Cpd Advantages And Disadvantages

Benefits

CPD activities enable CPAs to showcase their skills and knowledge and make the best of their career. It can also be of great benefit to employers establishing frameworks for recognizing achievements of the employees. In the 2000 study on expectancy-value theory of achievement motivation, Wigfield and Eccles explain how an individual’s choice, persistence, and performance are affected by motivation. The motivators for partaking in the CPD programs are diverse and complex. Individual professionals and governments’ motivations are similar and to some extent shared with employers. Continuously educating and enhancing professional skills provides the economy with innovative and productive knowledgeable workers that would effectively result

Rivalry in some organizations has intensified since competition is globalized and the pace of change accelerates. CPD has now become a weapon with which organizations attempt to complete. Browell (2002) views CPD as a strategic tool because it may increase the quality and performance of an individual. According to McClelland’s need theory, we all have 3 types of motivation. The type of motivation by which each individual is driven derives from their life experiences and opinions of their culture. The three types of motivation are need for achievement, need for affiliation and need for power.

Arising from these related literature, we derive hypothesis 1, CPD activities will yield benefits to both CPAs such as: increased financial income; strengthened practice of public accounting; and enhanced expertise and personal development for the

Some of these perceived benefits are contributions to career development and contributions to the development of professional network. This suggests that the greater the extent to which ones expectations are met, the more motivated the CPAs will be willing to participate in the CPD activities. And the lower the extent of expectations met, the lesser the CPAs willingness to partake in the activities.

As stated in our literature about needs theory, the need for achievement of an individual makes one prefer working on tasks of moderate difficulty and prefer work in which the results are based on their effort rather than on anything else. CPD helps professionals enhance their knowledge and keep their skills up-to-date. It ensures that the professional standard of their qualifications is maintained. Complying with the CPD requirement helps build their credibility and equips them with tools to cope positively with change. CPD is beneficial for employees’ improvement in practice of public accountancy. Our research project confirmed that CPAs think that CPD activities keep them updated on current trends, standards, and regulations in the profession, and encourage continuous quality improvement to their practice. The strengthening of one’s practice satisfies one’s need for