The Institute of Certified Public Accountants of Uganda (ICPAU) in partnership with Capital Markets Authority (CMA) and the Uganda Securities Exchange (USE) on Wednesday, November 10 held the 11th Financial Reporting (FiRe) Awards Ceremony at the Skyz Hotel, Naguru and online via zoom.
The FiRe Awards, which kicked off in November 2011 have attracted small, medium and large entities over the years. Some of these entities include – Stanbic Holding Limited, NSSF, dfcu Bank, UDB, Wazalendo, Ysave, ERA, among other entities.
During the 2021 award ceremony, Ndejje University emerged winner of the Education Institution Award beating several other institutions in the mentioned category.
Makerere University Retirement Benefits Scheme also scooped the Retirement Benefit Services Award during this year’s Financial Reporting Awards.
The big winners of the day include; Stanbic Uganda Holdings Limited (Bronze Award), Centenary Rural Development Bank (Silver Award), and National Social Security Fund (NSSF) as winner of the Gold Award.
The awards are aimed at promoting and enhancing the quality of financial and business reporting for business growth in Uganda, by encouraging the implementation of financial reporting standards as well as other best practices in financial reporting.
While speaking at the award ceremony, ICPAU President, CPA Constant Othieno Mayende congratulated winners of various categories before revealing that even other entrants who did not win are winners. According to Mayende, Winners of the FiRe Awards have often attested to: increased investor confidence, enhanced teamwork, brand visibility and improved overall organisational performance.
“Every entrant in the FiRe Awards competition is a winner because of the professional feedback review the organisations receive at no cost. Some organisations have participated continuously and the Institute applauds you for your commitment to implementing the international financial reporting standards. I am certain that your efforts will be rewarded in many respects.” Mayende revealed.
In his message to CPAs, Mayende urged them to uphold professional ethics, explaining that ethics is the cornerstone of the accountancy profession.
“My message to CPAs on this special day is to uphold professional ethics. Ethics is the cornerstone of accountancy profession and we speak about professional ethics over and over again, for emphasis. A nation is only as strong as the integrity of its people. And theft and the misuse of public resources are the reason that many nations lag behind. Therefore, we must guard ourselves against these vices by upholding the values of professionalism.” Mayende said.
Below is the full list of winners for this year’s Financial Reporting Awards;
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