Professional accountants are calling for amendments to the Companies Act 2012 and the Accountants Act 2013 which specify the corporate accounting, auditing, and financial reporting requirements in Uganda.
Derrick Nkanja, the Chief Executive Officer for the Institute of Certified Public Accountants of Uganda (ICPAU) says the law should include mandatory inclusion of a certified professional accountant on each company’s board of directors.
He says this is key because inactive financial departments of companies and institutions do slow economic growth.
He made the remarks on the sidelines of the C-Suite Forum that brought together several Chief Executive Officers (CEOs) and Chief Finance Officers (CFO) drawn from across the country.
The forum aimed at discussing how best synergies between CEOs and CFOs can lead to organizational success and economic growth.
