Uganda needs more accountants - expert
UGANDA needs to train more professional accountants to ensure sustained use of international financial reporting standards, a leading financial expert has observed.
By Ibrahim Kasita
UGANDA needs to train more professional accountants to ensure sustained use of international financial reporting standards, a leading financial expert has observed.
“We need to invest in more training and increased exposure to international best practices for our people,†Arthur Oginga, the Stanbic Bank financial director, said.
Oginga was speaking to New Vision after his bank topped the banks category at the recent Financial Reporting Awards in Narobi, Kenya.
The awards aim at promoting excellence in financial reporting and sound corporate governance, plus enhancing corporate social investment.
Uganda adopted the international financial reporting standards 12 years ago, which has contributed to the shortage of professional accountants.
Oginga commended the Institute of Certified Public of Uganda for facilitating the setting up of a local accounting examination body.
“This gives choice to those seek careers in accountancy. It also has reduced the cost of training.â€
for a professional accountant’s qualification,†he said. The expert said good corporate governance required provision of relevant and timely information to stakeholders.
“I fully support the disclosure of information that enables a user of the information assess the risk profile of a business and therefore be able to make an informed decision,†he said.
However, Oginga commented the Institute of Certified Public of Uganda (ICPAU) for facilitating the commencement of a local accounting examination body.
“Not only does this provide choice for those who seek to develop a career as an accountant but it has also drastically reduce the cost of training for a professional accountant’s qualification,†he said.
“I would encourage young Ugandans to seriously consider a career in finance. It remains a promising and rewarding career while the demand for good well rounded professionals still exceeds the supply.â€
UGANDA needs to train more professional accountants to ensure sustained use of international financial reporting standards, a leading financial expert has observed.
“We need to invest in more training and increased exposure to international best practices for our people,†Arthur Oginga, the Stanbic Bank financial director, said.
Oginga was speaking to New Vision after his bank topped the banks category at the recent Financial Reporting Awards in Narobi, Kenya.
The awards aim at promoting excellence in financial reporting and sound corporate governance, plus enhancing corporate social investment.
Uganda adopted the international financial reporting standards 12 years ago, which has contributed to the shortage of professional accountants.
Oginga commended the Institute of Certified Public of Uganda for facilitating the setting up of a local accounting examination body.
“This gives choice to those seek careers in accountancy. It also has reduced the cost of training.â€
for a professional accountant’s qualification,†he said. The expert said good corporate governance required provision of relevant and timely information to stakeholders.
“I fully support the disclosure of information that enables a user of the information assess the risk profile of a business and therefore be able to make an informed decision,†he said.
However, Oginga commented the Institute of Certified Public of Uganda (ICPAU) for facilitating the commencement of a local accounting examination body.
“Not only does this provide choice for those who seek to develop a career as an accountant but it has also drastically reduce the cost of training for a professional accountant’s qualification,†he said.
“I would encourage young Ugandans to seriously consider a career in finance. It remains a promising and rewarding career while the demand for good well rounded professionals still exceeds the supply.â€