In all some 4,112 ICAEW students sat exams in March 2024. Most students (2,425) opted to sit just one paper, and the pass rate for these PQs was 71.9%. That means 682 students (28%) will be sitting that paper again.
The pass rate for students sitting two paper s and passing two was higher, but only marginally, at 72.2%. Another 16.9% of sitters passed at least one out of the two
The 80% pass rate for those sitting FAR UK GAAP should also not be taken out of context – just five students sat this paper in March, meaning four passed and one failed!
For the first time the results also showed the pass rates for Europe vs Rest of the World. This is a move that has to be praised, and PQ magazine would like to see other bodies follow suite.
ICAEW March 2023 Professional Level paper pass rates: Audit & Assurance 76.4%; Business Planning Taxation 70.6%; Business Strategy & Technology 86.7%; Financial Accounting and Reporting (IFRS) 73.4%; Financial Accounting & Reporting (UK GAAP) 80%; Financial Management 80.2%; Tax Compliance 77.4%
