Graduates Challenged to Diversify their Sources of Income

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CPA David Kiwanuka addressing graduates at the 12th graduation ceremony.

Graduates at the 12th Graduation ceremony of the Institute of Certified Public Accountants of Uganda (ICPAU) have been challenged to diversify their talent and sources of income so as to be successful.

While addressing graduates of the Certified Public Accountants of Uganda (CPA-U) course, the Accounting Technicians Diploma (ATD) and the Certified Tax Advisor (CPA) course at the graduation ceremony on 6 March 2020, CPA David Kiwanuka, the keynote speaker advised the graduates to consider the various opportunities that the accountancy profession offers.

“Many opportunities await but only those who are ready will turn out successful,” CPA Kiwanuka noted. “There is a lot we can do as accountants but this is only possible if we exploit the untapped gaps, he added.  

CPA Kiwanuka emphasized the following practical opportunities presented by professional accountancy training:

  • Training and mentoring students.
  • Accountancy practice: assurance services, taxation, actuarial, legal, management consulting, among others.
  • Tax agent and representation services.
  • ICT systems integration, for example through designing accounting systems and packages.
  • Business proposal writing.
  • Developing company accounting manuals and standard operating procedures.
  • Facilitating financial literacy.
  • Leadership opportunities, for example, in politics.

CPA Kiwanuka also reminded the graduates that whereas knowledge is key, attitude is more important.

“It is your attitude not your aptitude that will determine your altitude,” he said.

“How far you go in life is 80 percent your line of thinking, your mind set, behaviour and your actions and only 15 percent is the technical training,” CPA Kiwanuka emphasized.

He challenged the graduates to pay attention to social capital, Keep up to date through participating in Continuing Professional Development programmes, improve conflict management skills, and identify their CPA value proposition. He cautioned them to beware of office and business politics and plan to manage it professionally. “Be brave but not naive,” he advised.

CPA Kiwanuka decried the lack of formality in the greater part of Uganda’s business sector. He noted that many informal businesses do not appreciate the value of professional accountants and he appealed to ICPAU to continuously seek strategic partnerships to address the issue.

The challenges notwithstanding, he advised the graduates to remain loyal to the profession by upholding the core values of: accountability, integrity, transparency and innovation. “We must say no to corruption because the accounting fraternity has the responsibility to serve in the public interest,” he noted.  He also appealed to the graduates to add value to society through using their skills to impact the lives of the less privileged.

CPA David Kiwanuka is an Internal Auditor at the National Drug Authority. He works with the Uganda Revenue Authority (URA) Staff SACCO, Harvest and Training, Nabbingo – Our Lady of Visitation, among other organisations. CPA Kiwanuka has assisted members of a community faith based group to establish a medical insurance product (Namaco Insurance loan product) for low income earners. In 2019, CPA Kiwanuka was recognised as the Young Accountant of the Year, at the Accountancy Services Awards which are organised by ICPAU.

The 12th graduation ceremony was held at the Imperial Royale Hotel. There were 426 graduates: 370 – CPA-U, 40 – ATD AND 16 – CTA. The graduates wrote their examinations in May, August and November 2019.

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