Pass rate for accountants improves

Kampala. The Institute of Certified Public Accountants of Uganda (ICPAU) on Monday released the examination results for the Certified Public Accountants of Uganda, which revealed improvements in performance.

The results show that the average pass rate for Certified Public Accountant (CPA) was 45.6 per cent in the November 2015 examination compared to 38.5 per cent for August 2015 exams. For the Accounting Technicians Certificate (ATC), the results show that the average pass rate improved to 54.8 per cent up from 49.5 per cent in June.

Releasing the results at Imperial Royal Hotel in Kampala, the chairman of Public Accountants Examination Board of the Institute of Certified Public Accountants of Uganda, Mr Uthman Mayanja, who is also a partner with PriceWaterHouseCoopers said 552 candidates sat for ATC exams in November 2015 compared to 366 candidates in June.

A total of 35 candidates completed the ATC (Uganda) course in the November 2015 sitting compared to 34 in the June sitting who passed, cumulatively whereas 1,624 students have completed the ATC Uganda course, since it was established in 2001.

For the CPA course, Mr Mayanja said there were 5,327 candidates who sat for the November 2015 examinations, compared to 3,289 in August 2015.

“There were 231 candidates who completed the course and passed it compared to 127 candidates in August 2015, so far a cumulative total of 2,282 students have completed and passed the CPA course since it was established in the country in 2000,” he said.

Needed
The Assistant Auditor General, Ms Keto Nyapendi Kayemba, said: “Professional accountants are needed to provide the stewardship for the money being collected by Uganda Revenue Authority and ensure the money is properly recorded and utilised. Ms Nyapendi said there are 9 million professional accountants in Africa with 40,000 registered accountants in Nigeria and only 3,700 in Uganda.

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