The National Social Security Fund (NSSF), Stanbic Bank Uganda and Centenary Bank have been declared as the top three overall winners of the Financial Reporting (FiRe) Awards 2022 organised by the Institute of Certified Public Accountants of Uganda (ICPAU).
NSSF won Gold Award, Stanbic Bank went with the Silver Award while Centenary Bank took away Bronze Award in the integrated report of the year category.
These entities presented an outstanding integrated report and demonstrated a high level of adherence to the guiding principles and content elements of the integrated reporting framework, according to the organisers.
Organizers said the report was well-designed, easy to navigate, and made good use of icons to enable the reader to make the necessary links between the various content elements in the report.
Others that won at the awards include: Uganda Police Force Exodus SACCO which was voted as the most improved entity in financial reporting in Uganda, Bank of Baroda recognised for most improved report, Uganda Development Bank among others.
According to the organisers, the awards aim at promoting and enhancing the quality of financial and business reporting for business growth in Uganda, by encouraging the implementation of financial reporting standards as well as other best practices in financial reporting.
Minister of State for Finance, Henry Musasizi said giving the awards are some of the ways to enhance quality of financial and business reporting in Uganda by encouraging implementation of international financial reporting standards and best practices.
The ICPAU president, Constant Mayende said all participants of the awards are winners because they learn new things whenever they receive feedback about their reports annually.