Financial Reporting (FiRe) awards on

The Institute of Certified Public Accountants of Uganda (ICPAU), in partnership with the Capital Markets Authority (CMA), Uganda Securities Exchange (USE) and other partners is set to hold the 11th edition of the Financial Reporting (FiRe) Awards.

The 11th edition of the Awards will evaluate the 2020 annual reports and it will take place on Tuesday June 15 2021.

Introduced in 2011, the FiRe awards are an annual ceremony through which excellence in financial reporting is recognised and rewarded.

Organisations in the private, public and non-governmental organisations sectors participate by submission of their annual reports for the year under review.

The best performers are rewarded based on their level of compliance with international financial reporting standards.

The theme of the 11th edition is: "Integrated Reporting: Building Blocks for Stakeholder Confidence."

Organisers explained that over the past two years, emphasis has been placed on integrated reporting, a global reporting framework which addresses the information needs of investors by demonstrating in detail how financial, manufactured, intellectual, human, social and natural resources are used to create value for investors.

Mark Omona, ICPAU’s Director Standards and Regulation said: "Preparers need to report holistically on how the organisation impacts the six capitals."

He emphasised the need for organisations to address the climate issue which is increasingly becoming a key global concern.

"A lot of attention is being placed on the impact of climate change and therefore organisations must continuously demonstrate their commitment to sustainability," Omona said.