The Public Accountants Examinations Board (PAEB) on 4 October 2022 released the results of the September 2022 Certified Public Accountants (CPA) examinations. The examinations were held from 12 – 16 September 2022 at the UMA at the Uganda Manufacturers Association (UMA) Lugogo Showgrounds, Multipurpose Hall, and for the CPA course only. There were 3,367 candidates. This compares favourably with similar diets in the past, that is, 93.8% in March 2022.
While delivering an address on behalf of the Chairman of PAEB, CPA Derick Nkajja, the Secretary/CEO of ICPAU noted that the average pass rate has slightly declined from 39.6% in March 2022 to 35.8% this September.
He further noted that the performance in the core/computational/analytical subjects such as Financial Reporting, Management Decision & Control, Advanced Financial Reporting, Advanced Financial Management, Auditing and Other Assurance Services, and including Integration of Knowledge had not been impressive.
“This year we have four exams diets and students have a tendency to want to sit for the exams each time there is an exams diet, even without adequate preparation,” said CPA Nkajja.
“Students should study for the exams for not less than at least twenty one weeks, in order to ensure adequate syllabus coverage, except when they are absolutely certain of their level of preparation,” he added.
ICPAU President, CPA Constant Othieno Mayende re-echoed the need for candidates to prepare adequately for exams if they are to pass.
“Passing exams heavily depends on the students, hence the need to prepare adequately, by being up to date with the standards,” he noted.
He further noted that the Institute continues to accelerate engagement with key stakeholders like the accountancy trainers, in order to facilitate a smoothening out of the pass rates.
In terms of gender, out of the 4,762 papers attempted, 2,477 (52%) were by females and 2,285 (48%) by males. The individual papers passed by female candidates were 897 (18.8%) of the females and 809 (17%) were by male candidates.
In terms of age, of the 1,706 passes registered, 254 (14.9%) were by candidates in the 18 – 24 years age bracket, 744 (43.6%) in 25 – 29 years age bracket and 440 (25.8%) in the 30 – 34 years age bracket. The remaining 268 (15.7%) passes were registered by candidates above the 34 years age.
With the release of the results of the September 2022 exams, 98 students have completed the CPA course compared to 93 who completed in March 2022. Of the 98 students, 49 (50%) are female and 49 (50%) are male. The cumulative number of students who have completed the CPA course is now 4,687.
CPA Nkajja also informed members of the press that the revised syllabuses for the Accounting Technicians Diploma (ATD) and CPA have been approved by the National Council for Higher Education as required by Section 16(2) of the Accountants Act 2013. The syllabuses will be examinable in June 2023.
Here is what some top performers had to say.
I am super excited about the win. Words are not enough to explain it. The feeling I had in 2010 when I emerged the 2nd best student in kabarole district in UACE is re-manifesting in 2022 in CPA. I studied through in-person classes at a training institute. My success tips are: personal commitment, dedication, commitment an encouraging lecturer and above all God's grace. My advice to continuing students is that they should never give up because there is light at the end of the tunnel. The CPA journey is a bitter sweet journey with a beautiful ending.
Doreen Kyomuhendo,
Top Candidate and Best Female Student
Integration of Knowledge – Paper 18
I am extremely happy. I didn't expect it. However, I worked hard for it. I attended online classes at MAT and did extra lessons with CPA Zed, coupled with group discussions. My success tips are prayer, commitment, continuous revision and the encouragement from my husband.
Eron Nabatanzi
Top Candidate, Financial Reporting – Paper 8
I am extremely joyous at this point. I am very proud of myself and more than grateful to the most high God for torching his light upon my path. I studied privately, but under the guidance of a very good friend andl Lecturer, Francis Bazzekuketa. My success tips are: prayer, self-belief and hard work. You have to pray about the success, believe you can achieve it then put in the work day in day out.
Alfonse Opoka Oroma
Top Candidate
Quantitative Techniques – Paper 2
This win means the beginning of a new career for me, especially amidst the COVID 19 and Economic Challenges in Uganda. My mode of study involved attending classes at Glory Professional, MAT-ABACUS and Sammy Professional Trainers and Consultants, among others. ICPAU reading materials, examiners Comments, ICPAU youtube videos for engagement seminars, discussion groups and committed tuition providers were helpful. I also attribute my success to my supportive family, and above all, God. My next step is to finalize my PET, apply for membership of ICPAU and begin practising, of course with continuing Learning.
For continuing students, I advise them to attempt more than one paper in each sitting so as to avoid disappointments and frustrations that come with failing a lone paper attempted. They should also know that CPA requires time and they should therefore dedicate enough time and other resources to it.
Jackson Nshimye
Third Top Candidate
Integration of Knowledge – Paper 18
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