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Tag Archives: Accounts

ICPAU: Accountancy exam failure rates worrying

Kampala, Uganda | THE INDEPENDENT | The pass rate for accountancy students continues to worry, with only 32.9 percent of the 3919 passing the August exams of the Institute of Certified Public Accountants of Uganda (ICPAU). This, however, is an improvement of 0.3 percent from the June 2023 exam. According to …

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Kanungu accounts officer arrested over ‘missing’ sh77 million

Kanungu, Uganda | THE INDEPENDENT | Charles Mugisha, the Kanungu District Senior Accounts Assistant has been arrested for allegedly embezzling funds worth sh77.320 million. Mugisha was arrested on Wednesday by detectives and officials attached to the Inspectorate of Government (IG) led by Sam Agaba, the IG in charge of Kigezi …

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CSOs in Bukedi, Bugisu want gov’t to unfreeze NGO accounts

Kampala, Uganda | THE INDEPENDENT | Civil Society Organizations in Bukedi and Bugisu have asked the government to unconditionally unfreeze the accounts of two Non-Governmental Organizations-NGOs. Last week, the Financial Intelligence Authority froze bank accounts of the Uganda NGO Forum and the Uganda Women Network on grounds that they were financing …

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Luweero NGO Forum piles pressure on gov’t to unfreeze NGO accounts

Kampala, Uganda | THE INDEPENDENT | Members of Luweero Non-government organizations have condemned the government’s action of freezing organizations’ accounts saying the decision was ill-advised. Last week, the Financial Intelligence Authority of Uganda froze the National NGO Forum and UWONET accounts on allegation of funding terrorism activities. The act has not …

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Smaller companies urged to use affordable accountants

Kampala, Uganda | THE INDEPENDENT | The Institute of Certified Public Accountants of Uganda (ICPAU) has advised smaller companies that cannot afford to hire expensive audit firms to prepare their accounts to make use of the cheaper auditors that the institute has certified. Stephen Ineget, the chairman of the Financial Reporting …

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ICPAU boss backs new ways of growing accountancy profession  

  Kampala, Uganda | JULIUS BUSINGE | The President of the Institute of Certified Public Accountants of Uganda Frederick Kibbedi (CPA) is pushing for adoption of new initiatives that can improve the standards of the profession in the country. Kibbedi who was addressing a number of practicing accountants during the …

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Cabinet gives URA go-ahead on dubious account holders

Kampala, Uganda | THE INDEPENDENT | Government has asked Uganda Revenue Authority (URA) to drop a recent directive for banks to release to them account details of all their clients. Uganda’s cabinet decided on Monday that the URA move “would cause unnecessary litigation and some turbulence in the banking sector and …

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Why Ugandan bankers are heading to court to battle URA

  Kampala, Uganda | THE INDEPENDENT |  The Uganda Bankers Association (UBA) is challenging a directive to its members requiring them to furnish information related to all the accounts they hold. Uganda Revenue Authority (URA) last month wrote to all Ugandan banking institutions asking them to release demographic and financial …

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