'Corona Phobia' Causes Sighs Among Accounting Exam Candidates

Ahead of the June CPA 2nd Exam
Academies Close and Study Groups Cancelled
Financial Supervisory Service's Decision to Proceed with 1st Exam Schedule Sparks Controversy

[Asia Economy Reporter Park Jihwan] The spread of the novel coronavirus infection (COVID-19) is affecting even CPA exam candidates.

According to the CPA exam industry on the 28th, the top-ranked academy, Namu Management Academy, announced that all academy facilities including self-study rooms, lockers, reading rooms, and bookstores will be unavailable until the 1st of next month. The second-ranked Winners Management Academy also decided to close the academy and its auxiliary facilities until the 3rd of next month. These academies are reportedly considering postponing the originally scheduled offline lectures by 1 to 2 weeks or conducting them entirely online.

CPA exam candidates are struggling to adapt to their study routines. Mr. A, who is attempting the CPA exam for the third time this year, said, "CPA candidates mostly use the academy's self-study rooms or auxiliary reading rooms because other exam candidates are sensitive to the sound of calculators. However, since the academy facilities have all closed recently, I have been staying at home and studying for several days."

Another candidate, Mr. B, said, "The second exam scheduled for June is approaching, and we were holding study group meetings to sharpen our practical skills, but due to the spread of COVID-19, we have not been able to meet for two weeks." He added, "As an alternative, we share photos of the answer sheets we solved at home, but the actual effectiveness is much lower."

The problem lies ahead. The preparation period until the CPA second exam in June is tight, and the candidates' schedules are inevitably disrupted. There is also growing anxiety that this situation may lead to an indefinite closure of the academies.

Some candidates also expressed dissatisfaction with the financial authorities for proceeding with the CPA first exam schedule on the 23rd. One examinee pointed out, "The CPA exam lasts about nine hours in one location, and candidates even eat meals there. After the first session that day, many candidates were seen taking off their masks during the exam, which makes me anxious about the possibility of future confirmed cases."

The attendance rate in Daegu, where COVID-19 cases surged, was significantly lower at 77.7% compared to other regions such as Seoul (83.7%), Busan (81.4%), Gwangju (84.6%), and Daejeon (83.0%). This is 11.9 percentage points lower than last year's rate of 89.6%.