Probably one the most awaited moments of every Certified Public Accountant (CPA) aspirants is seeing their names included on the list of passers. Having the three letters added after your name would be the sweetest gift that you could offer to your parents including yourself. But to have those three letters, you need to first have a Bachelor’s Degree in Accountancy and pass a very extensive examination.
CPA Licensure Examination’s (CPALE) passing rate for the past five years has been declining. Last year’s passing rate is a notable one with only 3,774 out of 24,811 (15.21%) examinees who made it. This entails that the examination is becoming harder.
The inclusion of Tax Reform for Acceleration and Inclusion (TRAIN) Law is one of the main factors why last year’s passing rate is very low. The transition from the old tax law to TRAIN law made the taxation subject much harder.
While the passing rate is continuously curving downward, others are still hoping that this year’s examinations will pull it and make it shift upward.
This year’s examination for the batch May 2020 CPALE was originally scheduled on May 10, 17, and 20, 2020 but due to the threat of coronavirus disease (COVID-19), the Professional Regulation Commission (PRC) announced last April 13, 2020 the postponement of the CPALE together with the other examinations scheduled for May and June 2020.