Students at the School of Finance and Banking (SFB) performed exceptionally well in last year’s international accounts exam.
The exam, known as Certified Public Accountants (CPA), is overseen by the Kenya Accountants and Secretaries Examination Board (KASNEB).
KASNEB is an internationally recognized examining body that specializes in accountancy programmes. It has more than 30 training centres across the world and 40 years of experience.
Last year, SFB added the programme to its curriculum as a way of adding value to its graduates.
Originally, SFB trained accountants at the institution as one of the BBA programme majors.
Students still needed to study other professional courses before being accepted as professional accountants.
Speaking at the event to recognize the students’ excellence, the Vice Rector Academics, Dr. Papias Malimba, extolled the students’ level of commitment.
“This level of performance is attributed to many factors, among them; dedication of students, a solid foundation obtained through SFB BBA programme, and the intensive training that preceded the examination.
Among the 72 students who sat for the exam, 46 (64%) passed all papers in a section, 21 (30 percent) failed only one paper in a section.
Three students (4 percent) failed two papers in a section and only one student failed all papers.
According to the KASNEB representative in Rwanda, Peninah Nduati, people who undergo CPA become skilled and competent accountants, auditors, finance managers, tax consultants and practitioners.
“The CPA qualification has been refocused to produce a holistic professional who understand and is competent to operate in both public and private sector,” said Nduati.
The CPA examination is conducted twice a year; in June and December.
The examination is divided into three parts of two sections, with each section consisting of three papers.
The examination is also scaled on international standards promulgated by international bodies. These include; International Accounting Education Standards Board (IAESB), International Accounting Standards Board (IASB), International Auditing and Assurance Standards Board (IAASB) and the International Public Sector Accounting Standards Board (IPSASB).
In an interview with The New Times, SFB board chairman Prof. Mannaseh Nshuti, said that the school is looking into ways of increasing the number sponsored to do CPA in the subsequent admissions.
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