The Institute of Certified Public Accountants of Uganda (ICPAU) has released examination results for the finalists candidates for the CPA accounting academic program.

The results were released by the ICPAU’s Public Accountants Examination Board (PAEB).

In a statement issued by ICPAU yesterday, the examinations which were conducted between 12 to 16 December 2022 in different examination centres across the country had 5279 candidates attempt the examination compared to 4940 in June 2022 representing a 6.8% increment in the number of candidates.

The statement further indicated that the average pass rate declined from 53.2% in June 2022 to 46.8% in December 2022.

To enable students recover lost time due to COVID-19 pandemic, four examination periods were organised.

Out of the 171 passes registered, 92 (representing 53.8% of the total enrolment) were by females and 79% (representing 46.2% of the total enrolment) by male candidates. This means female candidates performed better then their male counterparts.

The cumulative number of finalist candidates, according to ICPAU, now stands at 4803.

The ICPAU board also observed a number of reasons for the poor performance in core subjects. These include: Unable to integrate reporting standards as required, unable to tailor their answers in questions that relate to real life situations, are not up to date with especially in areas of professional standards, taxation and laws and have forgotten what was covered at the lower levels of the syllabus.

ICPAU also announced that the graduation ceremony of the finalists for 2020-2022 will take place on Friday 10, March 2022.

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