Welcome to the
IPA Professional Practice Program

The Professional Practice Program is a compulsory program, which all new Professional Practice Certificate (PPC) holders and aspiring PPC holders must attend within six months of receiving their Practicing Certificate. Attending and completing the program is the final step to become a PPC Holder. 

The program is a self-paced course that provides you with the tools you will need to both understand and successfully tackle today's complex business environment and to also meet the growing demands on you the professional practitioner.

The program is designed primarily to help new Professional Practice Program certificate holders identify:
  •   Their professional and legal obligations; and
  •  The key elements of a successful practice.

Completing your Professional Practice Program (PPP):


1. Navigate to the course Module Menu on the left side of the screen.
2. Begin with Module One (1) and work your way through each module.
3. For each module, read the content and watch any videos.
4. There are downloadable PDF resources available for each module. You can access these by clicking on the "Paper clip" on the left-hand side of the Module Menu.
5. For any links within the modules, please open these in a new browser.
6. Make sure to review and understand the content of each module before moving on to the next one.
7. A tick will appear at the end of each module to verify the module section has been read.
8. A discussion space is available to post any questions or support you may need during the course. Here you can either submit any questions relating to the course content or you can engage with fellow participants in the group chat by posting in the discussion section. This is located in the Information & Support section of the modules.
9. Once you have completed all 12 modules, you will have finished the online program.
10. To complete the assessment, there are 30 multiple choice questions to answer. You will have two (2) hours to complete.
11. Participants require a 50% pass mark to complete the program. (15 out of 30 questions answered).
12.  Should you not successfully complete your assessment, you will be offered an opportunity to re-sit the competency assessment.
13. An assessment re-sit is subject to an additional cost. If you are still unsuccessful, you will be required to repeat the Professional Practice Program and successfully pass the assessment. Should you not pass the second time, you will be required to repurchase the PPP and complete the course from the beginning.

If you have any questions or need further assistance, feel free to reach out to Lauren Tedder lauren.tedder@publicaccountants.org.au , or please enter your question in the Discussion Space.

 Happy learning!

  About the Program   

  • The Professional Practice Program (PPP) includes 12 modules, each with presentation notes, reading material and videos, followed by an assessment upon completion of all modules.  
  • To pass the PPP, attendees must successfully complete the assessment and read through all modules.
  • The assessment will consist of 30 multiple choice questions and you will have 2 hours to complete the assessment.   
  • Participants require a 50% pass mark in order to complete the program. (15 out of 30 questions answered).  
  •  Should you not successfully complete your assessment, you will be offered an opportunity to re-sit the competency assessment.  
  • An assessment re-sit is subject to an additional cost. If you are still unsuccessful, you will be required to repeat the Professional Practice Program and successfully pass the assessment.  
  • You will be issued with a Professional Practice Program Certificate upon completion. 

Benefits of the Professional Practice Program 

  • A single point of reference that provides answers to most practitioner questions. 
  • A comprehensive set of course materials with case studies, illustrations and references. 
  • Guided learning to ensure you have covered practice essentials
  • Addresses overwhelming issues faced by new practitioners. 
  • Expert examination of issues and arguments. 
  • 42 hours of Continuing Professional Development (CPD). 
  • Completes one of the mandatory conditions for PPC eligibility.  
  • Discussion of contentious issues common to accountants in practice together with expert advice. 
  • Guided learning to ensure you are on top of practice essentials. 
  • Provides advice and navigates a way through the maze of regulation. 

CPD hours 

The Professional Practice Program is worth a total of 42 CPD hours, please note that the hours are split into Verified and Unverified. 
42
CPD Hours
12
Verified
30
unverified

Professional Practice Program Structure 

Module 1: Introduction to the Accounting Profession 
1.1 Historical Developments that have Shaped Accounting Practice
1.2: Professional and Ethical Standards
1.3: Practice Structures
1.4: Practice Entry Options
1.5: Market Trends Affecting Practice Owners
1.6: Practice Growth Opportunities
1.7: The Future of the Accounting Profession
1.8: Other Information to Consider 

Module 2: APES 100 Code of Ethics for Professional Accountants 
2.1 Introduction – Professional and Ethical Standards
2.2: APES 110 Code of Ethics for Professional Accountants (including Independence Standards)
2.3: APES 110 Glossary
2.4: Scope and application
2.5: Section 100 – Complying with the Code
2.6: Section 120 – The Conceptual Framework
2.7: Section 200: Applying the Conceptual Framework – Members in Business
2.8: Section 300: Applying the Conceptual Framework – Members in Public Practice
2.9: Section 310: Conflicts of Interest
2.10: Section 320: Professional Appointments
2.11: Section 321: Second Opinions
2.12: Section 325: Objectivity of an Engagement Quality Reviewer and Other Appropriate Reviewers
2.13: Section 330: Fees and Other Types of Remuneration
2.14: Section 340: Inducements, Including Gifts and Hospitality
2.15: Section 350: Custody of Client Assets
2.16: Section 360: Responding to Non-Compliance with Laws and Regulations
2.17: [AUST] Preface: Part 4A and Part 4B
2.18: Section 400: Applying the Conceptual Framework to Independence for Audit and Review Engagements
2.19: Section 405: Group Audits
2.20: Section 410: Fees
2.21: Section 411: Compensation and Evaluation Procedures
2.22: Section 420: Gifts and Hospitality
2.23: Section 430: Actual or Threatened Litigation
2.24: Section 510: Financial Interests
2.25: Section 511: Loans and Guarantees
2.26: Section 520: Business Relationships
2.27: Section 521: Family and Personal Relationships
2.28: Section 522: Recent Service with an Audit Client
2.29: Section 523: Serving as a Director or Officer of an Audit Client
2.30: Section 524: Employment with an Audit Client
2.31: Section 525: Temporary Personnel Assignments
2.32: Section 540: Long Association of Personnel (Including Partner Rotation) with an Audit Client
2.33: Section 600: Provision of Non-Assurance Services to an Audit Client
2.34 Section 800: Reports on Special Purpose Financial Statements that include a Restriction on Use and Distribution (Audit and Review Engagements)
2.35: Section 900: Applying the Conceptual Framework to Independence for Assurance Engagements other than Audit and Review Engagements
2.36: Section 905: Fees
2.37: Section 906: Gifts and Hospitality
2.38: Section 907: Actual or Threatened Litigation
2.39: Section 910: Financial Interests
2.40: Section 911: Loans and Guarantees
2.41: Section 920: Business Relationships
2.42: Section 921: Family and Personal Relationships
2.43: Section 922: Recent Service with an Assurance Client
2.44: Section 923: Serving as a Director or Officer of an Assurance Client
2.45: Section 924: Employment with an Assurance Client
2.46: Section 940: Long Association of Personnel an Assurance Client
2.47: Section 950: Provision of Non-Assurance Services to Assurance Clients other than Audit and Review Engagement Clients
2.48: Section 990: Reports that include a Restriction on Use and Distribution (Assurance Engagements other than Audit and Review Engagements)
Transitional Provisions 

Module 3: APES 200 All Members 
3.1: Introduction – APES 200 series of Standards
3.2: APES 205 – Conformity with Accounting Standards
3.3: APES 210 – Conformity with Auditing and Assurance Standards
3.4: APES 215 – Forensic Accounting Services
3.5: APES 220 – Taxation Services
3.6: APES 225 – Valuation Services
3.7: APES 230 – Financial Planning Services 

Module 4: APES 300 Members in Public Practice 
4.1: Introduction – APES 300 Series of Standards
4.2: APES 305 – Terms of Engagement
4.3: APES 310 – Client Monies
4.4: APES 315 – Compilation of Financial Information
4.5: APES 320 – Quality Management for Firms that provide Non-Assurance Services
4.6: APES 325 – Risk Management for Firms
4.7: APES 330 – Insolvency Services
4.8: APES 345 – Reporting on Prospective Financial Information prepared in connection with a Public Document
4.9: APES 350 – Participation by Members in Public Practice in Due Diligence Committees in connection with a Public Document
4.10: APES Guidance Notes applicable to all IPA Members (GN 20 series)
4.11: APES Guidance Notes applicable to IPA Members in Public Practice (GN 30 series) 

Module 5: Statutory Registrations 
5.1: Introduction – Statutory Registrations
5.2: Intellectual Property Protection
5.3: ASIC Registration Requirements
5.4: Tax Practitioner Board Registration - Introduction
5.5: Tax Practitioner Registration Requirements
5.6: Registration Exemptions
5.7: Maintaining your Registration
5.8: TPB information products 

Module 6: Regulatory Compliance 
6.1: Regulatory Compliance Overview – Financial Reporting and Auditing
6.2: Financial Reporting Council (FRC)
6.3: Australian Accounting Standards Board (AASB)
6.4: Australian Auditing Standards Board (AUASB)
6.5: Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) 

Module 7: Professional Practice Program Co-regulatory Compliance 
7.1: Introduction – The IPA Constitution
7.2: Introduction – The IPA By-Laws7.2: Introduction – The IPA By-Laws
7.3: IPA Pronouncements
7.4: IPA Quality Review Program (QRP)
7.5: Professional Standards Scheme 

Module 8: Professional Practice Program The Strategic Business Plan 
8.1: Introduction – Business Planning: Creating your Economic System.
8.2: The Business Mission Statement
8.3: SWOT Analysis
8.4: Focused Strategic Planning
8.5: Determine the Customer Value Proposition8.5: Determine the Customer Value Proposition8.5: Determine the Customer Value Proposition
8.6: Deliver the Product or Service Promise
8.7: Focused Strategic Planning Conclusion
8.8: Questions to consider for your Strategic Business Plan 

Module 9: Professional Practice Program Financing Your Practice 
9.1: Introduction
9.2: Establishing a new Practice or Purchasing an Existing Practice.
9.3 Start-up Factors for Consideration
9.4 Setting Goals Case Study – Start Right Accountants and Advisors
9.5 Cash-Flow Planning for the Sole Practitioner Start Up.
9.6: Buying a Practice Key Factors to Consider
9.7: Earned Value Practice Valuation Method
9.8: Due Diligence Check List
9.9: A Business Plan for Raising Finance. 

Module 10: Professional Practice Program Staffing your Practice
10.1: Practice Culture
10.2: Employees vs. Contractors
10.3: Recruitment
10.4 Workplace Health and Safety (WHS)
10.5: Australian Workplace Laws and the role of the Fair Work Ombudsman
10.6: Staff Dismissal 

Module 11: Professional Practice Program Marketing your Practice 
11.1: Introduction – Marketing your Practice.
11.2: Identifying your Target Market Demographics.
11.3: Identifying your Market Place.
11.4: Seasonality and Timing of Buying Decisions.
11.5 The Buying Decision
11.6: Contemplating Options
11.7: Buyer Heuristics
11.8: Mapping the Marketing Campaign Activity
11.9: Marketing Investment Planning 

Module 12: Professional Practice Program Cyber Security 
12.1: Introduction – Cyber Security
12.2: Cyber Security Hygiene
12.3: Patching Microsoft Windows Operating Systems and all Applications
12.4: Running Anti Malware Software
12.5: Ensuring a Fully Functional Backup and Restore Process
12.6: Adopting Best Practice User Awareness
12.7: Overview – Landscape Threat
12.8: Overview – Email Phishing
12.9: Overview – Ransomware