The number of students who passed the Certified Public Accountants (CPA) course since its inception in Uganda has slightly surpassed the 3,000 mark.
At a function held today at Imperial Royale Hotel in Kampala, the Public Accountants Examinations Board (PAEB) revealed that 97 students passed the August exams, bringing the number of students that have obtained a CPA qualification to 3,015 students.
PAEB said the number of candidates that sat for the August exams was 3,607, a drop from 5,498 in June 2017, and that the average pass rate was 31.9%, a drop from 35% for the same period.
The best performed subject was Economic Environment with a pass rate of 80%, followed by Business Management and Information Systems with a pass rate of 76.1%.
The least passed subject was Public Sector Accounting and Reporting, with a pass rate of just 9%.
Speaking at the function the ICPAU President Protazio Begumisa blamed the poor performance on limited study materials, but was optimistic there would be improvement in the next exams.
“The biggest problem has always been limited study materials but recently we received these and they will be used by the next candidates,” he noted.
The examinations, exclusively for the CPA course, were held from Monday, August 21 to Friday, August 25, in Kampala.
Meanwhile, as ICPAU marks 25 years of existence, PAEB is marking 20 years of existence.
“As you may be aware, we have been celebrating 25 years since ICPAU was established. I am happy to note that PAEB has been part of this journey. This year marks 20 years since the establishment of our examinations scheme. The maiden examinations were conducted in December 1997,” Begumisa remarked.
“Whereas we started with 44 candidates in Kampala, we now have over 7,000 active students,” he added.