By Joan Abaasa
Communications Intern, ICPAU
The 2023 Financial Reporting (FiRe) Awards, a celebration of excellence in financial reporting, kicked off with a powerful message from Keith Kalyegira, the Chief Executive Officer of the Capital Markets Authority (CMA). Mr. Kalyegira highlighted the importance of Environmental, Social, and Corporate Governance (ESG) factors in reporting and transparency.
“The FiRe Awards plays a pivotal role in acknowledging excellence in financial reporting, a critical component of transparency and accountability within the capital markets,” said Mr. Kalyegira.
The 2023 FiRe Awards theme, ESG: Reporting as Brand Storytelling, was described as profoundly important by Mr. Kalyegira.
“Companies reporting on ESG not only align themselves with sustainable and ethical principles but also actively shape their brand narrative,” he remarked during his presentation.
In today's interconnected world, investors, stakeholders, and the public are increasingly interested in how organisations contribute to a sustainable future, how they treat their employees, and how they uphold ethical governance. Reporting on ESG, goes beyond data disclosure; it is a commitment to making a positive impact on society and the environment.
The CMA CEO acknowledged the professionals behind the financial reports, referring to them as the storytellers who ensure that the numbers convey a meaningful and transparent story about their organisations. He emphasised their role in enhancing trust and shaping public perception.
Mr Kalyegira also praised accountants for their vital role in safeguarding the integrity of financial and investment decisions, emphasising that they are essential allies in promoting proper financial reporting practices. According to Mr. Kalyegira, this empowers businesses, particularly those seeking capital from the capital markets, facilitating their growth and success.
Mr. Kalyegira congratulated the nominees and winners of the 2023 FiRe Awards. He commended their dedication to transparent and responsible reporting. He also appreciated the Institute of Certified Public Accountants of Uganda for their partnership in organising the event.
The 2023 FiRe Awards ceremony was held at the Kampala Serena Hotel on 1 November 2023.
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