Congratulations to All New CPAs from the October 2009 CPA Board Exams!
Yesterday the result of the CPA Board Exams is released to the public. When I looked at the list, I can’t help but remember how exciting (I am trembling) to flip the pages of the newspaper to find my name there. It was one of the most joyful moments in my life especially when talking to my parents about it on the phone. I recalled shouting in the middle of the street “CPA na ko! CPA na ko! Yahoo!” like crazy and people and bystanders are laughing at me.
I remember how that single line of my name on the list has wiped away the pains (and suffering) I endured during the review. It was one hell of disciplining myself from doing things I normally do before the review. I can say I was abnormal in my review time… So much of me anyway…
I am glad to know that the Board of Accountancy has seemingly making it easy now for the CPA aspirants to pass the exams as the passing rate based on what I saw is 42%, the highest passing percentage I have seen so far (correct me if I am wrong) in my career as a CPA. If I remember it correctly during my time when I personally passed the CPA board, it was like between 12 and 13% somewhere around that range. And that is the norm those years (yeah I am older than you probably) and the highest I know that time was 16%. People are happy back then to see 16% passing percentage.
Don’t get me wrong. I am not saying that we are better back then than those who have passed the CPA board exams now. I believe that the CPA Examinees now has more leverage on the computerized Board exams plus the wealth and breadth of information within their reach. It’s very easy now to practice on the internet and research for matters you don’t know unlike before where I can only rely on a few books (sometimes outdated). With the advent of new technologies for review like ebooks, online review and lately I was amazed at PinoyCPA.com to see people clamoring for an Audio book for review, I think the new breed of CPAs are well poised to pass the CPA board exams.
It’s a good thing because as I always say and forecast, the Philippines can be a major CPA outsourcing country in the near future probably in the next 5 years. In the midst of knowledge workers outsourcing boom, the Philippines is at the forefront of providing quality CPAs at a very affordable price to the world. So we need more professionals to fill these requirements.
With that in mind, I would like to welcome all new CPAs from this October 2009 batch. We are hoping you will continue to uphold the profession with the highest of standards required by the governing bodies. May you continue to flourish and be more productive for the Filipino people’s benefit.
Congratulations to you all! Mabuhay kayo!
Manny
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