personal integrity and ethical behaviour as an individual, and as part of their organisation, the profession and the community. Further, the mentee should be able to identify the need for good governance and it how it can be effectively implemented into an organisation.




• adheretoanethicalframeworkinallaspects of their professional life

• demonstrateintegrityandobjectivity• respectconfidentiality• understandhowgovernanceisevident

within an organisation, and the ability to identify risks where relevant

• identifytheneedforeffectiveimplementation of good governance.

• documenttheirconsiderationoftheethical framework and code of conduct in relevant situations

• demonstratecompliancewiththeorganisation’s policies and procedures and that they are familiar with their responsibilities for their role

• documenthowethicaldecisionswere made with particular reference to honesty, integrity, objectivity and confidentiality and the obstacles that were faced

• evaluateexternalandinternalresourcesavailable for consultation in relation to making ethical decisions when encountering issues regarding corporate governance.

• adescriptionofsituationswhereprofessional ethics, values or judgement might have been challenged

• referencestothepracticalapplicationof the code of conduct/ethics that they abide by

• presentationsorbriefingsbythementeeto clients or work colleagues that outline the ethical standards that apply to professional activities.


Diversity and consciousnessCompetency:

The mentee should demonstrate their ability to adapt their behaviour in recognition of diversity.




• understand,respect,andvaluethediverse cultures and backgrounds of people in the workplace

• recogniseculturaldifferencesandunderstand when and how to adapt behaviour accordingly

• activelyassistinmanagingofgroupdynamics

• explaintheirunderstandingsofdifferentcultures and how these may impact on communication.

• documentexamplesofhowbehaviourwas adapted to recognise cultural differences

• demonstratehowknowledgewasacquired regarding different cultures

• documentobstaclesfacedwhencommunicating with people from different backgrounds

• documenthowtheirpersonalbehaviourwas adapted as a result of group dynamics.

• documentasituationwherethementeerecognised cultural differences and adapted their behaviour

• researchnotesondifferingcommunication styles and a situation in which it was applied

• notesofasituationinwhichthementeedemonstrated that they adapted to cultural diversity in a group.

41


Planning/innovative thinkingCompetency:

The mentee should demonstrate an understanding of the importance of planning and their contribution to improving business plans and processes.




• setchallenginggoals,objectivesandperformance indicators

• understandorganisationalgoalsinrelation to personal and functional team goals

• seekoutandgeneratenewideas,basedon analysis and/or creative thinking

• undertaketrendanalysistoinformbusiness plans and improvements

• supportnewideas,strategiesand processes and be involved in documenting processes.

• provideaperformancedevelopmentplan which outlines goals, objectives and performance indicators

• outlinetheorganisationalgoalsandexplain how personal or team goals may need to be adapted to comply with the organisation goals

• planandadaptworkflowstoachievepersonal, team and /or organisational goals

• documentnewideasandthewaythatthey were generated

• documentthewayhownewideas,strategies and processes will affect their day-to-day tasks.

• aperformancedevelopmentplan• adocumentedplanofworkflowand

adoption of new goals• documentednewideasandtheway

these were progressed.


Problem solving and decision makingCompetency:

The mentee should demonstrate an understanding of the role of gathering information and the available resources to solve problems and make decisions.




• identifyproblemsandissueswhichrequire decision making

• undertakeresearchanduseavailableresources to identify potential solutions

• recommendorcontributetomakingdecisions based on analysis undertaken.

• documentproblemsorissuesanddecisions that are needed to achieve resolution

• listpotentialavenuesforresearchwithinthe organisation to assist the resolution of a problem or issue

• explainhowdecisionsweremadeandanalyse how these decisions will affect other decisions and their work.

• researchperformedtosolveparticularproblems

• alistofpossiblesolutionsproposedasaresult of research undertaken

• alistofpeopleconsultedwhenmakingdecisions

• anevaluationofhowdecisionsmadeaffected their role.

42


CPA Program3 Practical experience

logbook

44


45

The practical experience logbook format enables you to record your practical experience requirement progress. The front page of the logbook is a summary of the skills accomplished—it allows you to track dates that you submitted evidence of the required competency in each of the skills.

The logbook also contains a schedule which lists all of the sub-skills. This is where you record the evidence you provided (in the ‘Description of workplace evidence’ column), and where your mentor signs and dates that he or she has sighted the evidence and is satisfied that you have demonstrated your competence.

You must complete all the business, leadership and personal effectiveness sub-skills. You must also complete four of the sub-skills from the technical skill set, which can be from up to four different areas of work. Below is an example of a sub-skill schedule:

The logbook can be downloaded from the CPA Australia website and saved as a working document. This will allow you and your mentor to update it electronically.

Code Technical skills Sub-skill Description of workplace evidence Mentor’s signature Date

AUD1 Auditing Planning an audit

You should complete a description of the evidence you provided to your mentor to

demonstrate that you are competent.

The date your mentor signed for

that sub-skill.

Your mentor should sign once satisfied that you have demonstrated

competence in this sub-skill.

Using the practical experience logbook

46


47

This front page is a summary of the skills accomplished and allows you to track dates that you submitted evidence of the required competency in each of the skills.

For the technical skills you have to record the code of the skill for which you displayed competence.

Skill Date Skill Date Skill Date Skill Date

Technical skills (enter codes)

Business skills BUS1 BUS2 BUS3 BUS4

Personal effectiveness skills PER1 PER2 PER3 PER4

Leadership skills LEA1 LEA2 LEA3 LEA4

On the attached schedule is a listing of all of the skills and sub-skills. This is where you record the evidence you provided, and where your mentor signs and dates that he or she has sighted the evidence and is satisfied that you have demonstrated your competence.

Practical experience logbook

48


AUD1 Auditing Planning an audit

AUD2 Auditing Performing an audit

AUD3 Auditing Promoting audit awareness

AUD4 Auditing Audit control and improvement

FAC1 Financial Accounting Financial reporting requirement

FAC2 Financial AccountingProcessing of financial information

FAC3 Financial Accounting Preparation of financial reports

FAC4 Financial AccountingReliability of financial information

FPL1 Financial Planning Defining a client’s situation

FPL2 Financial Planning Developing a financial plan

FPL3 Financial Planning Implementing a financial plan

FPL4 Financial Planning Reviewing a financial plan

FRM1 Financial Risk Management Establishing financial objectives

FRM2 Financial Risk ManagementMonitoring the financing operations

FRM3 Financial Risk Management Managing financial risk

FRM4 Financial Risk Management Financial control systems

49


INS1 InsolvencyAssessing a competitive position

INS2 InsolvencyOptions for those facing insolvency

INS3 Insolvency Managing a reconstruction

INS4 Insolvency Liquidating a company

MAN1 Management AccountingSetting an organisation’s direction

MAN2 Management AccountingDesign of organisational processes

MAN3 Management Accounting Performance measurement

MAN4 Management Accounting Financial control and systems

TAX1 Taxation An organisation’s tax position

TAX2 Taxation Tax effective planning

TAX3 Taxation Promoting tax awareness

TAX4 Taxation Tax representation

BUS1 Regulatory environment

BUS2 Leveraging technology

BUS3Domestic and global business context

BUS4Business analysis and risk management

50

Code Personal effectiveness Skills Description of workplace evidence Mentor’s signature Date

PER1 Self awareness

PER2Building relationships and interpersonal skills

PER3 Business communication

PER4Critical analysis and professional judgement

Code Leadership skills Description of workplace evidence Mentor’s signature Date

LEA1 Ethics and governance

LEA2 Diversity and consciousness

LEA3 Planning and innovative thinking

LEA4Problem solving and decision making

51

CPA Program4 Forms

52


53

This summary applies to member who enrol in the Practical Experience Requirement.

1. Practical Experience Testimonial

Purpose Who needs to complete it? When should it be sent to CPA Australia?

Special instructions

This form allows the mentee to claim time requirements and/or skill requirements which were achieved during a mentoring relationship.

The mentee must complete section A. The mentor must complete section B. The mentee should only complete section C and D when they are ready to advance to CPA status.

The testimonial must be kept by the mentee, and submitted to CPA Australia when ready to advance to CPA status.

This form is the only form which allows a mentee to claim time with a mentor. Mentees who change mentors will need to have this form signed off by the previous mentor.

2. Evidence of Knowledge



This form is used by the mentor, supervisor or manager when workplace evidence can not be sighted due to confidentiality issues.

The mentor completes the form when formulating questions to ask the mentee. The mentee’s supervisor or manager endorses entries to validate the mentee’s work.

This form may be requested if a mentee is selected for audit by CPA Australia.

This form can only be used to demonstrate up to 50% of the sub-skills within a chosen skill area. One form must be used for each sub-skill.

3. Personal Development



This form allows the mentor to gain a good understanding of the mentee’s background and goals. It can be used to establish the mentoring relationship.

The mentee and mentor should discuss the questions and topics raised on the form.

This form does not need to be sent to CPA Australia.

It is useful where the mentor is outside of the workplace, or where the mentee and mentor do not know each other well. It is for the mentee’s records only.

4. Change of Mentor and Employer Contact



This form is used to update CPA Australia’s records when a mentee changes mentors and/or employer contacts.

Mentees changing mentors must complete sections A, B and C. If changing employer contacts, the mentee must complete sections A and D.

This form must be sent to CPA Australia within 30 days of the change.

Any time over the 30 days will not be recognised as time accumulating for the practical experience requirement.

5. Communication Log



This form is for mentees to record all communication with their mentor, including phone, email, fax or face-to-face.

This form must be completed by the mentee as evidence of consistent contact and progress with their mentor.

This form may be requested if a mentee is selected for audit by CPA Australia.

Use this form to record progress, ideas, discussions and plans agreed with the mentor.

Summary of Practical Experience Requirement forms

54


551.

Completing Section A: Mentee testimonial

The mentee to confirm name, preferred name, signature and date.

Completing Section B: Mentor testimonial

The mentor to confirm the requirements met during the mentoring relationship.

1. Time requirements How long was the mentoring relationship? This section must always be completed by the mentor. This section should be completed even if no skills were completed during the mentoring relationship. Time in the mentoring relationship cannot be claimed if this section is not completed.

2. Skill area requirement Did the mentee demonstrate any skills whilst in the mentoring relationship? Tick the completed box next to each skill for which the mentee provided relevant workplace evidence during the mentoring relationship and demonstrated competence for that skill.

3. Evidence requirements: If the mentor sighted workplace evidence, did it meet the evidence requirements? If so, all boxes must be ticked.

Changes during your mentoring relationship

If the mentee changes mentors, the mentee will need to complete a separate practical experience testimonial with their ‘previous mentor‘ to confirm what was achieved during each mentoring relationship. This will enable them to claim the time requirements and/or skill requirements achieved during the relationship. The mentee may need to make multiple copies of this form, or a copy can be downloaded from our website cpaaustralia.com.au/per_guidelogbook

The final practical experience testimonial completed before advancement, will contain an employers declaration from the most recent employer contact person. Keep all of the practical experience testimonial forms for submission at the time of advancing to CPA status. Please submit a certified true copy of the original documents, originals will not be returned.

The mentee must complete and submit an application to change mentor and employer contact form.

Completing Section C: Employer contact testimonial

The employer contact to confirm the mentee’s employment in a professional accounting and/or finance role. The employer contact who signs the practical experience testimonial, must be the same person currently registered with CPA Australia.

Completing Section D: Recognition of prior experience

Some associate members may be eligible to apply for recognition of prior experience to reduce their time requirements for the practical experience requirement. They may apply for recognition before they are ready to advance, or at the time of sending in practical experience testimonials for assessment. For further information: cpaaustralia.com.au/rpe_exemptions

Advancement to CPA status

For detailed information on what is required to advance to CPA status, please visit our website: cpaaustralia.com.au/advancements

Practical experience testimonial General information page

56

Important information:

When completed, the practical experience testimonial allows the mentee to claim time requirements and/or skill requirements which •were achieved during a mentoring relationship.

The practical experience testimonial/s must be submitted at the time of advancement to CPA Status, once the mentee has successfully •completed the professional level which includes meeting all of the practical experience requirements.

Please print in BLOCK letters•

Section A: Mentee testimonial

Member number:

Family name:

First name:

Preferred name:

Mentee signature: Date: / /

Section B: Mentor testimonial

For instructions on how to complete this section, please refer to the general information page.

Family name:

First name:

Professional status:

Full member of CPA Australia (CPA/FCPA)

Full member of an IFAC membership body

Name of professional body:

Membership number: Membership number with CPA Australia or other professional body

Did the mentee demonstrate any skills during your mentoring relationship?

Yes – Complete 1, 2 and 3, and sign below.

No – The mentee wishes to claim the mentoring time only. Complete 1 and sign below.

1. Time requirements

Dates of mentoring relationship: From: / /

To: / /

Complete this section to claim your time in the mentoring relationship, even if no skills were completed.

2. Skill areas

For each sub-skill, tick the completed box if a sub-skill has been completed. Otherwise tick the <100% box. For the technical skills, insert the technical sub-skill code you have chosen.

Completed Completed Completed Completed

Technical skills


Personal effective-ness skills PER1 PER2 PER3 PER4


2.

Practical experience testimonial

57

Important information:

When completed, the practical experience testimonial allows the mentee to claim time requirements and/or skill requirements which •were achieved during a mentoring relationship.

The practical experience testimonial/s must be submitted at the time of advancement to CPA Status, once the mentee has successfully •completed the professional level which includes meeting all of the practical experience requirements.

Please print in BLOCK letters•

Section A: Mentee testimonial

Member number:

Family name:

First name:

Preferred name:


Section B: Mentor testimonial

For instructions on how to complete this section, please refer to the general information page.

Family name:

First name:



Full member of an IFAC membership body


Membership number: Membership number with CPA Australia or other professional body

Did the mentee demonstrate any skills during your mentoring relationship?

Yes – Complete 1, 2 and 3, and sign below.

No – The mentee wishes to claim the mentoring time only. Complete 1 and sign below.

1. Time requirements

Dates of mentoring relationship: From: / /

To: / /

Complete this section to claim your time in the mentoring relationship, even if no skills were completed.

2. Skill areas

For each sub-skill, tick the completed box if a sub-skill has been completed. Otherwise tick the <100% box. For the technical skills, insert the technical sub-skill code you have chosen.

Completed Completed Completed Completed

Technical skills


Personal effective-ness skills PER1 PER2 PER3 PER4


2.

Practical experience testimonial

CPA132829 11/2009

3. Evidence requirements

If you sighted workplace evidence from the mentee, please confirm that this evidence met the requirements, by ticking all of the boxes.

Valid – does the workplace evidence provided by your mentee directly reflect what is in the relevant practical experience logbook?

Authentic – is the workplace evidence presented the mentee’s own work?

Current – is the skill still current and can your mentee still perform the task described?

Sufficient – is there enough workplace evidence to demonstrate competence?

Mentor signature: Date: / /

Have you completed the professional level and practical experience requirement?

If you have successfully completed the CPA Program professional level and the practical experience requirement, you may be ready to advance to CPA status.

Section C: Employer contact testimonial

To be completed by the employer contact person. I,

(employer contact name)

confirm that,

(mentee’s name)

Has been employed in a professional accounting/finance role at:

(place of employment)

From: To

/ /

/ /

Employer contact signature: Date: / /

Section D: Recognition of prior experience

To be completed by the mentee.

Please tick one (1) of the boxes.

I have already received a partial exemption from the practical experience requirement.

I am applying for recognition of prior experience and have attached my application for recognition of prior experience.

Please visit: cpaaustralia.com.au/rpe_exemptions for details and a copy of the application form.

•Pleasesubmitacertifiedtruecopyoftheoriginaldocuments,originalswillnotbereturned.

Contact

Mail: CPA Australia Ltd MAIS GPO Box 2820 Melbourne Vic 3001

Email address: A PDF version of this completed form can be emailed to [email protected] Faxed copies will not be accepted

Enquiries If you have any queries regarding the practical experience requirement please contact your local CPA Australia office. For listings please visit cpaaustralia.com.au/contact

3.

58


591.

Evidence of knowledge

The Evidence of knowledge form can be used by the mentee, when workplace evidence can not be sighted due to confidentiality issues.

This form can be used to record sub-skills either by:

1. The mentor formulating three questions. The answers provided should allow the mentor to determine whether the mentee has satisfactorily demonstrated a particular sub-skill.

2. The mentee’s supervisor or manager certifying that the mentee has satisfactorily demonstrated a particular sub-skill.

Please note:This form can be used to demonstrate up to 50% of the sub-skills required in each of the skill areas.•

This form may need to be submitted to CPA Australia in the case of an audit.•

One form must be used for each sub-skill.•

This form is a substitute for actual workplace evidence. Usage must be recorded and signed by the mentor in the practical •experience logbook.

A. Mentee details

Member Number:

Family name:

First names:

Sub-skill code:

This form has been used as a substitute for actual workplace evidence, to demonstrate the attainment of sub skill code number.

B. Questions of evidence

Questions to be asked by the mentor and answered by the mentee

Q1:

Q2:

Q3:

The mentee’s underpinning knowledge was satisfactory

Yes

No

Section C. Third Party Declaration (The third party person does not need to be CPA and/or equivalent)

Name of supervisor or manager:

Company name :

Business address:

Business phone:

Describe the workplace activities/documents the mentee has been involved in/completed that support the attainment of the above listed skills.

( )

602.

Have you read the section of the practical experience logbook which describes the sub-skill for which you are declaring the mentee to be competent in? Yes

Are you willing to be contacted should further verification of this statement be required? Yes

What is your relationship to the mentee?

How long have you worked with the mentee?

Does the mentee perform job tasks at an acceptable level? Yes

Does the mentee manage job tasks effectively? Yes

Overall do you believe the mentee is able to perform the skills listed on a consistent basis? Yes

Feedback to mentee

Privacy statement

I hereby declare that I have read the privacy statement and terms below.

Privacy statement: CPA Australia Ltd (‘CPA Australia’) is committed to protecting your privacy and security of personal information provided by you to us. The information you provide us in this form will be used to provide relevant information for the CPA practical experience requirement. It may be aggregated and used for internal review to analyse trends and statistics. You have the right to access your information held by CPA Australia which relates to you and to correct such information which is inaccurate. All matters relating to access and correction should be directed to CPA Australia. For more information on CPA Australia’s Privacy Policy, visit our website at cpaaustralia.com.au

Terms: It is an express term of individuals agreeing to participate in the CPA practical experience requirement that CPA Australia Ltd (‘CPA Australia’) nor it’s Directors, Officers or employees shall be liable for any loss or damage arising out of participation no matter how caused including consequential loss. CPA

Australia does not warrant that the program is suitable as a method of instruction or may provide expert professional advice.

Name of mentor (if section B), supervisor or manager (if section C):

Date: / /

Signature:

Name of mentee:

Date: / /

Signature:

CPA132831 09/2009

612.

Have you read the section of the practical experience logbook which describes the sub-skill for which you are declaring the mentee to be competent in? Yes

Are you willing to be contacted should further verification of this statement be required? Yes

What is your relationship to the mentee?

How long have you worked with the mentee?

Does the mentee perform job tasks at an acceptable level? Yes

Does the mentee manage job tasks effectively? Yes

Overall do you believe the mentee is able to perform the skills listed on a consistent basis? Yes

Feedback to mentee

Privacy statement

I hereby declare that I have read the privacy statement and terms below.

Privacy statement: CPA Australia Ltd (‘CPA Australia’) is committed to protecting your privacy and security of personal information provided by you to us. The information you provide us in this form will be used to provide relevant information for the CPA practical experience requirement. It may be aggregated and used for internal review to analyse trends and statistics. You have the right to access your information held by CPA Australia which relates to you and to correct such information which is inaccurate. All matters relating to access and correction should be directed to CPA Australia. For more information on CPA Australia’s Privacy Policy, visit our website at cpaaustralia.com.au

Terms: It is an express term of individuals agreeing to participate in the CPA practical experience requirement that CPA Australia Ltd (‘CPA Australia’) nor it’s Directors, Officers or employees shall be liable for any loss or damage arising out of participation no matter how caused including consequential loss. CPA

Australia does not warrant that the program is suitable as a method of instruction or may provide expert professional advice.

Name of mentor (if section B), supervisor or manager (if section C):

Date: / /

Signature:

Name of mentee:

Date: / /

Signature:

CPA132831 09/2009

1.

Member number:

To maximise career potential and the mentoring relationship, it is important the mentee understands their own needs and values as well as their strengths and weaknesses in a professional setting. By completing the personal development form, and discussing the issues with the mentor, the mentee can begin to understand their own strengths with relation to a career management strategy.

The mentee should complete the following short tasks with the mentor.

The mentor should review the responses to gain a better understanding of the mentee.

Formal education and other qualifications

List any formal education (outside of the CPA Program) that assisted in gaining any of the required skills within the areas of work.

Major accomplishments

Use this section to identify achievements. These will reveal what gives you the most satisfaction as well as what you are good at. Accomplishments can be both personal and professional as they provide indicators of strengths and limitations.

Personal goals

Personal goals need to always be considered alongside career goals as they can often influence career development. Personal goals such as living overseas or starting a family will influence career progression. It is important to be aware of personal goals as part of an overall career management strategy.

As the mentee, write down your top three personal goals for the next five year period. e.g. overseas travel, saving a deposit for a house.

Personal development

622.

Personal strengths and limitations

Recognising our strengths enables us to identify our interests and abilities. As the mentee, list your main strengths. You may want to use the major accomplishments section to identify strengths. Discuss these with your mentor and try to include these in your career management strategy.

Being aware of limitations enables us to challenge them. One method is to think about situations that we try to avoid or we don’t feel very confident with. As the mentee, think about which limitations you want to overcome in the next five years or sooner, so that you can add to your list of professional accomplishments. Discuss some way you could overcome these with your mentor.

Strengths:

How can I best utilise these strengths in the workplace?

Limitations:

List some ways you could overcome these limitations:

Values and preferences

Recognising our values and preferences in a professional environment is an important part of setting up a career management strategy. Best work is often done in an organisation that shares our values and offers a working context within which our needs are met.

As the mentee, write down your top three in each category.

Motivation

Consider factors that motivate you (e.g. belonging, giving to community, honesty, independence, power, leadership, respect...)

1.

2.

3.

Satisfaction and interest

Activities from which you derive the most satisfaction and that engage your continuing interest (e.g. adventure, creative opportunities, initiating, problem-solving...)

1.

2.

3.

Optimal working conditions

The type of environment that most inspires you to achieve (e.g. high salary, location, learning opportunities, time freedom...)

1.

2.

3.

632.

Personal strengths and limitations

Recognising our strengths enables us to identify our interests and abilities. As the mentee, list your main strengths. You may want to use the major accomplishments section to identify strengths. Discuss these with your mentor and try to include these in your career management strategy.

Being aware of limitations enables us to challenge them. One method is to think about situations that we try to avoid or we don’t feel very confident with. As the mentee, think about which limitations you want to overcome in the next five years or sooner, so that you can add to your list of professional accomplishments. Discuss some way you could overcome these with your mentor.

Strengths:

How can I best utilise these strengths in the workplace?

Limitations:

List some ways you could overcome these limitations:

Values and preferences

Recognising our values and preferences in a professional environment is an important part of setting up a career management strategy. Best work is often done in an organisation that shares our values and offers a working context within which our needs are met.

As the mentee, write down your top three in each category.

Motivation

Consider factors that motivate you (e.g. belonging, giving to community, honesty, independence, power, leadership, respect...)

1.

2.

3.

Satisfaction and interest

Activities from which you derive the most satisfaction and that engage your continuing interest (e.g. adventure, creative opportunities, initiating, problem-solving...)

1.

2.

3.

Optimal working conditions

The type of environment that most inspires you to achieve (e.g. high salary, location, learning opportunities, time freedom...)

1.

2.

3.

3.

Important relationships

Types of relationships you prefer with others in the workplace (e.g. cooperation, friendships, individualism, leadership, loyalty, recognition, support)

1.

2.

3.

Career goals

This area lists the 10 most-quoted career goals amongst members. As the mentee, rank the goals in your present priority order (some categories overlap). Stipulate the approximate time frame you have in mind. Your priority goals and/or timing may change during the course of your practical experience as you gain more insight into your professional sphere.

Rank timeframe (in years)

Aim for promotion Years

Aim for partnership Years

Develop specialist expertise Years

Move into management Years

Move into consulting Years

Start an accounting practice Years

Start a non-accounting practice Years

Aim for board positions Years

Continue in my current role in a different organisation Years

Continue in my current role in my current organisation Years

other Years

Interests and working style

Interests are fundamental in establishing a career management strategy, as these are where our greatest enthusiasm and passion lies. It is important to be involved in a career that is interesting to us. It is by being interested that we become motivated. As the mentee, consider how the career positions or options you are involved with or now are considering, support your interests and strengths. Are there other options that may offer better support?

Support of interests and strengths

1. Current positions/options

2. Other positions/options

It is also important to identify our preferred working style as we all have styles that work for us. Each of us has unique needs and different reactions to stress. As the mentee, refer back to your values and preferences section, and taking into account your personal and career goals, set out five important components of your working style and behaviour, including one that notes how you react to stress.

64

Working style and behaviour

1. Style

2. Behaviour

3. Dealing with stress

4.CPA132830 09/2009

65

Working style and behaviour

1. Style

2. Behaviour

3. Dealing with stress

4.CPA132830 09/2009

1.

Change of mentor and employer contact

Please allow up to 10 working days for this form to be processed.

Changing your mentor This form must be submitted within 30 days of changing mentors. Any time over this period will not be recognised towards your practical experience requirement.

Claiming time with your previous mentor To claim time and/or skill requirements with your previous mentor, you must have a completed the practical experience testimonial. The practical experience testimonial should only be submitted at the time of your advancement to CPA status.

Changing your employer contact This section must be filled out of you have changed employers or if your employer contact has left the organisation.

To update your employer contact details, sections • A and D must be completed.

To update your new mentor details, completer sections • A, B and C.

To update your employer and new mentor details all sections must be completed.•

Change of mentor A. Mentee Details (to be completed by the mentee)

Member number:

Title: Mr

Ms

Miss

Mrs

Other (Please specify)

Family name:

Given names:

Preferred name:

Mentee statement

I hereby declare that all relevant sections of this form are completed and the information provided on this form is true and correct. I understand and agree to the terms and conditions included on this form.


B. Previous mentor (to be completed by the mentee)

Mentor name:

Date mentoring relationship ended: / /

C. New mentor (to be completed by your new Mentor)

Title: Mr

Ms

Miss

Mrs


Family name:

Given names:

Preferred name:

Gender:

Male

Female



Full member of an IFAC member body


Membership number: (Membership number with CPA Australia or other professional body)

Company name:

Position title:

662.

Preferred mailing address:

Please indicate if this is your business or private address

Business

Private

Business or mobile phone:

Preferred email:

Mentor Declaration Statement: is a legal document that formalises the mentoring relationship.

I hereby declare that I have agreed to act as the applicant’s mentor for CPA Australia’s practical experience requirement. The information provided in this application is true and correct and I make it in the belief that a person making a false declaration is liable to the penalties that apply. I understand and agree to the privacy statement and terms and conditions.

As the mentor I acknowledge and understand the objectives of the CPA Program practical experience requirement and agree to participate in the practical experience requirement in a conscientious, diligent, expeditious and professional manner, with the utmost good faith towards and in the best interest of both parties.

The mentor and mentee agree that during the course of the mentoring relationship they may become aware of or have access to confidential information of the other party and agree to maintain the confidentiality of that information both during and after the term.

As the mentor I agree that I will not, both during and after the term, for whatever reason, make improper use of the confidential information acquired by virtue of the practical experience requirement to gain directly or indirectly an advantage for myself or any other person or to cause detriment to the other party.

Terms: It is an express term of individuals agreeing to participate in the practical experience requirement that CPA Australia Ltd (‘CPA Australia’) nor its Directors, Officers or employees shall be liable for any loss or damage arising out of participation no matter now caused including consequential loss. CPA Australia does not warrant that the program is suitable as a method of instruction or may provide expert professional advice.

I understand and agree to the terms and conditions included on this form.

New Mentor signature: Date: / /

Change of employer contact D. New employer contact (to be completed by your new employer contact)

Company name:

Address:

Business phone:

Title: Mr

Ms

Miss

Mrs


Family name:

Given names:

Preferred name:

Preferred email:


Complete and return this form

Mail CPA Australia Ltd MAIS GPO Box 2820 Melbourne VIC 3001

Email A PDF version of this completed form can be emailed to [email protected] Fax: 1300 78 76 73 (Within Australia) +613 9606 9844 (Outside Australia)

Enquiries If you have any queries regarding the practical experience requirement please contact your local CPA Australia office. For listings please visit: cpaaustralia.com.au/contact

672.

Preferred mailing address:

Please indicate if this is your business or private address

Business

Private

Business or mobile phone:

Preferred email:

Mentor Declaration Statement: is a legal document that formalises the mentoring relationship.

I hereby declare that I have agreed to act as the applicant’s mentor for CPA Australia’s practical experience requirement. The information provided in this application is true and correct and I make it in the belief that a person making a false declaration is liable to the penalties that apply. I understand and agree to the privacy statement and terms and conditions.

As the mentor I acknowledge and understand the objectives of the CPA Program practical experience requirement and agree to participate in the practical experience requirement in a conscientious, diligent, expeditious and professional manner, with the utmost good faith towards and in the best interest of both parties.

The mentor and mentee agree that during the course of the mentoring relationship they may become aware of or have access to confidential information of the other party and agree to maintain the confidentiality of that information both during and after the term.

As the mentor I agree that I will not, both during and after the term, for whatever reason, make improper use of the confidential information acquired by virtue of the practical experience requirement to gain directly or indirectly an advantage for myself or any other person or to cause detriment to the other party.

Terms: It is an express term of individuals agreeing to participate in the practical experience requirement that CPA Australia Ltd (‘CPA Australia’) nor its Directors, Officers or employees shall be liable for any loss or damage arising out of participation no matter now caused including consequential loss. CPA Australia does not warrant that the program is suitable as a method of instruction or may provide expert professional advice.

I understand and agree to the terms and conditions included on this form.

New Mentor signature: Date: / /

Change of employer contact D. New employer contact (to be completed by your new employer contact)

Company name:

Address:

Business phone:

Title: Mr

Ms

Miss

Mrs


Family name:

Given names:

Preferred name:

Preferred email:


Complete and return this form

Mail CPA Australia Ltd MAIS GPO Box 2820 Melbourne VIC 3001

Email A PDF version of this completed form can be emailed to [email protected] Fax: 1300 78 76 73 (Within Australia) +613 9606 9844 (Outside Australia)

Enquiries If you have any queries regarding the practical experience requirement please contact your local CPA Australia office. For listings please visit: cpaaustralia.com.au/contact

3.

General terms and conditions

CPA Australia, and its successors, assigns and related bodies corporate (‘CPA Australia Ltd’), conducts the practical experience requirement as part of the program by which Associate Members may attain accreditation as Certified Practising Accountants. Accreditation requires, among other things, three years mentored practical experience in an accounting or related field.

In all cases, mentors and associate members must fulfil all CPA Australia requirements for participation in the practical experience requirement. The practical experience requirement is maintained by CPA Australia in the sole interest of facilitating the certification of associate members as certified practising accountants and the establishment of professional links between associate members and mentors.

CPA Australia takes no responsibility for, and makes no representations as to the:

a) qualifications, capacity, character or suitability of mentors, to carry out the mentoring role, other than by requiring that all mentors, provide a statement/evidence to the effect that they fulfil all requirements for the position as notified by CPA Australia from time to time.

b) qualifications, capacity, character or suitability of associate members to undertake the practical experience requirement, other than by requiring that all associate members provide a statement/evidence to the effect that they fulfil all requirements for participation in the practical experience requirement as notified by CPA Australia from time to time, or

c) quality or accuracy of the advice and training provided by mentors, to associate members during the practical experience requirement, and CPA Australia does not accept responsibility for any form of negligence, recklessness, breach of duty or other misconduct on the part of mentors in providing those services.

In particular, CPA Australia does not accept responsibility for any form of loss or liability whatsoever incurred by associate members or mentors, during the practical experience requirement or otherwise, directly or indirectly, arising out of or in connection with any matching of associate member to mentor, irrespective of whether such loss or liability is the result of any negligence or other default on the part of CPA Australia.

CPA Australia cannot and does not guarantee the existence, currency or adequacy of professional indemnity or any other insurance held by mentors.

Associate members and prospective mentors, will be indicating that you understand and accept these terms and conditions, applicable to the relationship from this point onwards, by signing and returning this form to CPA Australia.

CPA132828 11/2009

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69CPA132839 09/2009

Communication logPractical experience requirement

Member Number: The purpose of this form is for the mentee to record all communication with the mentor. This can include communication via phone, email, fax or face-to-face. The mentee needs to keep this form up-to-date so they have evidence of consistent communication and progress with

their mentor.

Date Brief description of communication/meeting

70


71

CPA Australia offices

AustraliaMember Advisory & Information Services CPA Australia Ltd GPO Box 2820 Melbourne VIC 3001 AUSTRALIA

Phone: 1300 73 73 73 Fax: 1300 78 76 73 (Australia Only) International fax: +613 9606 9844 Email: [email protected]

MalaysiaCPA Australia Ltd Suite 10.01, Level 10 The Gardens South Tower Mid Valley City Lingkaran Syed Putra 59200 Kuala Lumpur MALAYSIA

Phone: +603 2267 3388 Fax: +603 2287 3030 Email: [email protected]

SingaporeCPA Australia Ltd 51 Cuppage Road #10–06 StarHub Centre 229469 SINGAPORE


China – Hong KongCPA Australia Ltd 20/F Tai Yau Building 181 Johnston Road Wanchai HONG KONG


China – BeijingCPA Australia Ltd Units 307–308B 3/F, Level 3 Office Tower C2 Oriental Plaza No.1 East Chang An Avenue Dong Cheng District Beijing 100738 PR CHINA

Phone: +86 10 8518 5575 Fax: +86 10 8518 7001 Email: [email protected]

China – ShanghaiCPA Australia Ltd Suite 1407, 14/F CITIC Square 1168 Nanjing West Road Shanghai 200041 PR CHINA


New ZealandCPA Australia Ltd 39 Market Street Viaduct Auckland City NEW ZEALAND


VietnamCPA Australia Ltd Suite 432, 4th Floor 59A Ly Thai To Street Hanoi VIETNAM


CPA Australia Ltd Unit 717–3, 7th Floor, Melinh Point Tower 2 Ngo Duk Ke Street District 1 Ho Chi Minh City VIETNAM


EuropeCPA Australia Ltd Australia Centre, The Strand London, WC2 B4LG UNITED KINGDOM


CPA ProgramThe practical experience guide and logbook

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