Accountants tipped on communication, ethics

Nov 11, 2016

A report was launched looking at the main drivers that will drive change and shape the practice of accounting

Accountants have been urged to be better at communicating accounting information to investors so as to attract capital.

David Bahati, the State Finance Minister also urged accountants and auditors to champion the fight against corruption by being more ethical to enable Uganda attain middle income status by 2020.

"Corruption cannot happen without an accountant because we are the custodians of the books of accounts. It should our duty to restore confidence of the public in the profession," Bahati said at the Lake Serena, Kigo at the start of the two day ACCA Uganda member's convention under the theme ‘The Future Accountant; Navigating the Changing Landscape'.

The well attended conference has drawn top accountants and auditors from the public and private sectors and academicians from Africa. 

During the conference, a report was launched looking at the main drivers that will drive change and shape the practice of accounting over the next decade and beyond. 

The report identifies key technical, interpersonal and broader qualities that professional accountants will need to have in order to continue adding value to businesses, other organisations and economies in the years to come. 

These include; technical and ethical competencies, experience to made sound judgement, intelligence and digital awareness (DQ).

The report also pointed out that the spread of social media will also have an impact, improving collaboration, disclosure, presentation and stakeholder engagement.

Beatrice Isagayite, the head of ACCA Uganda pointed out that there is need for accounting officers in government to receive professional certification.

She explained that this will deter corruption since professional accountants are bound by a strict code of ethics.

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