Menachem Abramovitz scored a 79 in audit, one of two exams given last July to aspiring CPAs by The Institute of Certified Public Accountants in Israel, a member of the International Federation of Accountants. 

The 29 year old father of three received his grades for the audit and finance exams in October but was informed only last week that he had earned the highest grade in audit.

Abramovitz said that only 34 percent of the approximately one thousand people who sat for the audit exam in July earned a passing grade.

The ICPAI offers two different methods for earning a CPA.  Like Abramovitz, most people planning to become CPAs choose the academic program, which requires a bachelors degree, a supplemental year of study in accounting and taxation and passing grades on the ICPAI’s final exams in finance and auditing. 

Those who elect to go the non-academic route must complete a series of 15 ICPAI tests, which includes the finance and audit exams.  Candidates are also required to work for two years for a CPA before they can earn their licenses.

Earning a CPA in the United States is difficult, said Abramovitz, but the process is even more grueling in Israel.

“There are too many people applying to become accountants and they are trying to slow it down and have been making it very hard and the average number of people passing has gone down to just 30 or 40 percent,” Abramovitz told VIN News. 

“The American tests are also given every few weeks while here they are only given twice a year.”

The ICPAI will be distributing licenses to those who have successfully earned their CPAs at Binyanei Hauma in Jerusalem on February 4th and will be recognizing the top three scorers on each exam with medals. 

Abramovitz will be honored with a gold medal and will be given the opportunity to briefly address the audience.

A Gerrer chosid, Abramovitz consulted with his rabbi before leaving kollel and choosing a career path.  He is not planning to pursue accounting in the long term and is instead aspiring to become a chief financial officer for a public finance department.

Asked to share his reflections on his high score, Abramovitz turned the spotlight away from himself.

“I was Baruch Hashem blessed with great skills so it was easier for me to reach this position,” said Abramovitz, who also scored very well on the finance exam.  “There are plenty of students who did give up much more effort, time and energy who deserve to be noticed without reaching the highest marks.”

Abramovitz is a graduate of Yeshiva Yagdil Torah in Borough Park. 

His lengthy educational career includes an associate degree from Machzikei Hadath Rabbinical College, five years in kollel in Jerusalem’s Mir Yeshiva, a dual bachelors degree in business management and finance and accounting from Ono Academic College which offers separate men’s and women’s programs for Charedi students, and an extra year of CPA preparatory classes.

Abramovitz is currently employed as a senior tax accountant for BDO US Tax Compliance, is certified as an Enrolled Agent with the Internal Revenue Service and is in the process of earning an MBA in real estate financing and appraisal at Jerusalem’s Hebrew University.