The Institute of Certified Public Accountants of Uganda (ICPAU) held its 31st Annual General Meeting (AGM) on Thursday, June 26, 2025, at the Imperial Royale Hotel in Kampala, marking the end of CPA Josephine Ossiya’s tenure as President and celebrating the Institute’s remarkable post-pandemic growth and governance milestones.
Opening the session with a tone of pride and reflection, CPA Ossiya said, “When we took office in July 2023, it was a post-COVID recovery period. But together, with commitment and resilience, we moved the Institute forward.”
She reported that the Institute’s income grew significantly under her leadership, rising to UGX 20.84 billion, which she attributed to an increase in membership, successful events, and improved investment strategies. “Our membership rose from 3,980 in 2022 to 4,540 today. Student numbers also jumped from under 10,000 to over 12,000,” she announced, pointing to growing trust in the CPA (U) qualification.
Highlighting continuity and access in accountancy education, CPA Ossiya emphasised the launch of the Accounting Technicians Framework with UBTEB, a measure to ensure a smooth transition for ATD students as PAEB discontinues its exam in 2025.
She also noted ICPAU’s growing emphasis on evidence-based reforms: “We’ve set up a research unit, and our first study on CPA student performance will be published soon.”
Further celebrating innovation, she praised the success of the FAQ Masterclass. “Of those who joined the pilot in 2024, 81 qualified and graduated in March 2025. Another intake begins in July, transforming global professionals into CPAs (U),” she said.
CPA Ossiya underscored ICPAU’s rising voice in national economic discussions, citing contributions to tax bills, financial reporting reforms, and economic policy. “We’ve strengthened the Institute’s voice on national issues,” she noted.
Clean Financials
The AGM also featured the presentation of the Institute’s audited financial statements by CPA Innocent Muhangazi, confirming full compliance with both the Accountants Act and International Financial Reporting Standards.
“The statements present a true and fair view of the Institute’s financial position as of 31 Dec 2024,” said CPA Muhangazi. The audit, conducted by Mazars BRG, earned the Institute a clean, unmodified opinion, validating ICPAU’s strong financial governance.
“This audit is not just about compliance; it’s about confidence,” CPA Muhangazi added. “We affirm that ICPAU continues to uphold integrity in financial governance.”
A notable highlight of the AGM was the announcement of new Governing Council members, including Ms. Nancy Owino Amuge, Manager, Finance at Uganda Civil Aviation Authority. Her election, conducted electronically between June 12–23, 2025, was warmly congratulated by her colleagues and institutions alike.
The 31st AGM marked a moment of both reflection and renewed ambition for ICPAU, as it prepares for a new chapter under incoming leadership with a firm foundation of growth, integrity, and national relevance.
