Business
Report errant accountants to us—ICPAU urges employersPublish Date: Jul 08, 2014
Report errant accountants to us—ICPAU urges employers
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Patrick Kagolo(L), the president of the institute of Certified Public Accountants of Uganda and the chairman of the Accountants Examination Board, Authman Mayanja during the release of the 2014 examinations for public accountants. PHOTO/ Agnes Nantambi
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By Billy Rwothungeyo
 
The Institute of Certified Public Accountants of Uganda (ICPAU) is encouraging all employers to report to them the cases of misconduct by employees who are members of the accountants’ body.
 
“We can only learn whether we are improving or not by handling cases. We believe there are cases out there, but we do not know where to get them from. We cannot fish them out unless they are reported,” Derrick Nkajja, ICPAU’s CEO said yesterday after the Public Accountants Examinations Board released the June 2014 examination results.
 
Nkajja said fraud by accountants in the service industries are only dealt with by employers internally.
 
“If you dismiss, you should let us know why you dismissed the person. If it is a professional misconduct, we should be able to handle it.”
 
He added: “If a dismissed employee goes back to the pool of accountants looking for jobs, you are sending the problem to the next employer.”
 
ICPAU conducts examinations for two courses; the Accounting Technicians Certificate Of Uganda – ATC(U) and Certified Public Accountants Of Uganda - CPA(U)
 
For the ATC(U) qualification, there were 391 candidates for the June 2014 examinations compared to 450 candidates in November 2013. The average pass rate was 58.5% compared to 57.9% in November 2013.  
 
For the CPA(U) qualification, 4,797 candidates sat for the June 2014 examinations, compared to 4,606 candidates in November 2013. The average pass rate was 45.0% compared to 46.5% in November 2013.  
 
“Cumulatively 1,498 students have qualified as professional accountants through our examinations scheme,” revealed Uthman Mayanja, the Chairman of the Public Accountants Examination Board.
 
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