what happens to offer if i have to repeat an exam?

lightspeed

Hi all I have an offer with one of the big 4 audit firms. Im doing a postgrad in accounting which will give me exemptions from CAP 1 exams subject to achieving an average of 50% across most subjects.

I sat a financial accounting exam today and I have some doubts that I have done well enough to get 50% or over in this one which will mean that I will need to do even better in the second round of financial accounting exams in May 2015 if im correct.

In the even that I have to repeat, from what ive found, it seems that results for supplemental exam sittings, i.e repeats are not out until late September 2015.

As the offer I have is to start in September, will I likely lose the offer if I have to explain to them that I failed a subject and awaiting the results for the repeat?

Does anyone know if repeats are capped at a pass, i.e 40%

prettyrestless

It's possible you will lose the offer. Perhaps you could defer your contract for a year if you need to repeat (if your firm agree)?

Capping of repeat results vary amongst different universities/colleges.

thekingof60

I know some people that were in the same boat and none lost their contract. Some people ended up having to sit the CAP1/2s on a modular basis where you would do your FR cap 1 exam as well as 2 cap 2s in your first year and then the remainder in 2nd year. If you let them know as soon as you get your results they should help out. Most firms are short numbers anyway so wont want to lose another trainee.

lightspeed

cool thanks, I confirmed with the college who said that im correct that repeats are capped at a pass but said they give the uncapped result for exemption purposes. So bit muddled but looks like I would not be capped at 40% if I had to repeat an exam where its an exam required for an exemption.

I may have done enough to just scrap 50% or at least a pass meaning, I will just need to do better in the second set of financial exams to compensate to ensure I get an average of 50% from both.

Do you know when they would contact me for the results?

Worse case scenario, if I repeated in August any that needed to repeat for exemptions, I would have the results near the end of September 2015.

If I only start sometime in September 2015, I may get away with saying nothing and just presenting the results at the end of September.

Obviously, that would not be possible if they contact me asking for the results in June or July.

Any idea when they usually ask for a copy of the results and if or when they are likely contact me to confirm if I passed all exams?

I think results for the current set are out in about 2 weeks time. Can help stressing til then :eek:

Jim2007

lightspeed wrote: »

If I only start sometime in September 2015, I may get away with saying nothing and just presenting the results at the end of September.

As a general rule accounting firms prefer to employ people with integrity because very often they will have to rely on your word! If you get caught at something like that then I would not expect much sympathy. Certainly in my days at a big 4, it would have been enough to have you marched of the premises... but perhaps times have changed.

barneystinson

Jim2007 wrote: »

As a general rule accounting firms prefer to employ people with integrity because very often they will have to rely on your word! If you get caught at something like that then I would not expect much sympathy. Certainly in my days at a big 4, it would have been enough to have you marched of the premises... but perhaps times have changed.

Certainly wouldnt be tolerated in Switzerland I'd say...

Jim2007

barneystinson wrote: »

Certainly wouldnt be tolerated in Switzerland I'd say...

No idea, I resigned within weeks of qualifying and have never worked in accounting since! Hell, come to think of it I've not even worn a suit and tie since either

lightspeed

Jim2007 wrote: »

As a general rule accounting firms prefer to employ people with integrity because very often they will have to rely on your word! If you get caught at something like that then I would not expect much sympathy. Certainly in my days at a big 4, it would have been enough to have you marched of the premises... but perhaps times have changed.

Well i wasnt suggesting that I was going to lie about anything. I was just saying that if i had to repeat and started in mid September I probably would have the results from the repeat by then so would have the exemptions and results im expected to have.

Obviously, if they request a transcript of the results before then I will tell them that i had to repeat one exam.

I wont actually get the results until mid to late February so even longer nail biting until then.