The Institute of Certified Public Accountants of Uganda (ICPAU) has officially launched the 2025 Financial Reporting (FiRe) Awards, reinforcing its commitment to enhancing transparency, accountability, and sustainability across Uganda’s public, private, and nonprofit sectors.
The launch press conference was held on Wednesday at the Millennium Terrace Hotel in Kamwokya.
Speaking at the event, CPA Charles Lutimba, Head of Standards at ICPAU, said the Awards go far beyond regulatory compliance. “At ICPAU, our role goes beyond regulation. We are custodians of Uganda’s professional accountancy standards, and champions of better corporate reporting,” he said.
Founded in 2011, the FiRe Awards were created to assess and elevate the quality of annual reporting in Uganda. This year’s theme — “Sustainability Practices and Reporting in Uncertain Global Times” — urges organisations to rethink how they report amid global disruptions such as climate change, regulatory shifts, and geopolitical tensions.
“Entities must now ask, how do we balance profitability, competitiveness, and community concerns—and how is that balance communicated to stakeholders?” Lutimba added. He pointed to Uganda’s adoption of the IFRS Sustainability Disclosure Standards in September 2024 as a milestone that has reshaped the direction of corporate reporting nationally.
CPA Stephen Ineget, Chairperson of the FiRe Awards Committee, said: “The FiRe Awards were created to promote accountability—not just to reward reports, but to inspire a culture of integrity and governance across Uganda.” He noted that submissions are open until 30 September 2025, and that participation is free and open to all sectors, including SMEs, NGOs, and government agencies.
“Every entity that participates benefits, whether through recognition or expert feedback,” CPA Ineget said, citing PostBank and DFCU as examples of organisations that have enhanced credibility through the Awards.
Lyn Tukei, PR and Communications Manager at the Capital Markets Authority (CMA), reinforced the link between transparency and access to capital. “Access to capital begins with trust, and trust begins with reporting,” she said. “Without strong financial reports, investors cannot evaluate risk or value.”
“Many Ugandan businesses are family-owned and informal,” Tukei added. “But to raise capital, you must open up and professionalise. FiRe Awards and CMA programmes like the Deal Flow Facility are here to help.”
CPA Margaret Saano of Vision Group called on organisations to take part: “The public deserves to know how entities perform financially and beyond. There should be no information gap,” she said.
From the Uganda Securities Exchange, John Were echoed that sentiment: “The FiRe Awards help entities build the discipline of transparency, which is essential for raising capital in today’s market.”
He said financial reporting today must include environmental impact, board diversity, and governance practices. “Sometimes, the financials come last. Your purpose comes first.”
Corporate leaders also testified to FiRe’s impact. CPA Peter Ssenyange, CFO of PostBank, said: “At FiRe, our reporting became our voice to Ugandans—authentic, strategic, and proudly local. Our reports no longer speak in hindsight—they project the future.”
Emma Ahuriri, Finance Manager at the Infectious Diseases Institute, applauded the platform for promoting integrated, purpose-driven reporting: “Integrated reporting isn’t about profit alone. It’s about strategy, governance, culture, and telling a Ugandan story with clarity.”
The FiRe Awards 2025 are jointly organised by ICPAU, Capital Markets Authority, Uganda Securities Exchange, and Vision Group, with a shared mission of raising the bar for corporate transparency and integrity in Uganda.
How to Participate: Submit your annual report by 30 September 2025 via: https://pulse.ly/nmkripl68z Or deliver 3 printed copies to ICPAU Offices, Bukoto.
