Practitioners have unanimously agreed to establish a legal entity to handle common issues that they face. This was during the 2020 Practitioners’ Forum, held on 23 January, at the Imperial Royale Hotel.
The idea for a legal entity for practitioners was fronted by the steering Committee of the Uganda Practitioners’ Forum (UPF), which was formed in 2019. The UPF aims to bring the voice of practising accountants together and promote accountancy practices in liaison with the Institute of Certified Public Accountants of Uganda (ICPAU).
During the year, the Committee discussed numerous issues pertaining to accountancy practice in Uganda, including: the improvement of audit quality, building a robust audit market, among others.
CPA Timothy Ediomu a Partner at Ediomu & Associates was one of the practitioners who welcomed the idea of the formation of a legal entity for practitioners. He outlined the following objectives:
- Enhancing audit quality and competitiveness
- Creation of a forum for advocacy
- Galvanising practices so that practitioners can complement each other
- Creation of a platform for knowledge sharing
- Creation of a common library from where knowledge can be freely accessed
Members of the steering Committee are: CPA Dr. Hajji Twaha Kaawaase – Partner, SNG Sejjaaka, Kaawaase & Co, CPA Ronald Mutumba – Partner, Mutumba Mukobe and Associates, CPA Fred Bawunha – Partner, Bawunha and Badebye, CPA Francis Muleme – Practitioner, Mulex Partners, CPA Julius Tumuhimbise – Partner, Jim Roberts & Associates, CPA Rodgers Semakula – Practitioner, Roselu & Associates, and a representative from each of the big 4 Audit firms.
The Steering Committee will convene and agree the modalities of the legal entity, and report the progress to practitioners.