Four gold medals in six years in national accounting examination for SAF gradsby Patty Mah, Associate Director Admissions and Communications
In the last six years, four recent graduates from the School of Accounting and Finance (SAF) at the University of Waterloo have won the national and Ontario gold medals for the Chartered Accountancy Uniform Final Examination (UFE).
Akash Kapoor of Waterloo's Master of Accounting program (MAcc) won the prestigious Governor General’s Gold Medal and the Ontario Gold Medal for having achieved the highest standing in Canada on the UFE. The UFE gold medal is one of the many achievements in Akash’s academic career. In 2012, Akash was named the Arts Co-op Student of the Year for developing a tool that created efficiencies, saving 6500+ administrative hours. The tool was integrated into the employer’s polices and is now used all over Canada.
The CPA designation is a passport to stepping into challenging roles and allows us to have the opportunity to perpetually learn,” comments Akash on why he chose a career in accounting. “I believe that the designation adds tangible credibility and opens doors to countless experiences.
Considered one of the most challenging professional examinations in the world, the UFE top mark comes with a cash prize of $5,000. George Nicholas Tsai (MAcc ’13), Juliana Yuen (MAcc ’11) and Vicky Au (MAcc ’10) have also reached the same high achievement in 2013, 2011, and 2010 respectively.
Overall 3,576 graduates from across the country passed the UFE, with another MAcc graduate, Julian Lo (MAcc ’14) who placed well on the prestigious 54-member National Honour Roll. SAF is planning a celebration for all of the honourees in January 2015.
Greg Berberich, Director of the MAcc and Diploma programs extended congratulations to all the SAF graduates who achieved success on the 2014 UFE. “Akash accumulated many honours during his time at Waterloo, but winning the UFE gold medal is his biggest accomplishment,” states Berberich. “The SAF is proud of his tremendous achievement and very pleased that he has joined George, Juliana, and Vicky as SAF graduates who have won the gold medal in the past five years.”
The three-day examination is a critical component of the CPAs qualification program. It assesses a person’s knowledge, ability to think analytically, and gauges their professional judgment and ethics. In addition to the UFE, the CPA qualification program requires a person to successfully complete prescribed practical work experience, before they are entitled to use the internationally recognized CPA designation.
In 2015 Ontario had 782 of the country’s 2,218 successful CFE writers, and 20 Ontario students placed on the prestigious 52-member National Honour Roll. Of the 20, over half of them were University of Waterloo, School of Accounting and Finance, alumni.