By Caroline Nassuuna
ICPAU
Accountancy practitioners have been urged to move beyond traditional compliance and position themselves for emerging opportunities in sustainability assurance as Uganda prepares for mandatory sustainability reporting.
The call was made during the Practitioners’ Forum, organised by the Institute of Certified Public Accountants of Uganda (ICPAU) on Thursday, 10 September 2026, at the Imperial Royale Hotel in Kampala.
Speaking at the forum, CPA Stephen Ineget – Partner, KPMG, noted that the introduction of the International Standard on Sustainability Assurance (ISSA) 5000 was set to create a new market for professional accountants, rather than simply adding another compliance requirement.
“ISSA 5000 is not just a new standard. It marks the beginning of a new assurance market,” said Ineget.
He explained that investors, lenders and regulators are increasingly demanding sustainability information with the same level of credibility and rigour expected of financial information.
The growing use of sustainability reporting frameworks, including IFRS Sustainability Disclosure Standards S1 and S2, has also heightened the need for independent assurance, particularly amid concerns over greenwashing and inconsistent or unverifiable environmental, social and governance claims.
ISSA 5000, developed by the International Auditing and Assurance Standards Board (IAASB), is the first comprehensive, stand-alone standard specifically designed for sustainability assurance engagements. It was approved in September 2024 and formally published in November 2024.
“Unlike standards that focus on a particular sustainability issue, ISSA 5000 is framework and topic-neutral, meaning it can be applied across different reporting frameworks and sustainability matters, including environmental, social and governance issues,” noted Ineget.
The standard provides for both limited and reasonable assurance engagements and can be applied by professional accountants as well as suitably qualified non-accountant practitioners.
Ineget further added that Ugandan accounting firms should begin preparing for the emerging market by training their teams, developing sustainability assurance methodologies, building expert networks, and piloting engagements.
“Sustainability assurance would require skills beyond conventional financial auditing, including climate and environmental reporting, human rights and social metrics, ESG data governance, data analytics, and sustainability reporting frameworks. Firms do not need to build every capability internally on day one,” added Ineget.
He urged practitioners to form strategic partnerships with environmental consultants, engineers, universities, climate scientists, data analysts and other specialists, noting that firms that invest early in sustainability assurance capabilities could gain a competitive advantage through new revenue streams, deeper client relationships and access to emerging sectors such as development finance institutions, international NGOs, export-oriented businesses and regulated entities.
The Practitioners’ Forum also provided an update on reforms to Uganda's business registration processes, with the Uganda Registration Services Bureau (URSB) outlining key changes under the second phase of its Online Business Registration System (OBRS) reforms.
Tugumisirize Marion - Senior Registration Officer, URSB, took practitioners through OBRS Phase 2, highlighting changes intended to simplify and automate access to business registration services. Among the key changes is the transition from OBRS to the URSB eRegistry, with the Company Form 1 now serving as the Single Registration Form.
“Company forms have been renumbered and updated, while several processes that were previously handled manually have been automated,” explained Tugumisirize.
Practitioners will also have an additional channel for accessing registration services through URSB Connect. A new online Help Desk and complaints management system has been introduced to improve customer support and address challenges encountered by users. The reforms are expected to make registration processes more efficient and reduce reliance on physical and manual procedures.
CPA Derick Nkajja – Secretary/CEO, ICPAU, urged practitioners to remain true to themselves and the accountancy profession, collaborating with the Institute and the government to promote efficiency and accountability.
While giving his closing remarks, CPA Alfred Kabuchu – Vice President, ICPAU reminded practitioners about their role in the economy, advising them to continuously keep abreast of the evolving economic atmosphere as well as the changing clients’ needs.
The Practitioners Forum is an annual event where practitioners and staff of audit firms meet to discuss a broad range of issues significant to the accountancy practice.
