The SMSF Professionals' Association of Australia (SPAA) has developed an online questionnaire to assess SMSF technical knowledge and recommend CPD activities and events.
The SPAA SMSF Continuing Professional Development (CPD) Compass then recommends specific focus areas for upcoming CPD activities.
SPAA said the tool has been designed to support members with their CPD, which is a key component of membership in 2014/2015.
SPAA's head of education, Liz Ward, said SPAA wants to see professionals “making the most of their CPD requirements by empowering them to pinpoint activities that genuinely improve their knowledge and skills”.
“It’s better for the individual, it’s better for trustees and it’s better for the profession as a whole,” Ms Ward said.
The release of the CPD Compass follows the launch a few months ago of SPAA’s CPD Hub, an online database of accredited CPD activities which generates results based on profession, topic and level of knowledge, as well as delivery type, location and cost.
“SPAA is heavily focused on innovating in the area of CPD because we recognise practitioners have a range of obligations to satisfy - from regulators, licensees to professional associations,” said Ms Ward.
“The volume of information practitioners must understand is also growing exponentially, making it challenging to navigate through the CPD noise.”
Ms Ward said both the CPD Compass and CPD Hub directly meet this challenge and allow members to “tailor unique CPD plans based on their individual needs”.
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