Accountants pass rate improves slightly to 39 pc

September 19, 2018 in Finance, Financial Services, Policy by Editor

September 19, 2018—The Institute of Certified Public Accountants of Uganda (ICPAU) has released the results for August 2018 examinations indicating a slight improvement in performance, but still below 50 pc of the 3748 who actually sat for the various papers.

While announcing the results on Tuesday, ICPAU president, Frederick Kibbeddi congratulated those who passed saying that the exams are a way of ensuring quality and professionalism in the accountancy sector.

“The 39.6 pc pass is not good enough, but accountancy is not a field for the fainthearted. We are more concerned with the quality of public accountants that we produce than the numbers,” he said.

Last year the percentage of those who passed was 31.9 pc with 3607 candidates. ICPAU is the national body for professional accountants in Uganda. It currently offers two qualifications, with one leading to a professional accountant (CPA Uganda) and an accounting technician (AT), which is considered a foundation of accountancy.

Kibbeddi once again highlighted the important role that accountants play in developing institutes and the country as a whole. “Accountants are the gatemen against corruption and can spur development if they are allowed to make influential contributions. Uganda needs to appreciate our role and put in place policies that protect and grow the profession,” he said.