ANNA KATE PHELAN ACCA March 2023 pass rates on the up

The March 2023 exam results show ACCA pass rates could finally be on their way up –they were on 10 out of the 11 Applied Skills and Strategic papers when compared with December 2022.

The New World Economic Forum has recently released a report on the future of jobs. It is expected that up to a quarter of jobs are to change in the next five years and we should be mindful of trends in order to keep up with the pace.

As you continue on your path to being qualified it’s useful to gain a sense of the makeup of the organisations and sectors you are likely to be contributing to in the coming years.

Increased technology adoption and digitisation are due to create a high level of labour market churn, with an overall net positive when it comes to job creation. However, risks to the labour market include supply shortages, inflation and a slower rate of economic growth.

Solid cognitive skills have emerged as increasingly valuable to employers, with the most critical skills for employees of 2023 reported as both creative and analytical thinking respectfully.

Technological literacy related to big data and AI in particular will become increasingly valuable in the next five years. Research has indicated that those with and without degrees can acquire critical skills in a similar timeframe, opening the door to introducing innovative approaches such as skills based hiring and industry accredited microcredentials.

The fastest growing jobs are listed as AI and machine learning specialists, sustainability specialists, business intelligence analysts and information security specialists, with the highest absolute growth expected in the education, agriculture and digital commerce sectors.

ACCA’s executive director of content, quality and innovation, Alan Hatfield, said: “We are extremely pleased with the March session results and congratulate all successful students. It is delightful to see an increase in pass rates across the majority of exams, especially the Strategic Professional Options exams, AFM, APM and ATX.”

The March pass rates for those options were: AAA 34%; AFM 45%;

APM 35%; and ATX 45%.

The only paper that saw a dip on the December pass rates was FM, which came down from 51% last time to 49% this time around.

In all, 87,305 students entered the March sitting, with 102,770 exams completed. A total of 3,278 students completed their final exam to become ACCA Affiliates.