16-year-old passes exam to be a CPA

A 16-year-old passed the exam for certified public accountants this year, becoming the youngest person ever to qualify, the examiners’ board said Monday. There is no age limit for taking the exam. Up to this point, the youngest successful applicant had been an 18-year-old. The Certified Public Accountants and Auditing Oversight Board did not disclose anything else about the applicant, but said that the average age for those who passed this year was 26.3, with the oldest being 61. Of the 25,648 applicants, 2,041 people passed, down 8.4 percent from the previous year. The pass rate fell 2.5 points to 8.0 percent. The number of women who passed the test totaled 362, accounting for 17.7 percent of all successful applicants, the board said. The Financial Services Agency said it plans to limit the number of successful applicants to around 2,000 each year because accounting firms and other companies are recruiting fewer CPAs amid the lingering economic stagnation. – Japantimes