Chartered Accountants Ireland published the FAE August 2017 exam results this morning. Overall the results are very good and are broadly in line with the good performances achieved in August 2016.  In reviewing the results Ian Browne (Head of Assessment & Syllabus) noted: 75% of students achieved a pass in all papers sat with a further 18% achieving a credit (i.e. passing one or more of papers sat). This compares to 80% and 14% in 2016. The number of students failing all papers sat was 7% (6% in August 2016); Paper pass rates: The pass rates on individual papers are broadly in line with the good performances of August 2016; The flexible route candidates have continued to perform well; The distance education offerings have also performed well.  A breakdown over the past 3 year’s results is as follows: Overall Performance Pass Credit Fail FAE 2017 75% 18% 7% FAE 2016 80% 14% 6% FAE 2015 65% 19% 15% FAE 2017 Subject Pass Rate per paper The overall performance in 2017 has been driven by the continued good performances across the Core & Elective papers. (as shown in table below): Overall Performance CORE AAA APM ATX (NI) ATX (ROI) FAE 2017 93% 78% 75% 76% 80% FAE 2016 94% 78% 86% 81% 81% FAE 2015 80% 68% 75% 69% 65% Mr Browne congratulated all students on their achievement and he thanked all the training firms, lecturers, examiners and staff for their contribution towards this excellent result.

Chartered Accountants Ireland published the CAP1 September 2017 re-sit exam results this morning. Overall the results are good and follow the good results in May 2017. In reviewing the results Ian Browne (Head of Assessment & Syllabus) noted: 63% of students achieved a pass in all papers sat with a further 18% achieving a credit (i.e. passing one or more of papers sat). This compares to 66% and 14% in 2016.  The number of students failing all subjects sat remained fell to 19% in 2017 from 20% in 2016; Paper pass rates: The pass rates on individual papers are broadly in line with the performances of September 2016. The individual results by paper ranged from 40% to 97% for first attempt candidates. The weighted average pass rate across all papers (1st attempts only) was up this year at 82% which was 77% in 2016. On an annualised basis the weighted average pass rate for all papers was up from 82% in 2016 to 83% this year. On an annualised pass rate per paper basis, only Financial Accounting and Tax NI, showed a drop year on year with a -3% and -1% fall in annualised pass rates respectively; The flexible route candidates have continued to perform well; Mr Browne congratulated all students on their achievement and he thanked all the training firms, lecturers, examiners and staff for their contribution towards this excellent result. More highlights available.

Congratulating all 58,500 Leaving Certificate students who received their grades today, Chartered Accountants Ireland has welcomed the increase in candidates choosing higher level Accounting in the Leaving Certificate, up more than 10% in one year and an uplift of 37% since 2013. The Institute, which represents 25,500 members across the globe, believes that the figures are good news for the economy where the skills of accountants are highly prized, and there are excellent employment prospects for all considering accounting as a career.  Excellent grades available Accounting has the highest honours rate of the three business subjects with 78% of students managing a C3 or higher in the subject over the past three years. A large proportion of these students were awarded As. Last year, 21% of higher-level students achieved an A2 or higher, and Accounting is widely regarded as one of the subjects where hard-working students can do very well. While there is no requirement for anyone entering the accounting profession to have studied the subject in schools, the Institute sees this year’s excellent grades and renewed interest in the subject as positive developments. Commenting on the Leaving Cert results, Director of Education and Training at Chartered Accountants Ireland, Ronan O’Loughlin praised the excellent grades achieved for Accounting in this year’s Leaving Cert. “Chartered Accountants Ireland would like to say ‘well done all’ to the 5,379 Higher Level and 1,525 Ordinary Level students who received their Accounting results today. “On behalf of the Institute, I was particularly pleased to see the high proportion of students who secure top honours in Higher Level Accounting. It points to the impressive calibre of student opting for Accounting, and bodes well for the future of the profession in Ireland. We congratulate the students themselves, their parents and families and particularly the accounting teachers right across the country, whose dedication and enthusiasm is greatly appreciated. The accountants of tomorrow’s economy “It’s important that we sow the seeds of interest in financial management and how accounts are prepared at an early age. The skills taught to Leaving Cert students are a fantastic basis for future accountancy qualifications, either with a degree at third level or straight from school. In that context, we at Chartered Accountants Ireland congratulate our partner body, Accounting Technicians Ireland on their announcement of its new national apprenticeship in accounting, and we look forward to welcoming into our membership those who complete the ATI programme. Biggest employer of graduates “Despite much commentary on the opportunities in other sectors of the economy, in fact the accountancy profession remains the biggest employer of new graduates each year. The career opportunities are very impressive, with four out of ten Chartered Accountants operating at a senior executive level in business. And the starting salary for a newly qualified Chartered Accountant in the Leinster region of €58,000, as well as the global recognition offered with an accountancy qualification also explains why more top students are choosing LC Accounting. As the all-island representative body, we see growth and expansion across accountancy, audit, tax and consultancy, and highly skilled candidates are in high demand. “Of course all subjects taught in schools are subject to change and improvement. We continue to work with the Dept of Education to ensure that the curriculum remains relevant and serves the needs of business. In the context of the programme of syllabus rationalisation, our profession also wants to ensure that Accounting remains at the ‘top table’ of Leaving Cert subjects and we avoid Accounting being downgraded to a minority interest.”  ENDS REF:  Bryan Rankin, Marketing Manager, Chartered Accountants Ireland, T: (01) 637 7268 / M: 087 2047905 NOTE TO EDITORS:  1. Chartered Accountants Ireland is Ireland's largest and longest established professional body of accountants founded in 1888. The Institute currently represents 25,500 members around the world. 2. Photo of Chartered Accountants Ireland’s Director of Education & Training, Ronan O’Loughlin is available here.

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