The President of the Institute of Certified Public Accountants of Uganda (ICPAU), CPA Frederick Kibbedi has urged Certified Public Accountants (CPAs) in Uganda to increase their involvement in accounting standards setting.
“Our participation on the global scene is dismal in terms of response to exposure drafts. Our voice needs to be felt more,” CPA Kibbedi decried.
While speaking at the 2020 Practitioners’ Forum on 23 January, Prof. Winnie Tarinyeba, a member of the International Ethics Standards Board of Accountants (IESBA) noted that feedback from Africa is low, compared to that of other Professional Accountancy Organisations (PAOs) from the rest of the world. She acknowledged active participation from the South African Institute of Chartered Accountants (SAICA).
“When developing local standards, I think it will help if we have people who participate in international standards development and are able to build their capacity, for robust development and implementation of standards,” Prof. Tarinyeba said.
CPA Kibbedi emphasized the importance of staying up-to-date and complying with new changes in standards.
The Practitioners’ Forum is organised annually by ICPAU, to articulate issues of practitioners.