Kampala, Uganda | JULIUS BUSINGE | Accountants in Uganda under their body, the Institute of Certified Public Accountants of Uganda (ICPAU) have outlined achievements recorded over the years at the ongoing 22nd seminar at Imperial Resort Beach Hotel in Entebbe.
Speaking at the opening of the seminar on Sept. 06, the Institute’s President Protazio Begumisa (CPA) told participants that the institute has increased its membership from 79 in 1994 to 2, 600 members today. It has 1, 500 associates and over 7000 active students today compared to 63 students recorded in 1997. He said that the number of accounting firms licensed by the Institute has increased from 40 in 1996 to 213 today. The number of examination centres has increased from one in 1997 to seven today. The body currently has 2000 qualified accountants.
It has maintained its global performance strength through International Federation of Accountants (IFAC), Pan – African Federation of Accountants (PAFA) among other fora.
Begumisa said that the Institute has acquired property in prime areas including two plots on Bukoto Street, a Kampala suburb and five acres of land in Lubowa – off Entebbe Road.
At national level, he said that accountants are playing a key role in nation building through making policy recommendations for jumpstarting the economy; improved financial reporting standards and serving as top executives both in government and private sector.
“…our work is driving growth of business, translating into growth and development of our country,” Begumisa said.
John Muwanga (CPA), Uganda’s auditor general, who chaired the first morning session, said that there is need for continuous training of accountants and board members of corporate companies including banks so as to meet the ever changing trends in business and economy.
Derick Nkajja, the chief executive officer of ICPAU, said that the event brings together accountants to discuss and share thoughts pertaining the profession and personal development. He said that this year’s seminar attracted 1150 registered participants and was organised under the theme – ‘ICPAU @ 25’.
“Let’s participate and learn as we develop ourselves,” Nkaja said.
Participants were exposed to issues related to accountancy and nation building, accountancy journey in Uganda and learnt about experiences from other professions and more. The seminar ends on Sept.08 with a dinner and the 2017 financial reporting awards.