Congratulations UFE grads!

A week ago thousands of accounting students across Canada held their breath as they got the call or opened the envelope with their UFE result.  Many of them received the good news – a pass.  The UFE is a the main hurdle for getting your professional accounting designation (CA) in Canada.  It was 10 years ago that I got my good news and I remember it very well.The CA School of Business (CASB) is responsible for  the post-graduate training of all CA students in Western Canada.  I’ve been involved with CASB for the past five years helping students prepare for their careers as accountants.  I really believe that CASB’s system of education has a lot of positives.  Sure students complain vigorously while they are in the program and there are areas for improvement, but all in all, its very well done.  This year, CASB’s first-time pass rate was over 88%, an astounding accomplishment!  A result like this is not possible without motivated students, great mentors, excellent facilitators, and strong leadership.  To everyone that was involved this year, well done!Now, from my little twisted brain, here is my thought –  having students pass the UFE is not really the goal for CASB.  Sure it is one measurement of a successful program, but I think CASB’s goals are longer term and broader.  Question.  How successful is CASB at developing ethical, knowledgeable, social aware, excellent accounting advisors?   If the answer is 88% then I think the business world should be disappointed with CASB.  If it’s not damn close to 100% then we’d all better continue to work harder and smarter to reach that goal.

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