Masterclass empowering foreign accountants to excel

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Masterclass empowering foreign accountants to excel
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The Institute of Certified Public Accountants of Uganda (ICPAU) has recognised the value of a masterclass for individuals holding Foreign Accountancy Qualifications (FAQ).

This masterclass serves as a crucial stepping stone for foreign qualification holders to fully leverage the benefits of becoming certified public accountants.

The primary objective of this masterclass is to provide participants with a clear pathway to professional growth, enabling them to access abundant networking opportunities, advance their careers, and maintain a strong compliance record as esteemed members of the accounting community.

These remarks were made during the announcement of the May 2024 examination results by the Institute of Certified Public Accountants of Uganda (ICPAU).

Ronald Mutumba, the vice president of the institute, said the successful completion of the inaugural masterclass for tuition providers held from June 12 to 15, aimed to enhance the quality of education and teaching methods employed by tuition providers.

"This initiative was designed to elevate the standard of education and professional expertise accessible to tuition providers. Our focus was on fostering effective teaching methods. I extend my appreciation to the pioneering tuition providers of this masterclass," he said.

Mutumba further mentioned that 32 tuition providers participated in the masterclass and would each receive recognition as Certified Tuition Providers.

"The tuition providers' masterclass represents a significant step towards improving the performance of students. The Council is confident that we are on the right track in addressing concerns related to student performance," he added.

Mutumba congratulated the candidates who excelled in their exams, acknowledging their hard work, dedication, and perseverance.

He urged them to utilise this success as motivation to reach even greater heights and become part of the prestigious global network of Certified Public Accountants (CPAs).

Mutumba also addressed candidates who had completed their courses, encouraging them to take pride in their accomplishments and consider becoming associate members of the institute.

Associate membership offers several benefits, including discounts for Continuing Professional Development (CPD) programs, access to the CPA SACCO's savings and credit facilities, career opportunities, and professional guidance.

For those who did not pass their exams, Mutumba offered words of encouragement, emphasizing the importance of perseverance and learning from setbacks.

He advised them to start preparing early for the upcoming exam diets scheduled in August and November 2024.

A total of 6,375 candidates sat for the exams, marking a 2.4 percent increase from the November 2023 session. The exams were conducted across seven centers in Uganda from May 20 to 24.

The pass rate experienced an improvement, rising to 43.7 percent from 38.5 percent in the previous sitting.

Notably, 81 students successfully completed the CPA course, bringing the total number of CPA graduates to 5,051.

Prof Laura Orobia, chairperson of the Public Accountants Examinations Board (PAEB), attributes the enhanced performance to various interventions, including increased student engagement activities and a masterclass focused on effective teaching methods for tuition providers.

Despite a participation rate of only 25.4% in these engagement activities, students who took part demonstrated improved performance in their exams.

Outstanding performers in each course were recognized, with a significant number of top positions secured by female candidates.

Orobia emphasized the importance of sustained engagement and the transition of ATD students to UBTEB examination centers by the end of 2025.

She extended her congratulations to all candidates who successfully passed their exams and expressed gratitude to all those who contributed to the success of the examination process.

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