•    To encourage effective communication of financial and business information.
•    To showcase best practices in financial reporting.
•    To promote and institutionalise transparency, integrity, and accountability in the corporate reporting process.
•    To promote good financial reporting as a prerequisite for raising funds on the capital markets.
•    To encourage SMEs to embrace good financial reporting as a step to listing on the stock exchange.
•    To create public awareness of valid and objective measures of performance and promote a better understanding of the results achieved.
•    To create public awareness of the purposes of organizations, how they function and their achievements.
•    To cultivate and maintain relationships with participants.

First Level Review
This involves the evaluation of the Annual and Financial reports by the Technical Review Team. Each report is reviewed and awarded marks by at least two independent panelists. The panelists then prepare summary reports to justify the basis of the marks allocated to each evaluated report. At the end of this stage, the panelists meet to discuss their results and any major anomalies noted during the evaluation process. 
The highest scoring entries in each category are thus identified, approved and forwarded for the second Review.
Second Level Review 
This stage involves the re-evaluation of the reports that advanced to the second Level to ensure the absolute best are identified in each category. The re-evaluation is done by a panel of experts, who have expertise in the various award categories. 

Third Level Review 
This is the final review where the winners and runners up are identified and approved by the FiRe Awards Committee.

Creation of the Awards categories is dependent on the nature of participating organisations. The following are some of the awards categories but these are subject to modification through creation or more categories.

(1) Financial Reporting Awards in the following categories:
•    Banking Services;
•    Insurance Services;
•    Regulatory Bodies;
•    Non Governmental Organisations;
•    Public Sector;
•    Consumer and Industrial Products;
•    Micro-Finance Institutions and SACCOs;
•    Educational Services;
•    Small and Medium-Sized Entities; and
•    Forex Bureaux.

(2) Special Awards for:

•    Excellence in Corporate Governance Reporting;
•    Excellence in Sustainability Reporting;
•    Excellence in Presentation and Communication;
•    The Most Improved Report; and 
•    Listed Entities.

(3) Report of the Year Award: 
•    Gold;
•    Silver; and 
•    Bronze.

The Awards are open to all organisations that produce annual reports. Each annual report is judged against itself, based on its success in communicating its organisation’s story. In order to be accepted for evaluation for the 2015 Awards, the annual reports should cover any financial period ending within the year 2014.

(1)    Download and complete the Awards entry form 
(2)    Submit the form to ICPAU offices along with 3 copies of the annual report for the year of the Awards

The financial report of an organisation tells the story of the organisation throughout a given year. Information in the annual report must therefore be properly presented in accordance with the international financial reporting standards. The benefits of participation include:
(1)     Winning an Award:
•    Is good publicity for the organisation; it boosts the organisation’s corporate image.
•    Builds client confidence in the organisation.
•    Attracts investors.

(2)    The Awards present an opportunity for benchmarking an organisation’s report against that of other organisations.

(3)    A free evaluators’ report is given to all organisations that participate. The report contains valuable recommendations which organisations can use to improve their financial reporting.

The climax of the awards is the Awards presentation dinner which is organised as the highlight of the exercise and the Award recipients are honoured.

The opening date for entries into the Awards is 1 July 2015 and the closing date is 30
September 2015. The Awards Presentation Dinner will take place on Thursday, 19
November 2015.

For more details and confirmations about the Awards please contact Mr. Lutimba Charles +256 774 544 774 or Susannie Teega .K. +256 782 938 224 or email fireawards@icpau.co.ug.