Enterprise professional development: adding value to enterprises?

The introduction of Professional Standards legislation across Australia in 2003 reinforced a requirement of professional associations that professionals undertake professional development in order to maintain and enhance their knowledge. A case study of small/medium accounting enterprises determined that Professional Standards legislation had no impact on the way professional development is conducted. The research identified: a) the substantial benefits to professional enterprises generated by professional development; b) enterprises invest considerable time and money in professional development; and c) the factors influencing the outcomes. Greater understanding of professional development potentially increases the knowledge held and available to the public.