42 Qualify To Be Chartered Accountants In Namibia

42 Qualify To Be Chartered Accountants In Namibia

FORTY-TWO candidates passed their Assessment of Professional Competence (APC) examination set by the Institute of Chartered Accountants of Namibia (ICAN), which enables them to become chartered accountants.

The students went through a stern full-day examination last year November, which focused on showing them the real-life demands of the modern business world.

The results were announced by ICAN on Friday to former students, mentors, staff from auditing firms and the new chartered accountants, who had waited anxiously for the results at the Windhoek showgrounds.

As the bell rang, the students ran to a table with sealed white envelopes which had their names on. Soon, the room was filled with screams of joy and an exchange of hugs, accompanied by flowing tears.

The pass rate for this year's examinations dropped from 91% to 62%, with 42 candidates succeeding in a course that takes a minimum of seven years to complete for them to become chartered accountants in Namibia.

The students underwent training in corporate governance, business ethics, the application of international accounting as well as auditing standards, and can work in the public and private sectors.

Twenty-six of the passing candidates completed their undergraduate degrees at the University of Namibia; six were from the Namibia University of Science and Technology; while the remainder were at South African universities.

Speaking to The Namibian, Michele Lourens (27), who graduated at Unam, said she was excited because her articles are in the process of being signed off.

Her plans are to enrol for training on an audit development programme to become a registered auditor.

A trainee at Ernst and Young (EY), she advised those who did not make the grade to try again.

“It doesn't mean if you did not pass, you cannot try again. There is always another exam in November, but know what you did wrong,” she said.

Her fiancĂ©, Xavier Plaatjie, said he was proud of her achievement, adding that all the late nights had paid off. “It wasn't easy, there were a lot of late nights, not being able to see each other because of work, but she made it, so I am happy,” Plaatjie added.

Gideon Amakali (25) said he is relieved to have passed, noting that the examination was not easy as the pass rate shows.

“If you look at the statistics, it is becoming more difficult. They only want the best to go through,” he stated. Amakali, who did his bachelor's degree at Unam and completed two years at the North-West University in South Africa, said every success comes from hard work.

Nangula Uaandja, PwC Namibia country senior partner and Amakali's mentor, said she was proud of the candidates who had passed their exam. She said this year, the auditing firm had a pass rate of 82%, with 14 candidates qualifying in passing the examination. The firm had 17 students who wrote the examinations.

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