The Institute of Certified Public Accountants of Uganda (ICPAU) held its 13th graduation ceremony on 10 March 2023 at Hotel Africana.
At the ceremony, qualifications were awarded to graduands of the Certified Public Accountants of Uganda [CPA(U)], the Certified Tax Advisor (CTA) and the Accounting Technicians Diploma (ATD) courses.
The graduands completed their studies between 2020 – 2022, a period covering 8 examinations diets. 998 graduands: 916 CPA(U), 27 CTA, and 55 ATD.
Cumulatively, since the inception of each course, 4,805 have completed CPA, 77 have completed CTA, and 1,825 students have completed ATD.
Candidates who have not yet completed their courses, but performed best in various subjects were also awarded. The graduation ceremony is significant because, from it, aspiring professional accountants are acknowledged as having completed the first step towards their journeys to becoming full Certified Public Accountants.
The growing Uganda economy is in dire need of Certified Public Accountants (CPAs) to help in stewarding the resources of the country. However, the register of CPAs currently stands at approximately 4,000 only.
Therefore, it is through the professional accountancy education framework that aspiring accountants attain eligibility for enrolment as CPAs. According to the Accountants Act, 2013, one is eligible for enrolment as a Certified Public Accountant (CPA) if one has acquired a professional accountancy qualification, and has attained at least three years of relevant accountancy experience.
CPAs are regulated by ICPAU, in the areas of professional competence and professional conduct and can therefore be trusted by employers and the public.
CPA Derick Nkajja, the Secretary/Chief Executive Officer of ICPAU noted that the attainment of ICPAU full membership confers several benefits upon an individual.
“Being a CPA enhances one’s credibility, as well as the public’s confidence in the individual,” said CPA Nkajja.
“Additionally, CPAs have international recognition and affiliation with the International Federation of Accountants, the Pan African Federation of Accountants, and the East African Community Institutes of Accountants,” he added.
ICPAU is responsible for determining the Uganda professional accountancy education framework, and setting and conducting examinations. This function is executed by 2 the Public Accountants Examinations Board (PAEB) on behalf of the Council.
Examinations are held three times a year and conducted in seven regional centres, Arua, Fort Portal, Gulu, Kampala, Mbale, Mbarara and Nkozi.
Learning is facilitated by various ICPAU-recognised tuition providers.
Like many organisations, the Institute’s examinations calendar was severely impacted by COVID-19. In 2020, only one examinations diet was held out of the three planned. Students also had to pursue alternative methods of learning, such as online classes, with the related connectivity challenges.
However, the Council mitigated this by introducing additional examination diets to facilitate students’ progression, and increasing the completion time by two years, and hence the 998 graduands that were recognised.
