ICPAU to establish a performance audit course regulating auditors

ICPAU to establish a performance audit course regulating auditors
Caption not available

The Institute of Certified Public Accountants of Uganda (ICPAU) is planning to standardize performance audits and introduce regulations governing the auditing process.

This initiative aims to enhance accountability and ensure value for money.

The announcement was made during the release of the November 2023 examination results at Protea Hotel, Skyz Naguru.

The November 2023 examinations took place from Monday, November 27, to Friday, December 1, 2023, at seven examination centers: Arua, Fort Portal, Gulu, Kampala, Mbale, Mbarara, and Nkozi.

The exams covered courses such as Accounting Technicians Diploma (ATD), Certified Tax Advisor (CTA), and Certified Public Accountants (CPA).

The number of candidates who sat for the exams increased by 2.6% compared to the May 2023 examinations, with a total of 6,223 candidates.

Vice President of ICPAU, Ronald Mutumba, stressed the importance of standardized procedures in evaluating the performance of projects and services.

Mutumba highlighted the collaboration between ICPAU and the Office of the Auditor General (OAG) in establishing a Performance Audit course to standardize the training of performance auditors.

" We trust that this training will enhance confidence on the national stakeholders on performance audit reports as work done by professionals,"he said.

ICPAU highlights that currently, performance audits are conducted by individuals who learn on the job, with some not being qualified auditors and not regulated by any authority.

Prof Laura Aseru Orobia, Chairperson of the Public Accountants Examinations Board (PAEB), highlighted the multidisciplinary nature of performance audits and their significance in improving government entities' efficiency.

She mentioned that the institute will adopt the performance audit modular course developed by the African Organisation of English-Speaking Supreme Audit Institutions (AFROSAI-E), a body comprising 26 member countries in Africa.

Its aim is to transform Supreme Audit Institutions' (SAIs) organisational capabilities for greater impact in their jurisdictions.

"This specialised course will be open to performance auditors and professional accountants,"she said.

Traditionally, performance audits have encompassed not only financial aspects but also factors such as quality control and material utilization.

In addition to the performance audit course, Prof Orobia announced that the assessment of the Accounting Technicians Diploma (ATD) course will be transferred to the Uganda Business and Technical Examinations Board (UBTEB) starting from January 1, 2024

However, ICPAU will continue conducting examinations for existing students for the next two years (2024 and 2025). The ATD course has been restructured by UBTEB to align with their modular system, ensuring its quality is maintained

Reader's Comments

RELATED ARTICLES

LATEST STORIES