By Nancy Akullo
Head of Communications
Hon. Denis Hamson Obua, the government chief whip has underscored the significance of rules and regulations in the achievement of national development goals.
“Everything we do in life is guided by rules and regulations, and because accountants manage financial resources, they must uphold the professional ethics and values of their profession,” noted Hon. Obua.
He noted that Uganda has the resources which are required for socio-economic transformation, and that the government is committed to leading the country to middle income status, if corruption is fought, and budget discipline is maintained.
While likening accountants to Matthew, a disciple of Jesus, whom Jesus called from a tax collector’s career, Hon. Obua emphasised the critical role that accountants play in socio-economic development.
“Accountancy is listed among divine professions anchored in the Bible, and because your profession deals with a critical resource, you must be accountable, emulating Mathew the patron of accountants,” he said.
Hon. Obua noted that the National Resistance Movement (NRM) government shares in the ambition for socio-economic transformation. He highlighted the government’s four strategic sectors to spur the country towards socio-economic development, namely, commercial agriculture, industrialisation, services and Information and Communications Technology (ICT).
“Growth in these areas will arise from economic stability, establishment of manufacturing plants, continued implementation of the Parish Development Model to bring the 39% into the money economy, growth in regional trade, widening the taxbase, budget discipline, and limiting borrowing,” said Hon. Obua.
Hon. Hamson Obua was delivering the keynote address on the theme, National Priorities for Socio-economic Development, at the 11th CPA Economic Forum of the Institute of Certified Public Accountants of Uganda (ICPAU). The Forum is being held from 19 – 21 July 2023 at the Imperial Resort Beach Hotel, Entebbe.
Organised by ICPAU, the CPA Economic Forum was introduced in 2012 to provide a platform for dialogue on matters concerning the economy. From the deliberations policy recommendations are derived, which are forwarded to the Ministry of Finance, Planning and Economic Development, for consideration in the national budgeting processes. The policy recommendations from this Forum are intended for the 2024/25 national budgeting process which commences in September.
ICPAU president CPA Josephine Ossiya appreciated the government for the efforts towards increasing domestic revenue mobilisation, controlling public expenditure, rationalising tax exemptions, and reducing borrowing, as had been proposed during the previous economic fora.
