The demand for a professional accountancy qualification has remained high during tough economic times as the results from the Association of Chartered Certified Accountants (ACCA) examinations in June reveal that 196,000 students sat papers, with more than 6,000 taking a major step towards membership of the global body for professional accountants.
Candidates around the world took more than 373,000 papers, with 6,294 students successfully completing their final ACCA examinations. A further 2,978 students completed the Certified Accounting Technician (CAT) exams.
At the Fundamentals level, pass rates were particularly pleasing for the tax and law papers. Students continue to find papers F5 Performance Management, F7 Financial Reporting and F8 Audit and Assurance challenging. At the Professional level the pass rate remains strong in paper P1, Governance, Risk and Ethics which tests students' professional judgement. This is the first session to place a greater emphasis on risk assessment and risk management within the exam.
The results for optional papers P4, Advanced Financial Management, P5, Advanced Performance Management and P7, Advanced Audit and Assurance were disappointing. Generally those students failing were not able to apply their technical knowledge to real-life practical scenarios. ACCA is working on support packages becoming available for students and tutors in the optional papers.
"Our new e-assessment model will enable us to test students’ knowledge and skills in a way which more accurately reflects real-life workplace scenarios and activities and which meet employers’ needs, creating the e-professional," says Clare Minchington, ACCA Executive Director - Learning and Products.
The first papers will transition to the new system in 2012 with all papers being phased over the next few years.
ACCA already offers Computer Based Exams (CBE), first introducing them in 1998, and has since implemented e-paper production and e-marking of its scripts.
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