Ugandan Accountants Must Embrace Tech to Stay Relevant, Minister Urges

Accountants in Uganda are being strongly encouraged to adopt technological advancements and innovative approaches. This proactive stance is crucial for improving operational efficiency, bolstering accountability mechanisms, and ensuring continued relevance in a profession that is rapidly evolving.

The directive was issued during the 31st annual seminar of the Institute of Certified Public Accountants of Uganda (ICPAU). Minister of Finance, Planning and Economic Development, Henry Musasizi, highlighted that technology is fundamentally reshaping the accounting field.

“Digital financial management systems, blockchain, artificial intelligence, and other emerging technologies are changing the way financial information is generated, managed, analysed, and used,” the Minister stated. He urged the profession to leverage these tools to enhance transparency, strengthen controls, and remain competitive in a technology-driven global economy.

Furthermore, Mr. Musasizi emphasized the critical role accountants will play in achieving Uganda’s ambitious ‘10-Fold Growth Strategy,’ which aims to significantly expand the nation’s economy by 2040. Accountants will be instrumental in monitoring progress, evaluating outcomes, and providing reliable data for strategic decision-making across key economic sectors.

Echoing this sentiment, ICPAU President Timothy Ediomu advised professionals to look beyond traditional financial reporting. He stressed the importance of accountants positioning themselves as strategic advisors by continuously developing new skills, upholding integrity, and embracing technological integration as the business landscape transforms.

This advice was shared at the 31st annual seminar of the Institute of Certified Public Accountants of Uganda (ICPAU) at Imperial Resort Beach Hotel in Entebbe on August 2. https://www.monitor.co.ug/uganda/news/national/accountants-urged-to-embrace-technology-to-remain-relevant—5581694