The Deputy Speaker of Parliament Thomas Tayebwa has called on stakeholders in the accountancy profession to focus on three key pillars including innovation, integrity, and community impact, to address the ongoing challenges facing the sector.
Speaking at the 2024 Association of Chartered Certified Accountants (ACCA) Uganda Members Convention, Tayebwa highlighted the damaging effects of dishonest auditors, whose actions, including advising business owners to evade taxes, have led to the closure of many businesses.
Tayebwa also urged accountants to collaborate in finding long-term solutions to combat the rising cases of fraud in banks, which have instilled fear among the public.
“Many businesses have closed that way because of quack auditors and dishonest auditors so we don’t know how we can work with you to crack down on those people.” Tayebwa remarked.
The three-day ACCA convention, held at the Speke Resort Munyonyo, is themed “Empowering Finance Professionals for a Sustainable Future” and brings together professionals from across the country to discuss and address the challenges and opportunities in the accountancy profession.
