By Caroline Nassuuna
The Executive Director of the Uganda National Roads Authority (UNRA), Allen Kagina has called on accountants to make sustainability a foundational aspect of their work.
Kagina emphasised the need for accountants and business leaders to ensure that the needs of future generations are not compromised while executing major projects. She highlighted the critical role that accountants play in steering sustainable practices within organisations, noting that sustainability should be a priority in boardroom discussions.
"We must effectively promote the healthy coexistence of business and society by ensuring maximum care for the communities in which institutions operate, championing environmental stewardship, and upholding good governance to ensure business continuity through research and innovation," she remarked.
Kagina was delivering an address on Driving Sustainability and Trust at the 29th Annual Seminar of the Institute of Certified Public Accountants of Uganda (ICPAU). She was the Chief Guest.
She further stressed the importance of integrating sustainability into business operations and urged auditors to monitor organisations’ compliance with the Sustainability Disclosure Standards. On 4 September 2024, ICPAU made a pronouncement on the adoption of the IFRS Sustainability Disclosure Standards. This follows the issuance of a comprehensive global baseline of disclosure standards to facilitate consistent and comparable disclosures on risks and opportunities related to sustainability and climate, referred to as IFRS S1 and IFRS S2, respectively. The standards were issued by the International Sustainability Standards Board (ISSB) which is established by the IFRS Foundation (IFRS).
Kagina expressed concerns about development projects, particularly in infrastructure, which often neglect their environmental impact, leaving such considerations to external parties.
Earlier, the ICPAU President, CPA Josephine Okui Ossiya, emphasised the pivotal role accountants play in driving economic growth and sustainability.
"Accountants can be influential in building capital market efficiency and transparency through high-quality information and reporting, providing sustainable financing, fostering regional integration, enabling business and entrepreneurial growth, and transforming public sector decision-making," noted CPA Ossiya.
Ossiya encouraged accountants to use the seminar as an opportunity to broaden their knowledge beyond the technical aspects of their profession, exploring topics such as personal finance, business, the digital landscape, relationships, health, and parenting.
The Annual Seminar serves as the largest platform for Continuing Professional Development (CPD) for accountants in Uganda, enhancing their skills across diverse fields.
This year’s conference has attracted over 1,700 participants, including accountants, business leaders, executives, academics, entrepreneurs, and other professionals, attending both online and in-person, making it a significant gathering for advancing the profession in Uganda.
Organised under the theme, Driving Sustainability and Trust, the 29th Annual Seminar runs from 4 – 6 September 2024 at the Imperial Resort Beach Hotel, and online. In addition to CPD, the other activities at the Annual Seminar include the pronouncement on adoption of IFRS Sustainability Disclosure Standards, launch of the ICPAU Benevolent Fund, a farewell ceremony for John Bosco Ntangaare, the former ICPAU Director of Education, and the 2024 Accountancy Service Awards.
Partnering organisations include; Uganda Electricity Distribution Company Limited, Bank of Uganda, Deposit Protection Fund, MTN Uganda, Kampala Capital City Authority, National Social Security Fund, Airtel Uganda, KPMG, Uganda Development Bank, aBi Finance Limited and National Agricultural Advisory Services, Endeavour Africa, Ernst & Young, Ediomu & Co., Kalinda & Associates, Centenary Rural Development Bank, Standard Chartered Bank, Forvis Mazars, Insurance Regulatory Authority, Crowe AIA, Grant Thornton, Baker Tilly Hem LLP, PostBank Uganda, Electricity Regulatory Authority, Kakira Sugar Ltd, Uganda Civil Aviation Authority, Mengo Hospital and Uganda Electricity Transmission Company Ltd, Uganda Law Reform Commission, Summit Consulting, and Sebuuma & Associates. We are grateful for your collaboration.
