Thirty-seven new candidates qualify as CAs despite a decline in the pass rate
A total of 37 candidates recently successfully cleared the final hurdle to becoming fully-fledged Chartered Accountants in the interest of and benefit to the public and private sector.
The 37 successful candidates constituted 38% of candidates enrolled to write the localised Assessment of Professional Competence (APC) examination, written on 17 December 2020.
Due to the Covid-19 regulations, candidates obtained their results via email or opted to collect their results envelopes at the Institute of Chartered Accountants of Namibia (ICAN) head offices. The candidates also received sponsored gifts from Capricorn Group.
While the results reflect a decline in the pass rate, which stands at 51% for the 2019 December APC cohort, ICAN says it demonstrates the high professional standards required from prospective Chartered Accountants (CAs in Namibia) to qualify.
“ICAN’s commitment to its members and the public is that the CA (NAM) designation is of the highest standard of excellence, able to meet the demands of the future market, driven by the skills of the 21st century,” ICAN President, Arne Stier, in his letter to all candidates.
Stier also highlighted ICAN’s pride in its transformation initiatives across the pipeline which is bearing fruit, translating into more African and female candidates sitting the APC. The transformation initiatives ensure that there is a constant flow of suitably qualified accounting professionals who are representative of the country’s demographics into the Namibian economy. 73% of the candidates who wrote the December 2020 APC are previously disadvantaged, of which 51% are previously disadvantaged females.
Stier further congratulated Mr. Waylon Wentzel, who earned a place on ICAN’s prestigious APC Honors Roll. The roll is made up of candidates who demonstrate exceptional performance and show the greatest insight into the way they complete the APC.
ICAN is Namibia’s pre-eminent accountancy body with over 700 full Chartered Accountant members. The Chartered Accountancy profession opens the door to a vast range of exciting career opportunities, in every sector of business and finance and successful candidates are encouraged to see themselves as a part of the development of the nation.
“As one of the largest financial services groups in Namibia, Capricorn Group is proud of its partnership with ICAN and will continue to sponsor and support the institute’s endeavours to ensure the highest standards of excellence for the accountancy profession,” said Marlize Horn, Group Executive: Brand & Corporate Affairs.