The FiRe Awards are an annual ceremony through which excellence in
financial reporting is recognized and rewarded. Organisations in the private, public and non-profit sectors participate by submission of their annual reports for the year under review. The best performers are rewarded based on their level of compliance with International Financial Reporting Standards.
The FiRe Awards are open to all organisations that prepare annual reports. The overall aim of the Awards is to enhance the quality of financial and business reporting in Uganda by encouraging the implementation of International Financial Reporting Standards as well as other best practices in reporting. The Awards provide an opportunity to participating organisations to benchmark their reports against the set criteria of good annual reports.
The objectives of the FiRe Awards are to;
- Encourage effective communication of financial and business information.
- Showcase best practices in financial reporting.
- Promote and institutionalise transparency, integrity and accountability in the corporate reporting process.
- Promote good financial reporting as a prerequisite for raising funds on the capital markets.
- Encourage Small and Medium-sized Entities (SMEs) to embrace good financial reporting as a step towards becoming publically traded
- Create public awareness of valid and objective measures of performance and promote better understanding of the results achieved.
- Create public awareness of the purposes of organizations, how they function and their achievements.