By Joan Abaasa
Communications Intern, ICPAU
The president of the Institute of Certified Public Accountants of Uganda, CPA Josephine Ossiya has expressed delight in recognising those who excel in accountancy and financial reporting, acknowledging that the stakes in this field are high.
“The Institute is extremely proud of achievers in the financial reporting awards and we are confident that you will reap tremendously from your outstanding performance,” CPA Ossiya said.
CPA Ossiya emphasised the importance of Environmental, Social, and Governance (ESG) considerations in the sustainability of organisations. She outlined the idea that attention to the environment, care for both internal and external stakeholders, adherence to laws, and the practice of good corporate governance are pivotal in ensuring an organisation's long-term existence.
Highlighting the pressing global issue of climate change, Ossiya noted the recent heatwaves and unprecedented natural disasters worldwide. She quoted the Secretary-General of the United Nations who recently declared the end of the era of global warming and the arrival of the era of "global boiling." This observation underscored the imperative to address environmental concerns.
The FiRe Awards for 2023 recognised organisations that effectively integrated their environmental, social, and governance achievements into their reporting. These entities were honoured for their commitment to sustainability and their contributions to the well-being of the planet.
The ICPAU president concluded her remarks with a call to action for CEOs, regulators, and all stakeholders to promote good financial reporting and embrace the expertise of accountancy professionals in Uganda. She encouraged the adoption of accountancy services to enhance business transactions, spur economic growth, and ensure professionalism at all levels.
CPA Ossiya further encouraged organisations to participate in the FiRe Awards, explaining that benchmarking their reports against required reporting standards would lead to consistent improvement.
The president appreciated the FiRe Awards partners who have steadfastly supported the FiRe Awards for thirteen years, that is, the Capital Markets Authority, the Uganda Securities Exchange, and New Vision.
The 2023 FiRe Awards ceremony was held on 1 November 2023 at the Kampala Serena Hotel. 100 organisations submitted their annual reports for evaluation.
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