The President of the Institute of Certified Public Accountants of Uganda (ICPAU), CPA Frederick Kibbedi has emphasized that the accounting space is a regulated space, preserved for those who have been registered by the Registrar of accountants, according to the Accountants Act, 2013.
“We are beginning to see a celebration of people who do not espouse the values of the profession,” said CPA Kibbedi. “The accounting space is for those who are under proper regulation,” he added.
CPA Derick Nkajja, the ICPAU Chief Executive Officer added that accountancy works in a space where ethics is espoused, and integrity is paramount.
“Accountants must be able to understand the rules and regulations for the jurisdiction in which they operate,” he said.
CPA Nkajja implored employers to recruit registered accountants who espouse the values of the profession and are true to the code of conduct for professional accountants.
“It is professionalism that will turn Uganda around. We need to drive professionalism in all sectors. That way, as a nation, we will be able to save resources, drive businesses and we will be able to see the growth that we desire within our economies,” CPA Nkajja said.
The ICPAU President, and the CEO were addressing journalists on 7 November 2019, during a press conference to launch the 2019 Accountancy Services Week, at the Uganda Manufacturers Association (UMA) main exhibition hall in Lugogo.