ICAEW Professional Level exam results are in

The pass rates for December’s ICAEW Professional Level exams are out, and overall they look like they have ‘slipped a bit’ when compared to previous sittings.

At 59.1% the Financial Accounting and Reporting (IFRS) paper saw a big drop – in September the pass rate for this paper was 82.1%. The pass rate for the UK GAPP version of this paper wasn’t much better at 60.9%.

Elsewhere, the pass rate for Tax Compliance slipped below 70% to 68.4%.

An ICAEW spokesman told PQ magazine: “We appreciate the disappointment that some students may be feeling. We continue to work closely with our partners in learning and employers to put effective plans in place that will support you in reaching the required level to be successful going forward. The learning materials have been updated for the 2023 exams, which are provided free of charge for students who were unsuccessful in December.”

Two still seems to be the idea number of papers if you want to pass all the Professional Level papers you sit. Some 65.6% of sitters passed the two they sat this time around, with another 20.8% passing one of the two. In all 63.2% of those sitting three papers passed them all, with 62.4% who opted for one paper passing it. It all means some 1,601candidates failed all the papers they sat – 22.3% of sitters.

In total, 7,168 students sat exams last December, and 12,704 exams were attempted in total. Some 4,582 students passed all the exams they took.

There are pass rates for the ICAEW Professional Level December 2022 exams were:

  • Audit and Assurance: 74.3%
  • Business Planning: Banking: 62.9%
  • Business Planning: Insurance: 73.3%
  • Business Planning: Taxation: 81.9%
  • Business Strategy and Technology: 85.1%
  • Financial Accounting and Reporting (IFRS): 59.1%
  • Financial Accounting and Reporting (UK GAAP): 60.9%
  • Financial Management: 78.7%
  • Tax Compliance: 68.4%