- Uganda. 2 May 2019. The Institute of Certified Public Accountants of Uganda (ICPAU) has published the list of licensed accounting firms and practising accountants (auditors). The firms and auditors are licensed as at 30 April 2019.
ICPAU is mandated by the Accountants Act, 2013 to register practising accountants and publish their register.
ICPAU Chief Executive Officer, CPA Derick Nkajja said financial statements must be audited for reliability in compliance with International Financial Reporting standards.
“ICPAU annually publishes a list of practising accountants in Uganda, as a regulatory function. Practising accountants are subjected to a rigorous licensing process before they can attain Certificates of Practice. This ensures that they have the requisite qualifications and knowledge required to perform audit functions,” CPA Nkajja said.
Accounting firms are issued with annual licenses while the practising accountants (auditors) are issued with annual Certificates of Practice. Certificates and licenses are issued after an inspection carried out by the Quality Assurance Department of ICPAU. Among the requirements, audit practitioners must have attained a minimum of 40 structured Continuing Professional Development (CPD) hours, annually.
CPA Susannie Teega Kyamanywa, the Manager for Quality Assurance and Regulation advises business managers and organizations to ask for the firm license and Certificates of Practice, before they hire an accounting/audit firm.
CPA Kyamanywa noted that hiring licensed auditors comes with benefits:
- Licensed auditors can be subjected to disciplinary action in case of breach of the Code of Ethics.
- They are reviewed periodically to ensure compliance with international standards.
- They have proven competence, as they keep up to date with developments in the market.
Click here to view the list
ICPAU is the national professional accountancy organization, established in 1992 by an Act of Parliament, now the Accountants Act, 2013. The functions of the Institute, as prescribed by the Act, are:
- To regulate and maintain the standard of accountancy in Uganda.
- To prescribe and regulate the conduct of accountants and practicing accountants in Uganda.
For More Information:CPA Derick Nkajja, email@example.com, 0752 234922