The state of accounting in Uganda is set to improve following initiatives that are being pushed by the Institute of Certified Public Accountants of Uganda (ICPAU) – all targeting practitioners.
Kampala, Uganda | The Independent | Speaking at the 9th Practioners Forum held in Kampala at the end of last month, Frederick Kibbedi (CPA), the President of the ICPAU said several initiatives including staff training, outsourcing services in which one has no competence, specialisation, leveraging technology and promoting more public awareness of accounting services are being pushed as one way of boosting the trade.
In terms of improving audit quality, the institute is looking at initiatives such as having a training of trainers, conducting joint firm trainings, encouraging promotion based training, introducing practical sessions to the continuous professional development programmes and encouraging peer review schemes.
Officials said that improving the performance of the profession is critical because it supports growth of the economy. Uganda currently has a total of about 3,516 qualified accountants and slightly above 2000 are active.