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January 1999 Issue
Lifelong Learning: Key to a Professional Future
At the core of any profession are the following defining elements: Certainly the three traditional "learned professions"--the clergy, lawyers, and doctors--have these elements. So too, in my opinion, do the CPA profession and other newer learned professions like professional engineers, architects, and teachers. Notice that part of being a professional is a commitment to continued study. Lawyers are famous for their never-ending reading of new case law; doctors, their medical journals; and the clergy years of ongoing study of Torah and Talmud, Old and New Testaments, and other holy books. In the CPA profession, continuous review of professional standards, laws, rules, and regulations is a good part of what maintains and increases our value to clients and employers. Is it any wonder then, that the first of the core values listed by the CPA Vision Project is "commitment to lifelong learning"? Lifelong learning is important not just to maintain professionalism but to thrive in the future. The CPA Vision Project's position paper, What's This Work Coming to Anyway: Trends in Human Resources notes, "Those companies and individuals who make it will share a vital trait: the ability to adapt and never stop learning. Many individuals will change not just jobs, but careers, many times over in the course of their working lives. The savvy company will nurture [its] need for growth and change."
New Approaches to CPE It is important to note that this core value is a commitment not to CPE, but to "lifelong learning." There once was a time when the two were synonymous, but this often is no longer the case. There was a time when CPAs attended continuing education classes not because of an externally imposed requirement, but because continuing education was part of what made them highly professional CPAs. Today, however, for many of our colleagues, CPE has been reduced to simply counting hours. In many cases, the attitude is one of reluctant compliance and not a thirst for learning. "Mindsets need to move away from the 'compliance' mentality when purchasing education," says Barry B. Seidel (Nassau), president of the Foundation for Accounting Education's board of trustees. "Instead, the focus should be on solving problems: What problems are my employer or my clients experiencing that I can solve and solve profitably? Each of us must ask, 'What skill sets do I need to master in order to thrive in the future? What new services must I integrate to increase my value to my employer, or to keep my clients happy?' Compliance must be a given, but CPAs also need to look outside their comfort zone with their CPE purchasing decisions." To address this issue, the AICPA is exploring different models for providing and regulating CPE. Also, the AICPA is experimenting on their website with an electronic tool to assess individual CPA competencies. CPAs provide information in a self-assessment analysis about what kinds of services they are rendering or hope to render and the skill sets they believe they have already mastered. The program then gives users information about skill gaps they should fill with additional education or study. This competency assessment tool was beta-tested on the Institute's website, www.aicpa.org, and should be available later this year to the membership at large.
Avoiding Malpractice is a Side Benefit A tangible advantage to a professional approach to lifelong learning is the reduction of liability exposure. By gaining more knowledge, CPAs limit the chance for error. In their book, Accountants' Legal Liability Guide, attorneys George Spellmire, Wayne Baliga and Debra Winiarski noted, "Whether internal or external, CPE is a must for firms that are serious about reducing professional liability exposure. In addition to the mandatory hourly requirements of CPE, a firm must determine its individual CPE requirements. A CPE program for each firm member should be structured by the management of the firm. By structuring such a program, the firm ensures that its members are experiencing both the appropriate quantity and quality of continuing professional education." Lifelong learning is the CPA's key to better employer and client service, our key to making more money. CPAs without a proper attitude toward lifelong learning risk malpractice liability exposure. But mostly lifelong learning is a significant part of what makes certified public accounting not just a business but a profession. * |
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