BY PAUL TENTENA
KAMPALA, UGANDA- The Institute of Certified Public Accountants of Uganda has set a target of hitting 5000 fully qualified Certified Public Accountants (CPAs) by 2020 to have a feeling that the country is well supplied.
According to Protazio Begumisa, the President of the Institute of Certified Public Accountants of Uganda (ICPAU), Uganda currently has about 3015 certified public accountants.
“We are happy that we have crossed the 3000 CPAs mark. Our target is to have at least 5000 by 2020. Countries like Nigeria have over 60,000 Certified Public Accountants,” said Begumisa during the release of the August 2017 CPA Examinations in Kampala.
The examinations results that were exclusively for Certified Public Accountants had 3607 candidates who sat compared to the 5,498 that were recorded in the June seating.
Uthman Mayanja, the Chairman of the Public Accountants Examinations Board (PAEB) said the reduction in number of candidates who sat over the June seating was because the August seating is an immediate examination diet.
“The average pass rate was 31.9% compared to 35% in June 2017. Economic environment was the best performed paper while Public Sector Accounting and Reporting was worst done at only 9% pass rate. We balme this lower pass rate on less preparations,” said Mayanja.
There were 97 candidates who completed the CPA course in August 2017 compared to 107 that finished in June 2017.