ICPAU’s 29th annual seminar emphasises importance of ESG standards

Allen Kagina, the Executive Director of the Uganda National Roads Authority (UNRA), reaffirmed the agency’s commitment to implementing Environmental, Social, and Governance (ESG) standards in line with the IFRS Sustainability Disclosure Standards, recently adopted by Uganda.

She made the remarks while officially opening the 29th ICPAU Annual Seminar in Entebbe on September 4, where she served as the chief guest.

Kagina, formerly the Commissioner General of the Uganda Revenue Authority, stressed the importance of balancing development with environmental conservation to ensure the future generation’s well-being.

She cited UNRA’s past experiences, such as the disruption of wildlife movement in Budongo Forest during road construction, as an example of the adverse environmental impacts of development.

To mitigate such effects, UNRA has implemented measures like restoring tree canopies to protect wildlife.

She discussed Uganda’s new ESG standards, which are aligned with international frameworks like the IFRS.

These standards are designed to guide institutions in reducing their environmental impact while continuing development activities. “Climate change is a pressing concern,” she said, urging institutions to adopt sustainable practices.

Additionally, Kagina called for financial literacy programs for communities affected by road construction, noting that compensation often leads to financial mismanagement due to a lack of experience with large sums of money.

John Bosco Ntangaare, Board Chairperson of Pearl Capital Partners Uganda, emphasized ICPAU’s role in guiding the government on financial accountability and ensuring sound management across all sectors.

“Accountants are key players in shaping policies that impact the economy,” he said, adding that ICPAU is committed to protecting the public interest through policy advocacy and leadership.

The 29th Annual Seminar, themed “Driving Sustainability and Trust,” is organized by the Institute of Certified Public Accountants of Uganda (ICPAU) and runs until September 6. The event highlights the role of accountants in fostering sustainable practices and building trust within the profession.

CPA Derick Nkajja, Secretary/CEO of ICPAU, emphasized the importance of integrating the Sustainable Development Goals into business strategies, ensuring long-term benefits across economic, social, and environmental dimensions.

Since its inception in 1995, the ICPAU Annual Seminar has provided an opportunity for accountants to enhance their Continuing Professional Development (CPD) in various fields beyond accounting, including personal finance, business, and health.

It remains Uganda’s largest symposium of professionals, attracting over 1,500 participants from various sectors according to ICPAU executives.