The IFP carries out random audits of members’ CPD records. As an FCA Accredited Body we have an obligation to audit a minimum of ten percent of records a year. As an FPSB Affiliate we have a similar obligation with respect to auditing CFPCM professionals' records.
In normal circumstances we will audit members’ CPD records for the immediately preceding membership year. If your records are selected for audit:
- You will be notified in writing and asked to submit all documents for the relevant period. This will include your CPD log and supporting evidence for the 21 hours' structured requirement. Examples of evidence include: attendance certificates or other forms of confirmation; examination passes; minutes or notes.
- The IFP accepts CPD logs in a range of formats.
- Your CPD log and evidence will be reviewed by the IFP Professional Standards Department and assessed to determine whether they meet the standards or if any additional information is required
- Within a period of eight weeks, you will receive confirmation from the IFP whether you record is acceptable or if further action is needed.
Deficient Audit Results
If your CPD log is incomplete and/or you have not provided the required supporting evidence, you will be informed and guidance given as to the action required. You will then be asked to resubmit the information.
For full details, see our guide to CPD.