The Institute of Certified Public Accountants of Uganda (ICPAU) has a statutory mandate to regulate and maintain the standard of accountancy in Uganda. The introduction of Financial Reporting (FiRe) Awards is one way of encouraging the implementation of financial reporting standards as well as improving the quality of financial and business reporting in Uganda.
ICPAU in partnership with the Uganda Securities Exchange and the Capital Markets
Authority will hold the 2021 Financial Reporting (FiRe) Awards. The 11th Edition of the FiRe Awards will be held under the theme, Integrated Reporting: Building Blocks for Stakeholder Confidence.
The FiRe Awards will provide an opportunity to organisations that will participate, to benchmark their reports against the Institute’s criteria of good financial reports.
Annual reporting is an essential mechanism of accountability and it consolidates the governance process. Good reporting requires good attention to detail and accuracy, sensitivity and responsiveness to stakeholders, a willingness to communicate effectively to stakeholders and a commitment to compliance with the standards.
Objectives of the ICPAU FiRe Awards
- To promote excellence in reporting through the publication of informative and factual reports.
- To encourage effective communication of financial and business information.
- To create public awareness of valid and objective measures of performance and promote a better understanding of the results achieved.
- To create public awareness of the purposes of organisations, how they function, and their achievements.
- To showcase best practices in financial reporting.
The opening date for entries into the Awards was 1 June 2021 and the closing date is 8 October 2021.
The Awards Presentation Ceremony will be held on Wednesday, 10 November 2021.