Tag Archives: Accounts

Kampala, Uganda | THE INDEPENDENT | The pass rate for accountancy students continues to worry, with only 32.9 percent of the 3919 passing the August exams of the Institute of Certified Public Accountants of Uganda (ICPAU). This, however, is an improvement of 0.3 percent from the June 2023 exam. According to …

Kampala, Uganda | THE INDEPENDENT | The Committee on Defence and Internal Affairs will examine different bank accounts operated by Police Savings and Credit Cooperative Organization (SACCO), Exodus. This arises from the observation that the Police Sacco which was founded in 2007 has been opening and operating new bank accounts each …

Kanungu, Uganda | THE INDEPENDENT | Charles Mugisha, the Kanungu District Senior Accounts Assistant has been arrested for allegedly embezzling funds worth sh77.320 million. Mugisha was arrested on Wednesday by detectives and officials attached to the Inspectorate of Government (IG) led by Sam Agaba, the IG in charge of Kigezi …

Kampala, Uganda | THE INDEPENDENT | The Constitutional Court sitting in Kampala has ruled as illegal a request by the Uganda Revenue Authority (URA) to all banks to provide it with all the details of their customers. In a lead judgement written by Justice Christopher Madrama Izama, the court found that …

Kampala, Uganda | THE INDEPENDENT | Civil Society Organizations in Bukedi and Bugisu have asked the government to unconditionally unfreeze the accounts of two Non-Governmental Organizations-NGOs. Last week, the Financial Intelligence Authority froze bank accounts of the Uganda NGO Forum and the Uganda Women Network on grounds that they were financing …

Kampala, Uganda | THE INDEPENDENT | Members of Luweero Non-government organizations have condemned the government’s action of freezing organizations’ accounts saying the decision was ill-advised. Last week, the Financial Intelligence Authority of Uganda froze the National NGO Forum and UWONET accounts on allegation of funding terrorism activities. The act has not …

Kampala, Uganda | THE INDEPENDENT | The Institute of Certified Public Accountants of Uganda (ICPAU) has advised smaller companies that cannot afford to hire expensive audit firms to prepare their accounts to make use of the cheaper auditors that the institute has certified. Stephen Ineget, the chairman of the Financial Reporting …

  Kampala, Uganda | JULIUS BUSINGE | The President of the Institute of Certified Public Accountants of Uganda Frederick Kibbedi (CPA) is pushing for adoption of new initiatives that can improve the standards of the profession in the country. Kibbedi who was addressing a number of practicing accountants during the …

Kampala, Uganda | THE INDEPENDENT | Government has asked Uganda Revenue Authority (URA) to drop a recent directive for banks to release to them account details of all their clients. Uganda’s cabinet decided on Monday that the URA move “would cause unnecessary litigation and some turbulence in the banking sector and …

  Kampala, Uganda | THE INDEPENDENT |  The Uganda Bankers Association (UBA) is challenging a directive to its members requiring them to furnish information related to all the accounts they hold. Uganda Revenue Authority (URA) last month wrote to all Ugandan banking institutions asking them to release demographic and financial …