By Abraham Malinga
Accountants have a duty to uphold the integrity of their profession and actively combat fraud, urged CPA Derick Nkajja, Secretary and CEO of the Institute of Certified Public Accountants of Uganda (ICPAU). Speaking at the ACFE Year-End Networking event held at Speke Resort Munyonyo, Nkajja challenged fraud examiners and accountants to leverage technology and professional skepticism in the fight against corruption.
The high-profile event, attended by dignitaries including Uganda’s Inspector General of Government, Hon. Betty Kamya, saw CPA Nkajja deliver one of the keynote speeches. He emphasized the transformative role of Artificial Intelligence (AI) in fraud detection, urging accountants to automate their processes and embrace data-driven tools to minimize financial malpractices.
“We have conducted training sessions and capacity-building programs across institutions to empower professionals with the necessary skills,” Nkajja said. He announced ICPAU’s plans to host a Masterclass in May 2025, with a focus on data analytics and its application in detecting fraudulent activities within financial statements.
Nkajja also highlighted the growing concern of financial statement duplication and the impersonation of accountants. “This is a major issue we are tackling,” he noted, calling on the public to collaborate in projects aimed at rooting out fraud and ensuring accountability in financial reporting.
Professional skepticism, he said, is a critical skill every accountant must master. “Accountants should develop a mindset that questions irregularities and actively identifies potential fraud during audits. We cannot afford complacency,” he emphasized.
The ICPAU is also working to forge partnerships with the Association of Certified Fraud Examiners (ACFE) and other professional bodies to strengthen the collective effort against corruption. Nkajja underscored the importance of accountants registering with professional organizations to maintain ethical standards and enhance their credibility.
“We must unite our voices and efforts to defeat the vice of fraud. Accountants must be accountable not just to their organizations but also to the profession and the public,” Nkajja concluded.
The event served as a call to action for accountants and financial professionals to leverage technology, deepen their skills, and uphold ethical standards in safeguarding the economy against corruption
