In a move aimed at enhancing accountability and ensuring value for money, the Institute of Certified Public Accountants of Uganda (ICPAU) has announced plans to establish a performance audit course to standardize procedures and introduce regulations governing the auditing process.

The initiative was unveiled during the release of the November 2023 examination results at Protea Hotel, Skyz Naguru.

The November 2023 examinations, covering courses such as Accounting Technicians Diploma (ATD), Certified Tax Advisor (CTA), and Certified Public Accountants (CPA), saw a 2.6% increase in the number of candidates compared to the May 2023 examinations, with a total of 6,223 candidates sitting for the exams at seven examination centers across the country.

Ronald Mutumba, Vice President of ICPAU, emphasized the importance of standardized procedures in evaluating the performance of projects and services. He highlighted the collaborative effort between ICPAU and the Office of the Auditor General (OAG) in establishing a Performance Audit course to standardize the training of performance auditors.

Mutumba expressed confidence that this training initiative would enhance stakeholder confidence in performance audit reports conducted by professionals. Currently, performance audits are often conducted by individuals learning on the job, some of whom may not be qualified auditors and are not regulated by any authority.

Prof Laura Aseru Orobia, Chairperson of the Public Accountants Examinations Board (PAEB), emphasized the multidisciplinary nature of performance audits and their significance in improving government entities’ efficiency. She announced that the institute would adopt the performance audit modular course developed by AFROSAI-E, a body comprising 26 member countries in Africa, aiming to enhance Supreme Audit Institutions’ (SAIs) organizational capabilities for greater impact in their jurisdictions.

Prof Orobia detailed that the specialized course would be open to both performance auditors and professional accountants, addressing the need for comprehensive training in this field. Traditionally covering financial aspects, performance audits will now incorporate factors such as quality control and material utilization.

In addition to the performance audit course, Prof Orobia disclosed that the assessment of the ATD course would be transferred to the Uganda Business and Technical Examinations Board (UBTEB) starting from January 1, 2024. However, ICPAU will continue conducting examinations for existing ATD students for the next two years (2024 and 2025).

The restructuring of the ATD course by UBTEB aims to align it with their modular system, ensuring the maintenance of its quality standards.

Courtesy; The Independent