Pass rate boost for new ICAS syllabus
Students taking second year exams at The Institute of Chartered Accountants for Scotland have fared substantially better under the Test of Professional Skills syllabus.
Of the 102 students who took the TPS exam, 70% passed under the new format, compared with just 44% who took the old-style exam in February.
This followed another batch of good ICAS results released last week, which saw 81% of students pass the Test of Professional Expertise, the final set of exams students must sit to obtain the CA qualification.
Mark Allison, director of education at ICAS, said the new TPS qualification ‘focused on financial reporting – at the expense of management accounts’ – with the remainder of the course made up of business systems and assurance, advanced finance and taxation.
He said it had been a challenge to keep the CA qualification relevant to ‘today’s business marketplace’, but praised the work of students, firms and the institute in keeping the standards high.
To obtain an CA qualification from ICAS, students must complete three levels of study – the Test of Competence, TPS and TPE – as well as a training contract.
ICAS has become increasingly popular with big firms with Ernst & Young and PricewaterhouseCoopers leading the way as more students begin to train with the Scots body.
With such a dramatic leap in the pass rate, more firms could now be encouraged to follow the lead, with some mid-tier firms already thought to be considering the option.
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