The Institute of Certified Public Accountants of Uganda (ICPAU) has this Monday (Sept. 18) released the August 2017 Certified Public Accountants of Uganda – CPA (U) course results indicating 3.1% pass rate decline when compared with the June 2017 examinations.

While releasing the results in Kampala Uthman Mayanja (CPA) and Chairman of the Public Accountants Examinations Board (PAEB – body responsible for overseeing these exams), said the average pass rate for August examinations was 31.9% down from 35.0% in June 2017.

Officials said that the decline in performance was partly attributed to limited time available for students to prepare for these examinations. They said that most candidates who sit for the August examinations are ones that fail ones (exams) for June.

Mayanja said the August examinations had 97 candidates compared to 107 candidates recorded in June 2017.

Out of the 18 papers that were examined under this course, advanced financial reporting was the worst performing paper with 13.1% pass rate while economic environment was the best paper done with 88.0% pass rate.

Protazio Begumisa, the president of ICPAU urged students to up their performance by reading widely, getting practical training from institutions and using experienced lecturers. He said that the Institute aims at increasing the number of professional accountants from the current 3,000 to 5,000 in the next three years to match with the country’s development path.

“…our training is good,” Begumisa said. “There are not so many ICPAU members on the street; they are competitive.”

Derick Nkajja, the ICPAU chief executive officer said that the examinations being released and the training offered were the foundation of the accountancy profession and needed to be handled well for the betterment of the profession and the economy.

“If we are training badly, the employers will get less than what is desirable,” Nkajja said.