Before 1970 there was neither a local institution nor framework to regulate accountants in Uganda. Accountants were trained in United Kingdom and their practice in Uganda was regulated by the foreign institutes they belonged to.<\/p>\n
In 1969 members of the East African Community realised need to enact new local laws to regulate the profession in respective countries. Therefore in 1970, the Registered Accountants Act No.5 was enacted in Uganda. Tanzania and Kenya followed suit in 1972 and 1977 respectively.
\nAct No.5 of 1970 led to the establishment of the Institute of Certified Public Accountants of Uganda and provided for a Council responsible for management of the institute, the disciplining of accountants and maintenance of professional standards. The political stability that followed after the military takeover in 1971 made the operation of the law impossible.
\nThe return of political stability after 1986 as well as economic revival lead to the Accountants Act No.5 to be repealed and the Accountants Act 1992 passed.<\/p>\n
Accountants Act 1992<\/p>\n
The Institute of Certified Public Accountants of Uganda (ICPAU) was establishment after The Accountants Statute No. 12, now the Accountants Act, and Cap. 266 of the Laws of Uganda, 2000, were enacted in August 1992.<\/p>\n
Interim Council of the Institute:
\nIn 1993, the Minister of Finance appointed an interim Council comprising of the following;
\nGeorge W. Egaddu \u2013 Interim President
\nBen Okello Luwum \u2013 Interim Secretary
\nAuditor General \u2013 Ex-Officio member
\nCommissioner of Accounts – Ex-Officio member
\nCommissioner for Education – Ex-Officio member
\nOn 8 November 1994, the first duly elected Council was formed comprising of the following;
\n1. George W. Egaddu 2. Ben Okello Luwum
\n3. Joseph Baliddawa 4. Fulgence Mungereza
\n5. Pius K. Bahemuka 6. Fawn Cousens
\n7. Steven Turyahikayo
\nPius K. Bahemuka later on took up the position of Secretary \/ Chief Executive Officer. The Council then co-opted Narendra Ambalal Thakkar to replace him. Thakkar was subsequently duly elected as a Council member on 21 June 1996.<\/p>\n
Source<\/strong>: http:\/\/www.icpau.co.ug\/index.php?option=com_content&view=article&id=59&Itemid=121<\/a><\/p>\n [embeddoc url=”http:\/\/fortuneofafrica.com\/ug\/wp-content\/uploads\/sites\/12\/2012\/10\/ST1NV070817.p23.pdf” download=”all”]<\/p>\n Challenges ICPAU faced in the Earlier Years<\/strong><\/p>\n The Accountants Act 1992 stated that the Institute of Chartered Secretaries and Administrators (ICSA) were among those enlisted on enrolment of members as accountants. In 1995 however the Minister in exercise of his discretion under Section 47 ammended this fifth schedule to the Act by Accountants Act Amendment Order, No. 258 of 1994. This hence excluded Institute of Chartered Secretaries and Administrators (ICSA) from first enrolment. This led to a civil law suit.<\/p>\n Sebunya Lule and Others V Attorney General and Others High Court suit No.476 of 1995.<\/strong><\/p>\n The plaintiff and others on behalf of Association of Chartered Secretaries and Administrators (ACSA) alleged that they qualified for full admission to membership of the ICPAU under the Accountants Act. An interim judgement was issued for the above civil suit in September 2000 in which it was declared that Accountants Act order, No. 258 of 1994 was invalid hence permitting members of ICSA to register under ICPAU.<\/p>\n However the qualified accountants stuck to their stand and ICSA members have not been admitted up to this day and their grounds for their admission has been overtaken by other developments.<\/p>\n Current status of Institute of Certified Public Accountants Uganda (ICPAU)<\/strong><\/p>\n The Institute of Certified Public Accountants of Uganda (ICPAU) is the national body for professional accountants in Uganda with the following main functions: Vision<\/strong> Mission<\/strong> Core Values<\/strong> Location of ICPAU Offices Uganda
\nThe basis of their assertion was that they were wrongfully deleted from the list of enrolment in the ICPAU membership.
\nThe issue of the suit was whether statutory instrument No.258 of 1994 which amended the fifth schedule of the accountants Act was valid.<\/p>\n
\n\u2022 To regulate and maintain standard of accountancy in Uganda
\n\u2022 Prescribe or regulate the conducts of accountants in Uganda.<\/p>\n
\nTo be a world-class professional accountancy institute<\/p>\n
\nTo develop and promote the accountancy profession in Uganda and beyond<\/p>\n
\n\u2022 Professional excellence
\n\u2022 Integrity
\n\u2022 Commitment
\n\u2022 Good governance
\n\u2022 Social responsiveness<\/p>\n
\n<\/strong><\/p>\n