Accountants to undergo practical training
According to Uthman Mayanja, chairman of the Accountants Examinations Board, the training will also provide valuable wor ...
The institute of chattered public accountants (ICPAU) has introduced a practical accountancy training module, which according to officials will lift the quality and integrity of Chattered Public Accountants in the country.
According to Uthman Mayanja, chairman of the Accountants Examinations Board, the training will also provide valuable work experience that students usually lack at the end of their training programs.
"We want to sharpen and add to the knowledge and skills students obtain during normal CPA training, but also make them absolutely competitive in any part of the world," he said.
Mayanja was speaking on the sidelines of the August 2016, CPAU exam release at the Imperial Royal Hotel in Kampala
He said the training, which was rolled out early in the month, will empower aspiring CPAs in accountancy related topics, to operate competently before they are passed out as professional accountants.
The institute's decision to offer the training, however, comes at the time when it is also concerned over the quality of instruction given to students, with a less than 50% pass rate recorded at every sitting.
"Much as there are issues of the high standards set by the institute and the low concentration by the students, there are also issues that must be addressed by those who tutor them before they sit for exams," he said.
"CPA exams in themselves are hard and the people that are released into the market are supposed to be the most competent that passed the exams. However, the trend as you may observe indicates that the tutors are not providing enough," Mayanja said.
He said the exam board has already recommended working closely with tuition providers recognized by the institute, in the hope that the quality of tuition will improve and also the pass rates." so far, a cumulative total of 2,629 students have completed the CPA course since its inception and this is reducing the accountants deficit in the country, but more efforts are still needed to ensure that the gap is completely eliminated," said derrick Nkajja, the ICPAU chief executive.
Protazio Begumisa, the ICPAU president said the practical training will be supervised by a member of the institute or an approved organization to ensure that the desired quality is attained.
He added that that the course will help the trainees in becoming aware of the environment in which services are provided, enhance their understanding of organizations, teach them professional work relationships and how business works, and enable them to relate accounting work to other business functions and activities.
"It will also help in developing the trainees' appropriate professional values, ethics and attitudes in practical real-life situations, and give them an opportunity to develop at progressive levels of responsibility while under appropriate levels of supervision," he said.