Professional development crucial for accountants

 

Lucille Isingoma, country manager,

ACCA Uganda

 

By Maureen Nakatudde

Members and trainees of the Association of Chartered Certified Accountants (ACCA) always have to upgrade their skills and be aware of what is affecting the accountancy world. That is how they can be able to tackle the challenges in the business world and also flourish in their profession.

Lucille Isingoma, country manager, ACCA Uganda, says: “ACCA members have to ensure they keep their skills and knowledge at a high standard through continous professional development.” This entails being updated with the latest news on key issues affecting the accounting profession globally.

Ethics of ACCA Uganda

In terms of accountants in Uganda, ACCA ensures that members abide by the professional code of conduct for ACCA and the code of ethics set by the Institute of Certified Public Accountants of Uganda (ICPAU), who are the national regulators for the profession.

Isingoma says that this is done so that members are accepted as affiliates (graduates) of ACCA. They have to demonstrate the right mix of knowledge and professional experience and expertise as well as their dedication to the proper ethical principles in applying this knowledge, experience and expertise. She explains that this is done when ACCA students have completed the professional ethics module, which challenges and tests their views on accounting issues.

 

Requirements for training “Values, ethics and governance are essential skills for finance professionals,” Isingoma urgues. These need to be upheld by any person wishing to join the profession.

In order to be a good accountant, ACCA has adopted a holistic approach to ethical development via the exams syllabus and the practical experience requirements and the Professional Ethics module. Here it is necessary for the applicant to have completed his or her degree in the suitable courses like bachelor of commerce in order to obtain his or her ACCA qualification.

For ACCA members, ethics is specifically about the fundamental principles that members review and agree to each year, when they renew their membership and submit their annual CPD declaration.

A bright future

“With a career in accountancy, the sky is the limit. Accounting qualifications are synonymous with ambition and ability, a sign that you are capable of succeeding in any chosen field,” Isingoma attests.

“A job in accountancy can help you gain a high salary and a fast track to the top in a field of your choice. It does not matter whether you are a chief financial officer, director or partner in an accounting firm, entrepreneur or manager of a small business or you work with government finance, it is very possible to succeed in your career.”

ACCA provides a foundation or technician level qualification and a professional level qualification, both of which enable people to pursue rewarding and interesting careers in the finance or business sector.

Members and trainees of ACCA are registered on national qualifications frameworks where it is appropriate. ACCA also offers a certificate and diploma in International Financial Reporting, which enables individuals to gain a greater understanding of international accounting standards.

“ACCA’s products are not only its qualifications,” Isingoma says, “but the talented individuals who have achieved the qualification and go ahead to enjoy interesting and rewarding careers.”

ACCA is the global body for professional accountants. They aim to offer relevant business and first choice qualifications to the subscribers of their services. They also provide skills to people who seek a rewarding career in accountancy, finance and management.

The rapid growth of ACCA in the late nineties necessitated the opening of the office in the country in 2000 to support the mushrooming number of members and students in the profession.

ACCA is the largest and fastest-growing international professional accountancy body and has 404,000 students and 140,000 members in over 170 countries.