The Public Accountants Examinations Board (PAEB) of the Institute of Certified Public Accountants of Uganda (ICPAU) has released the results of the March 2022 Certified Public Accountants (CPA) examinations.
The examinations were conducted from 14 –18 March 2022, at the Kampala centre. There were 2,890 candidates.
PAEB noted an improvement in the average pass rate, of 39.6% from 36.4% in March 2021. Females outshined the male candidates, with a pass rate of 53.7% against 46.3% for the male. Additionally, out of 21 top candidates for the subjects, 11 were female, while 10 were male. In terms of age, the highest pass rates were recorded among candidates in the 18 - 24 year bracket. 93 candidates completed the CPA course, bringing the cumulative completion number to 4,455.
However, PAEB noted with concern, the decline in performance for subjects such as Financial Management, Management Decision & Control, Advanced Financial Reporting and Public Sector Accounting & Reporting.
“The candidates need to improve their interpretation, computation, communication and analytical skills in levels 2 and 3 papers, and we call upon them to always endeavour to prepare for examinations, including doing practice/trial questions to sharpen their analytical skills,” CPA Geoffrey Byamugisha, the PAEB chairman said.
While speaking at the event, CPA Derick Nkajja, the CEO of ICPAU noted that the results are encouraging and that the Institute is optimistic that the results will disseminate the right message about the value of the profession.
CPA Constant Mayende, the President of ICPAU emphasized that the ICPAU examinations continue to lead as a premium professional accountancy qualification in line with the international standards.
“We are very well rated as a Professional Accountancy Organisation, by the International Federation of Accountants (IFAC), and with our qualification, our members are able to work anywhere in the world,” CPA Mayende said.
The March 2022 examinations diet was introduced to enable students to recover lost time due to effects of the COVID-19 pandemic. Other diets for 2022 are June, September and December. Registration for June commences on 5 April until 22 May. The examinations were exclusive to the CPA course.
CPA Byamugisha gave assurance that although COVID-19 is on a decline, the examinations were conducted under full observance of the Standard Operating Procedures (SOPs).
To compensate for lost time due to the COVID-19 disruptions, the Board has extended completion periods for students registered by 31 December 2020 by two (years).
Here is what the top candidates had to say
I attended classes at Glory Professional Trainers. I first attempted the Paper in 2020. I failed it twice. When I evaluated my performance I realised that I had concentrated more on the calculations and paid less attention to theory. Therefore, for March 2022 I balanced my revision. I kept notes on my phone to ensure that I read as often as possible. The ICPAU study kit was also helpful.
My advice to other candidates is to keep going and never give up until the goal is attained.
Top Candidate, Financial Management
I combined private study with part-time study at a training institute. This particular Paper was quite tricky albeit doable. As time is limited in an exam, I began with Section B in order to secure time for question one. I practised frequently and consulted with my colleagues who had previously excelled in the Paper.
My advice to other candidates is to read all the Standards.
Top Candidate, Advanced Financial Reporting
Mostly I prepared for the Paper through private study, using the ICPAU study material. While preparing for the exam, I would summarise the notes and then later I would go over the summaries.
My advice to other candidates is to pray, concentrate and read hard.
Top Candidate, Public Sector Accounting & Reporting
I attended both online and physical classes with Jack Mwebaze. I had struggles with Public Sector Accounting and Reporting but I did not give up.
My advice to other candidates is that they should never give up. There will be trying moments when you will feel that you have done everything and nothing seems to yield but you must keep going. Additionally, it is important to get guidance from tutors.
Top Candidate, Integration of Knowledg