The Public Accountants Examinations Board (PAEB) of the Institute of Certified Public Accountants of Uganda (ICPAU) recently announced the results of the August 2023 accountancy exams. Unfortunately, the results showed a decline in overall performance.
Out of the 3,919 candidates who took the exams, only 32.9% managed to pass. It’s worth noting that this represents an improvement from the June 2023 exams.
The announcement of these results took place at the Skyz Hotel in Naguru, with ICPAU President Josephine Okui Ossiya and PAEB Chairperson Laura Aseru Orobia emphasizing the importance of candidates taking their exams seriously to secure a future in the accounting profession.
This was the second examination cycle following the new syllabus, and one of the papers, Paper 18 (Integration of Knowledge), was conducted as a computer-based exam.
Orobia pointed out that one of the main reasons for the high failure rates was the use of a study method called “spotting,” where candidates focus on specific areas when preparing for the exams. She noted that the August exams were meant to provide an opportunity for those who had previously failed to catch up, but it appeared that candidates did not allocate enough time for preparation.
Orobia also stressed the increasing importance of computer skills in today’s job market, including email usage, word processing, spreadsheet creation, slide show presentations, PDF handling, file compression, and internet navigation, among others. She expressed concern that the failures were particularly prominent in the core papers of the Certified Public Accountancy course, which assess the technical competence of accountants.
The papers with the highest failure rates were Financial Management 8, Advanced Financial Reporting 12, Public Financial Management 13, and Advanced Financial Management 15.
Orobia also noted that out of the 3,919 candidates, there were more female candidates (2,144, or 54.7%) than male candidates (1,775, or 45.5%) for the August 2023 exams. The pass rate for female candidates was slightly higher at 34.1% compared to the 31.5% pass rate for male candidates. She applauded the success of female candidates, with 13 out of the top candidates being female (61.9%) and 8 being male (38.1%). The top candidate at the final level was also female.
The cumulative number of students who have completed the CPA course is now 4,958, with 1,942 (39.1%) being female and 3,016 (60.9%) being male.
Orobia also observed a decline in performance as candidates advanced through the levels, with lower-level papers achieving better results than higher-level ones.
ICPAU President Josephine Okui Ossiya encouraged students to be focused and intentional in their preparations to improve the pass rate, which still remains low.
The Institute of Certified Public Accountants of Uganda successfully conducted the computer-based examination for Paper 18: Integration of Knowledge. ICPAU’s chief executive officer, Derick Nkajja, congratulated the successful candidates and unveiled the new council and examination board, highlighting the changes made since the last cycle.
