Questions&Answers: Exemptions and Credit Retention Rules 2015

After the introduction of revised syllabus by KASNEB on June 4 2015 click to see details click here to see. There have been so many questions regarding the transition arrangements that are there for Professional courses. The Revised syllabus rules that were provided this on the transition part provided the following::-

Transition arrangements are usually made to ensure a smooth roll over from the old syllabuses to the New syllabuses.  

1. SPECIAL TRANSITION PROVISIONS:

 

The transition provisions from the current syllabus to the revised syllabuses are as follows.   

1.1 CPA, CPS, CICT, CSIA and CCP students. 

(a) All students for the above listed examination will CONVERT to the revised examination syllabuses commencing 1 July 2015 in the various parts and sections that they will have PROGRESSED to in the current syllabus.  

(b) Exemptions:

(i) Where a student had been granted an exemption in a particular paper, the exemption will be retained. This will include papers where the titles may have changed but the substantive content has remained the same, such as Management accounting (Previously cost accounting) in CPA section 2.

(ii) However, where a student had been granted exemptions in a paper which, under the revised syllabus has been moved to a section which have already completed as at the may 2015 sitting, the exemption fee paid for the paper concerned will be credited to students account at KASNEB.

(iii) Exemptions granted for whole sections or parts under the current syllabuses shall be retained under the revised syllabus

1 C) Credit retentions for students who will not have completed their respective sections after the May 2015 sitting will be retained provided that the paper(s) with credit retentions have remained in the SAME section(s) under the revised syllabus

In Regardi to the above rules there are questions that we cannot derive their answers from the above rules. In that regard we have arranged some of those question and the answers that we got from KASNEB are as follows:-

Question

What will happen if I fail one unit in a section?

Answer

You will repeat that unit if it have been retained in that same section. refer to rule 1(c) above

Question

What if the unit that I have been referred has been moved to a higher or lower section?

Answer:

In such a situation you will do the newly introduced subjects in that section but retained the credit(s) of any other subject that you had passed and it has remained in that section.

Question.

What will happen if I fail section 2 Auditing and pass the rest?

Answer: 
You will retain credit for Economics and then you will be required to sit for Public finance and taxation which is the new paper.

Note: Cost accounting was renamed to Management accounting

Question

What will happen if I fail Principles of management in section 5 and pass the rest?

Answer:

you will be required to sit for the new paper Strategy, Governance and ethics.

Note: Management accounting has been renamed to Advanced Management Accounting.

Question 

What if I fail Financial Management in section 3 and pass the rest? 

Answer:

You will retain credit for Financial reporting and you will be required to redo Financial management and Company law which is a new paper.

Question

What will happen if I fail Taxation in section 4 and pass the rest?

 Answer:

You will have credit for Quantitative Analysis and you will be required to sit for the new papers Management information system and auditing and assurance. Note that the content of these subjects has been updated and so you will be required to sit for them.

Question

What will happen to those who had completed section 3 of CPA, will they have to re-do Auditing and MIS which they had already passed or will they be Exempted?

Answer:

Yes. They will not be exempted.

You might all like to see the Revised syllabus:

Examination syllabuses are as follows:-
Click on the Title to open
Certified Public Accountants - CPA
Certified Secretaries -CS (Formerly CPS)
Certified Investment and Financial Analysts -CIFA (Formerly CSIA)
Certified Credit Profession -CCP
Certified Information communication Technologists -CICT

Diploma Examination
Accounting Technician Diploma (ATD)
Diploma in Information Communication Technology-DICT
Diploma in Credit Management -DCM