Accountants Urged to Play Transformational Roles in Communities at 12th CPA Economic Forum

Accountants Urged to Play Transformational Roles in Communities at 12th CPA Economic Forum

Kira Municipality MP, Ssemujju Nganda, addressed accountants at the 12th Certified Public Accountants Economic Forum, emphasizing the importance of their role beyond traditional bookkeeping.

The Institute of Certified Public Accountants of Uganda (ICPAU) has unveiled a strategic plan aimed at ensuring accountants contribute to community transformation. This plan encourages accountants to demonstrate their relevance in various community aspects, not just in maintaining financial records.

Josephine Okui Ossiya, the president of ICPAU, highlighted the establishment of regional networks as a key component of this strategy during the forum’s opening on Wednesday. These networks will facilitate the development of professional accountancy schools and encourage accountants to engage in community issues, such as affordable electricity, education, and anti-corruption efforts.

Ossiya emphasized the need for accountants to collaborate with other professionals to address policy matters impacting the economy and communities. This collaborative approach aims to drive transformation in key areas affecting productivity in the country.

Joseph Enyimu, the Commissioner of Economic Development Policy and Research at the Ministry of Finance, Planning, and Economic Development, noted that accountants play a crucial role in auditing government commitments to ensure they are met. He stressed the importance of credibility in business operations to attract private equity into the economy.

Enyimu also pointed out the disparity in productivity across different sectors, with agriculture being the least productive due to market accessibility issues. The government continues to prioritize the promotion of productive sectors such as agriculture, industry, and services through national development plans, recognizing their potential to generate household income and employment opportunities.

The economic forum focused on key policy debates, including vocational education to empower youth, public debt management, and its economic impact, and the effects of corruption and fraud on the economy. Participants at the three-day event include accountants, tax consultants, economists, policymakers, and investment experts, all working under the theme “Enhancing the Productivity Sectors for Sustainable Development.”

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