| Certified Public Accountants CPA Proffessional Course

Certified Public Accountants (CPA) Proffessional Course - KASNEB

The CPA certification is intended for those students who wish to qualify and work as professional accountants, auditors, finance managers, tax specialists and financial consultants; experienced accountants and students who have completed CPA examinations would be wise to consider becoming certified public accountants.

KASNEB

KASNEB

  •  Proffessional Course  3 years

    Certified Public Accountants (CPA) are skilled and competent professional accountants, auditors, finance managers, tax consultants and practitioners both in public and private sectors. The CPA certification also enables students to further their education in business training courses, for instance, the Bachelor of Commerce degree

    The CPA Examination is held twice yearly in May/June and November/December. The examination is divided into three parts of two sections each. Each section consists of three papers. A candidate may attempt two sections in a part together or separately in ascending order but before proceeding to the next part, a candidate must pass the lower part.

    The examination is rigorous and standards are high and therefore a candidate is advised to devote approximately the equivalent of twelve months of full time study for each part of the examination. Ideally, a student should be able to complete the CPA examination in a period not exceeding three years.

    A student is advised to programme the studies in such a way that makes it possible to take and pass the whole examination (parts I, II and III) in a duration of between four and a half years and six years following the date of registration with KASNEB  Examining Board.

    A student must carefully assess the interest in the profession and ability to study under strenuous condition, with a view to taking and passing the examination in a reasonable time. Competence and flair in mathematical computations, analytical and communication skills are essential requirements in preparing for the examination.

    The CPA examination is benchmarked on the international standards promulgated by International Accounting Education Standards Board (IAESB), International Accounting Standards Board (IASB), International Auditing and Assurance Standards Board (IAASB) and International Public Sector Accounting Standards Board (IPSASB). 
    The CPA examination therefore meets the requirements of International Education Standards (IESs), International Financial Reporting Standards (IFRSs), International Standards on Auditing (ISAs) and International Public Sector Accounting Standards (IPSASs).
    The IESs prescribe requirements relating to entry, professional training and practice as required by International Federation of Accountants (IFAC) for the qualification programme for professional accountants.

    The Trainee Accountants Practical Experience Framework (TAPEF)
    The TAPEF is a joint kasneb-ICPAK initiative for compliance with the requirements of IES 5 on practical experience requirements for trainee (student) accountants.
    Students taking the CPA examination are required to acquiring practical experience so that they can match progress in examination with competence in performance of duties in the work environment. IES 5 requires practical experience to be part of the pre-qualification programme. The minimum period of experience required is three years. The practical experience may be gained during or after the qualification process.
    All CPA students are therefore required to register for TAPEF through the ICPAK website
    Upon completing the CPA examination and obtaining the requisite practical experience, the graduates are eligible to register with the Institute of Certified Public Accountants of Kenya (ICPAK) as full members in order to be recognised as professional accountants and use the CPA designation. 
    CPA graduates without the requisite experience are eligible to be registered with ICPAK as associate members pending their acquisition of experience and registration as full members.
    Further details on the TAPEF are available on the kasneb and ICPAK websites.

    Certified Public Accountants CPA Proffessional Course - objectives

    The CPA certification is intended for those students who wish to qualify and work as professional accountants, auditors, finance managers, tax specialists and financial consultants; experienced accountants and students who have completed CPA examinations would be wise to consider becoming certified public accountants.

    Highly respected in the business world and often in financially rewarding positions, certified public accountants have more opportunities to use their accounting skills as consultants serving the general public or business owners.

    The aims of CPA Examination include to:

    • Produce a professional accountant with up-to-date and advanced knowledge in the areas of accounting, taxation, auditing and assurance and financial management as applicable in both the public and private sectors.
    • Impart professional values and ethics, communication skills, creativity, innovation and ability to generate new ideas.
    • Provide a basis for the application of advanced knowledge in accounting and cognate subjects to different situations.

    The aims of CPA Part I examination include to:

    • Produce an accountant who understands the principles relating to financial and management accounting, commercial law, economics, public finance and taxation.
    • Provide a basis for the accountant to apply the acquired knowledge to undertake the following, among other responsibilities:
      • Prepare and analyse basic financial statements
      • Analyse costs and variances
      • Compute tax for non-complex entities
      • Apply general principles of commercial law
      • Manage non-complex public financial management issues
    • Provide a basis for the accountant to advance to the next level of the CPA examination.

    The aims of CPA Part II examination include to:

    • Produce an accountant who understands financial reporting, financial management, auditing and related disciplines.
    • Provide a basis for the accountant to apply the acquired knowledge to undertake the following, among other responsibilities:
      • Prepare group accounts
      • Evaluate various investment decision scenarios
      • Comply with legal principles governing companies
      • Execute an audit assignment
      • Apply operation research techniques in decision making
    • Provide a basis for the accountant to advance to the next level of the CPA examination

    The aims of CPA Part III examination include to:

    • Produce a high calibre professional accountant with an in-depth understanding of advanced financial reporting, advanced financial management, advanced taxation, advanced auditing and assurance and related disciplines.
    • Provide a basis for the accountant to apply the acquired knowledge to undertake the following, among other responsibilities:
      • Account for complex accounting transactions
      • Undertake forensic audits
      • Compute tax for complex aspects of companies and specialised entities
      • Design an optimal capital structure for an organisation
      • Apply financial and non-financial indicators to measure organisational performance
      • Practice the tenets and principles of good governance
    • Ensure the professional is competent to be registered as a Certified Public Accountant of Kenya with high regard to professional values and ethics demanded of a professional accountant.

    Entry Requirements

    A person seeking to be registered as a CPA student must show evidence of being a holder of one of the following minimum qualifications:

    • Kenya Certificate of Secondary Education (KCSE) examination with an aggregate average of at least grade C+ (C plus) or its equivalent.
    • Kenya Advanced Certificate of Education (KACE) with at least TWO Principal passes provided that the applicant has credits in Mathematics and English at Kenya Certificate of Education (KCE) level or equivalent qualifications.
    • kasneb technician, diploma or professional examination certificate.
    • A degree from a recognised university.
    • International General Certificate of Secondary Education (IGCSE) examination grade C in 6 papers with C in both English and Mathematics.
    • Such other certificates or diplomas as may be approved by kasneb.

    Exemptions
    Exemptions may, on application, be granted to registered students who are holders of certain degrees and diplomas recognised by kasneb. Exemptions will be granted on a paper by paper basis.

    Progression Rule

    • A candidate must attempt and pass the CPA Part I examination before proceeding to the CPA Part II examination.
    • A candidate must attempt and pass the CPA Part II examination before proceeding to the CPA Part III examination.
    • A candidate will not be allowed to enter a higher section in a part before completing the lower section unless the candidate has been referred in the higher section or has entered the two sections simultaneously.

    Duration of Registration as a Student of kasneb
    A registered student of the CPA examination will be required to complete the examination within a period of nine years provided that the candidate shall complete:

    • The CPA Part I examination by the end of the third year since registration.
    • The CPA Part II examination by the end of the sixth year since registration.
    • The CPA Part III examination by the end of the ninth year since registration.

    kasneb reserves the right to cancel the registration of a student who fails to complete the examination within the stipulated time.

    A student whose registration is cancelled under the rules in this paragraph may not be eligible for re-registration.
    However, kasneb reserves the right to vary or amend the regulations.

    Certified Public Accountants CPA Proffessional Course - course content

    CPA Examination is held twice yearly in June and December. The examination is divided into three parts each comprising of two sections, making a total of six sections in all. A student may attempt two sections of a part together or separately in the ascending order but before proceeding to the next part, a candidate must pass the lower part.

    PART I

    Section 1

    Paper No:

    CA11  Financial Accounting

    CA12  Business Law

    CA13  Entrepreneurship and Communication

    Section 2     

    Paper No:

    CA21  Economics

    CA22  Management Accounting

    CA23  Public Finance and Taxation

     

    PART II

    Section 3

    Paper No:

    CA31  Company Law

    CA32 Financial Management

    CA33  Financial Reporting

    Section 4

    Paper No:

    CA41  Auditing and Assurance

    CA42  Management Information Systems

    CA43 Quantitative Analysis

    PART III

    Section 5

    Paper No:

    CA51  Strategy,  Governance and Ethics

    CA52  Advanced Management Accounting

    CA53  Advanced Financial Management

    Section 6

    Paper No:

    CA61  Advanced Public Finance and Taxation

    CA62  Advanced Auditing and Assurance

    CA63  Advanced Financial Reporting

    Certified Public Accountants are skilled and competent professional accountants, auditors, finance managers, tax consultants and practitioners both in public and private sectors.