Caroline Nassuuna
Communications Officer, ICPAU
- Give a brief background about ICPAU
The Institute of Certified Public Accountants of Uganda (ICPAU) is the national Professional Accountancy Organisation. ICPAU was established by the Accountants Act, Cap. 294 to regulate the accountancy profession in Uganda.
- Can one join the institute without a university degree?
Yes, one can join the Institute without a university degree.
- If yes, what are the needed qualifications (pass marks)? And what level of accountant would they be at?
According to the Accountants Act, Cap. 294, an accountant is only referred to as such if he/she is recognised as a full member of ICPAU and has fully completed the Certified Public Accountants Course (CPA (U)).
The minimum entry requirement for the course is a combination of “O” and “A” Level. One can join the Institute with the Uganda Advanced Certificate of Education (UACE) having at least two principal passes or the equivalent plus a Uganda Certificate of Education (UCE) with at least 5 credits, including English Language and Mathematics or the equivalent.
If one has a qualification above A-Level, the requirement for O-Level and A-Level is waived. That is to say, a Certificate/Diploma from a recognised professional accountancy body or a diploma in any other course pursued in a period of at least two years from a recognised university or institution of higher learning.
The Uganda Accountancy Qualifications Framework (UAQF) approved by the National Council for Higher Education (NCHE) ranks the various levels of the CPA course as follows:
- Level 1 certificate – Equates to a diploma
- Level 2 certificate – Equates to an advanced diploma
- Level 3 certificate – Equates to a bachelor’s degree
- Level 4/completion certificate – Equates to a post graduate qualification
- What courses does one have to do to level up to one with a university degree?
According to the UAQF, CPA level 3 is equivalent to a university degree.
This means that a CPA graduate holds a qualification which is above a university degree.
The UAQF recommends prioritising CPA holders for accountancy roles, regardless of whether they possess any other qualification.
Additionally, CPA is a prerequisite for admissions into Master of Business Administration (MBA) and Master of Science (MSc) programmes in Accounting and Finance without necessarily one holding a bachelor’s degree.
- If one is unsure if they have made the right decision to do accountancy, how do you help them?
The demand for professional accountants is rising with the growing business operations across the world.
In fact, there is a shortage of accountants. In Uganda, for example, we have only approximately 4,000 professional accountants in a market with thousands of enterprises and corporations.
Remember, accountants are required in all sectors, including business, non-governmental and public sector.
The opportunities are enormous. One can also opt for self-employment in accountancy practice, where one can set up their accounting firm offering audit services, tax consultancy, insolvency services, risk management, others.
Career prospects for accountants include Chief Executive Officer, Chief Operating Officer, Director of Governance, Director of Operations, Cost or Management Accountant, Resources Manager, Business Support Manager, Compliance Manager, Internal Auditor, Financial Controller, Head of Reporting, and Financial/Management Accountant, among others.
- What job positions are available for one who joined accountancy without a degree?
The CPA course is a global professional accountancy qualification offered in several countries.
The course focusses on the comprehensive development of an accountant, imparting a broad range of technical and professional skills.
The papers in the syllabus cover all the technical areas for professional accountancy education, including financial reporting, auditing, taxation, financial management, management accounting, insolvency practice and information technology.
Therefore, CPA graduates possess the complete competences and skills for accountancy roles.
Additionally, the CPA qualification makes one eligible to join ICPAU membership, which makes one recognised as a Certified Public Accountant (CPA).
This interview was compiled by Joan Salmon of Daily Monitor.
