Focus on Public Financial Management- ICPAU President Constant Mayende

The Institute of Certified Public Accountants of Uganda (ICPAU) has called for more focus on public financial management.

The President of ICPAU Constant Othieno Mayende, said people handling public finances, need to be trained and guided, “You are aware of the issues in public financial management. Recently I think we were all watching what was going on in the National Social Security Fund (NSSF). We know what is going on in central and local government. Clearly, the management of the public deserves a lot of focus.”

He made the remarks as the institute unveiled 10 beneficiaries of the 4th cohort of the student scholarship programme at Skyz Hotel in Naguru Kampala.

Mayende told said the institute will be holding the first public finance management conference from April 18-20, 2023 under the theme “Strengthening Public Finance Management for Sustainable Development” underscoring the importance of managing public resources.

He noted that people need to be trained and guided, adding that this is why their focus this year will be financial management.

The conference targets accounting officers, policymakers, economists, Members of Parliament, development partners, Certified Public Accountants and members of the public among others.

Otieno said that the institute will continue to nurture and provide young talent with opportunities to sharpen their career paths.

Scholarship

The beneficiaries of the Students Scholarship Programme beat over 489 applicants from 32 Uganda Universities and 3 foreign universities.

Derrick Nkajja, the chief executive officer of the institute, said the student scholarship programme was introduced in 2019, as part of the institute’s corporate social responsibility, to nurture young talent in the field of professional accountancy. The programme is in its fourth cycle.

The scholarship package covers; registration, annual studentship renewal, examination fees and reading materials.

He noted the significance of professional accountancy education.

The ICPAU Student Scholarship programme targets university graduates from public and private chartered universities who have first-class honours or second-class honours (upper division) degrees.

During the course, students are required to demonstrate their knowledge and skills by attaining practical experience in major fields of financial reporting, management accounting, taxation, auditing, financial management, information technology, insolvency practice, communication skills, personal skills, and organisational skills.