Accountants Challenged on Transparency

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The Permanent Secretary in the Ministry of Finance and Secretary to the Treasury Keith Muhakanizi has challenged accountants to practice transparency in their line of work as the country strives to achieve a middle income status. In a speech read by the Accountant General Lawrence Ssemakula, Muhakanizi expressed concern that falling accounting standards were affecting the country’s economic development. The call was made last night during the Financial Reporting (FIRE) Awards organized by the Institute of Certified Public Accountants – Uganda in Kampala.
The Institute President Protazio Begumisa urged companies outside Kampala to partake in the annual awards as they strive to improve operations. Lion Assurance company Limited emerged overall winner of the 2016 edition of the awards.