By Caroline Nassuuna
Communications Officer
The Chief Executive Officer of the Uganda Securities Exchange (USE), Paul Bwiso has emphasised the vital role played by financial reporting in enhancing transparency and accountability.
While speaking at the Financial Reporting (FiRe) Awards held on 6 November 2024 at Kampala Serena Hotel, Bwiso noted that financial reporting reflects a commitment to accountability, transparency, and the advancement of financial reporting standards in Uganda.
He highlighted how this year’s theme, Promoting Excellence in Corporate Reporting: Disclosing ESG Performance and Progress, directly impacts the securities exchange.
“There is an increasing need for transparency in how companies function and contribute to a sustainable future. Participation in the FiRe Awards provides a balanced picture of ESG performance, highlighting how companies address issues of concern from their stakeholders and society,” remarked Bwiso
He advised participating institutions to use clear language and prepare their financial reports with quantifiable metrics and accurate data.
He appreciated the 2024 FiRe Awards participating organisations and expressed USE’s commitment to inspire growth through partnerships, promising continued support for the FiRe Awards.
The Financial Reporting Awards are awards of excellence introduced in 2011 to enhance the quality of financial and business reporting in Uganda by encouraging the implementation of financial reporting standards and best practices in corporate reporting.
The awards are organised by the Institute of Certified Public Accountants of Uganda (ICPAU) in partnership with the Capital Markets Authority, the Uganda Securities Exchange and the Vision Group.
There were 108 participating organisations, including public, not-for-profit, and private sector organisations. National Social Security Fund emerged as the gold winner of the integrated report of the year, with several other entities recognised for their outstanding performances in the various award categories during an evening filled with pomp and glamour.
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