CIMA results Sitters cope well

The billionpound claim

KPMG is being sued a whopping £1.1 billion by the liquidators of Carillion, the official receiver.

The High Court claim says the Big 4 firm’s audits missed “multiple red flags”, in the lead up to the collapse of the construction and facilities management giant.

The official receiver, acting on behalf of Carillion’s creditors, is also alleging Carillion’s profits were heavily overstated when it was in fact “balance sheet insolvent”.

The claim goes on to say that a “reasonably competent auditor” would have picked up on the manipulation by two directors at Carillion.

In its defence KPMG has said that the “claim is without merit”, and it will robustly defend the case. It went on to say that the responsibility for the collapse of the company lies solely at the feet of the company’s board and management.

Recent research from ACCA found that 73% of respondents globally thought the profession was inclusive. However, just 63% of respondents in the UK felt they were part of an inclusive profession, compared with 76% in Ireland and 86% in Nigeria.

The ACCA Inclusion Report stresses: “While we might believe that we represent a profession that is open to all, that belief may itself come from a perspective of privilege.”

It went on: “The profession cannot afford to be complacent: rather, it must continue to focus on the issue, to ensure that we continue to reach out to all communities, to represent social justice and equity through our values and ethics. We need to encourage people of all backgrounds and characteristics to join the diverse profession and to continue to educate ourselves as well as educating and supporting others.”

Inclusion, along with integrity and innovation is one of ACCA’s three core values.

The report reminds us that we must treat people as they wish to be treated rather than how you would wish to be treated. We also have to welcome ideas that are different from your own, and you must be prepared to speak up.

You can read the report at https://tinyurl.com/2p97s6bp

CIMA November 2021 case study results

CIMA has released the November case study pass rates, and they show sitters coped well with what the examiner threw at them.

Those sitting the Management case achieved the highest pass rate, at 73%. That’s the best pass rate for this level for the whole of 2021.

Some 67% of Strategic sitters passed the final case this time around, which is slightly down on the August rate of 69%.

The Operational pass rate seems stuck, with just over half of sitters passing this time around – 52%

Stephen Flatman, Vice President, Examinations – Management Accounting, told PQ magazine: “I’m very happy to see that our students’ performance in case study exams remains strong. The efforts they are putting into their CIMA studies are clearly paying off.”

CIMA CASE STUDY 2021 PASS RATES

Nov Aug May Feb Operational 52% 53% 46% 60% Management 73% 68% 69% 71% Strategic 67% 69% 68% 67%

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