Over 11100 professional accountants and students have joined the Institute of Certified Public Accountants of Uganda (ICPAU), the national professional body for all accountants in Uganda with hopes to developing their careers and raising their accountancy profiles.
According to a statement from ICPAU, the institute has so far over 2,600 Full members; over 1,500 Associate members and over 7,000 active students going through the Institute’s examinations scheme at various levels of completion.
These members are employed in both government and the private sector.
This is a great achievement considering the small number of members that the institute started with when it was formed by the constitution of Uganda in 1992 through the Enactment of Accountants Act in 1992 and subsequent amendment to the accountants act in 2013.
“Growth of membership numbers from 79 members as at 31 December, 1994 to over 2,500 currently and growth of student numbers from 63 in 1997 to currently over 7,500 active students. Growth of accounting firms from 40 as at 31 December, 1996 to over 200,” part of the statement reads.
This is one of the great successes that the body has been able to achieve in its last 25 years.
The body has also been able to develop an examinations scheme for professional accountancy qualification and Conducting CPA exams since 1997, ATC/D exams from 2001 and CTA exams from 2016 as well as establishment regional examinations centers hence growing the examinations centers from 1 in 1997 to the current 7centres.
The statement continues, “Signing of Mutual Recognition Agreements with all the East African Community Institutes of Accountants (i.e. in Kenya, ICPAK; in Tanzania, NBAA; in Rwanda, ICPAR; and Burundi, OPC), in September 2011. CPAs from Uganda are eligible for membership of the professional accountancy organizations in Kenya, Rwanda, Tanzania and Burundi and thus easing the movement of people across the East African Community (EAC). We have also hosted the 4th Africa Congress of Accountants (ACOA) in 2017, in partnership with the Pan Africa Federation of Accountants (PAFA). All these are recommendable achievements.”
ICPAU also asks the public to only seek accounting services from persons that have registered with them so as not to be disappointed.
“We also implore the public to always seek accountancy services from only professional accountants in order to drive growth of business which later translates into growth and development of our country. The Accountants Act, 2013 defines an Accountant as a person who has enrolled with the Institute of Certified Public Accountants of Uganda. Therefore, anyone who has not enrolled with ICPAU is not an accountant as per the laws of Uganda.”
ICPAU is celebrating 25 years of existence since its formation in 1992.
The celebrations started on 7 August 2017 will be climaxed with Gala Dinner to be held at the Imperial Resort Beach Hotel, Entebbe from the 6th to 8th September 2017.