KAMPALA — The National Social Security Fund were announced winners of the 2021 Financial Reporting Awards popularly known as the FiRe awards organized by the Institute of Certified Public Accountants of Uganda (ICPAU).
Centenary Bank took the Silver Award while Stanbic Bank Uganda Limited Bank was announced the bronze winner.
CPA Stephen Ineget, Chairperson, FiRe Awards Committee said winners of the FiRe Awards were selected based on both their financial and non-financial reporting achievements.
“The Committee continues to encourage all organisations to embrace and continue to enhance their quality of integrated reporting,” he said.
He said that the process of preparing an annual report is a great opportunity to re-examine the organisation’s business model, to refocus strategies and reposition the organisation to create sustainable and long-term value.
“We continue to encourage participants to make use of the expert feedback provided by our professional team of evaluators, and be able to make continous improvements”.
CPA Constant Mayende, the President ICPAU urged CPAs to uphold professional ethics.
“Ethics is the cornerstone of accountancy profession and we speak about professional ethics over and over again, for emphasis. A nation is only as strong as the integrity of its people. And theft and the misuse of public resources are the reason that many nations lag behind,” he said.
He added:
“As the regulator for accountancy, the Institute is committed to promoting professionalism, by enforcing discipline among its members. However, members of the public must note that ICPAU’s jurisdiction in enforcing the accountants Code of Conduct is restricted to its members. Therefore, we encourage employers to support ICPAU’s efforts by recruiting Certified Public Accountants. One is an Accountant recognised by Ugandan courts only when one is registered as a full member of the Institute of Certified Public Accountants of Uganda”.
1.0 Presentation of Financial Reporting Awards
1.1 Insurance Brokers
Certificate of recognition for achievement in financial reporting under the Insurance Brokers Category
• Willis Towers Watson Uganda Insurance Brokers Ltd
1.2 Forex Bureaux
Certificate of recognition for achievement in financial reporting under the Forex Bureaux Category
• Economic Exchange Forex Bureau Limited
1.3 Religious Institutions
Award
• Winner Scripture Union of Uganda
1.4 Education Institutions
Award
• Winner Ndejje University
1.5 Cooperative Societies
Certificate of recognition for achievement in financial reporting under the Cooperative Societies Category
• CPA SACCO Limited Awards
• 2nd Runner UpFranciscan Investment Cooperative Society Limited
• 1st Runner UpY- Save Multipurpose Cooperative Society Ltd
• Winner Wazalendo SACCO Limited
1.6 Retirement Benefit Services
Certificate of recognition for achievement in financial reporting under the Retirement Benefits Schemes Category
• Uganda Clays Staff Contributory Provident Fund Awards
• 2nd Runner UpBank of Uganda Defined Contributions Scheme
• 1st Runner UpBank of Uganda Defined Benefits Scheme
• Winner
Makerere University Retirement Benefits Scheme
1.7 Regulatory Bodies and Associations
Award
• Winner Bank of Uganda
1.8 Non-for-Profit Organisations
Certificate of recognition for achievement in financial reporting under the Not-for-Profit Organisations Category
• Send a Cow Uganda Limited Awards
• 2nd Runner UpSNV Netherlands Development Organisation Limited
• 1st Runner UpBaylor College of Medicine Children’s Foundation Uganda
• Winner Child’s i Foundation
PART 2
2.0 Presentation of Financial Reporting Awards
2.1 Consumer and Industrial Products
Category B
Certificates of recognition for achievement in financial reporting under the Consumer & Industrial Products Category B
• Elite Computers Uganda Limited
• Harley’s (U) Limited
2.2 Consumer and Industrial Products
Category A
Certificate of recognition for achievement in financial reporting under the Consumer and Industrial Products Category A
• British American Tobacco Uganda Limited Awards
• 2nd Runner UpCIPLA Quality Chemical Industries Limited
• 1st Runner UpUganda Clays Limited
• Winner Umeme Limited
2.3 Public Sector
Certificate of recognition for achievement in financial reporting under the Public Sector Category
• Deposit Protection Fund of Uganda Awards
• 2nd Runner UpNational Water and Sewerage Corporation
• 1st Runner UpNew Vision Printing and Publishing Company Ltd
• Winner National Social Security Fund
2.4 Insurance Services
Certificate of recognition for achievement in financial reporting under the Insurance Services Category
• UAP Old Mutual Insurance Uganda Limited
Awards
• 1st Runner Up
• Winner
Uganda Reinsurance Company Limited Liberty Life Assurance Uganda Limited
2.5 Microfinance Deposit Taking Institutions
Award
Winner
FINCA Uganda Ltd (MDI)
2.6 Commercial Banks
Awards
• 2nd Runner–UpCentenary Rural Development Bank
• 1st Runner–Up • Winner
dfcu Limited
Stanbic Uganda Holdings Ltd
PART 3
3.0 Presentation of Special Awards of Excellence
3.1 Reporting under IPSAS
Certificate of recognition for achievement in financial reporting under the IPSAS Category
1st Runner
Kampala Capital City Authority
Award
Winner
SNV Netherlands Development Organization Limited
3.2 Reporting under the IFRS for SMEs
Certificate of recognition for achievement in financial reporting under the IFRS for SMEs Category
• 2nd Runner Elite Computers Uganda Limited
• 1st Runner Send a Cow Uganda Limited
Award
• Winner Child’s i Foundation
3.3 Most Improved Report Award
Award
• Winner Franciscan Investment Cooperative Society
3.4 Best Listed Entity Award
Certificates of recognition for achievement under the Listed Entity Category
• 2nd Runner dfcu Limited
• 1st Runner New Vision Printing & Publishing Company Limited
Award
• Winner Stanbic Uganda Holdings Ltd
3.5 Presentation and Communication Award
Certificates of recognition for achievements in Communication and Presentation
• 1st Runners–UpNew Vision Printing & Publishing Company Limited
Uganda Development Bank Limited
Liberty Life Assurance Uganda Limited
Award
• Winner
Centenary Rural Development Bank
3.6 Sustainability Reporting Award
Certificates of recognition for good Sustainability Reporting
• 1st Runners–UpNational Water & Sewerage Corporation
National Social Security Fund
Award
• Winner Stanbic Uganda Holdings Ltd
3.7 Corporate Governance Award
Certificates of recognition for good Corporate Governance Reporting
• 2nd Runner–UpLiberty Life Assurance Uganda Limited
• 1st Runner–UpNational Social Security Fund
Award
• Winner Stanbic Uganda Holdings Limited
PART 4
4.0 Integrated Report of the Year Award
a) Bronze Award Stanbic Uganda Holdings Limited
b) Silver Award Centenary Rural Development Bank
c) Gold Award National Social Security Fund
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