Professional Accountants Asked To Give Free Business Tips To Struggling Enterprises

Posted by: Kyeyune Andrew Jonathan in Business October 28, 2021

Derrick Nkajja, the CEO of the Institute of Certified Public Accountants of Uganda (ICPAU) called upon professional accountants to help SMEs.

He said professionals should provide business management ideas to SMEs facing financial crises due to COVID-19.

He made these remarks while speaking at the virtual release of the Certified Public Accountants examination results. Furthermore, he said the development will save distressed businesses from the COVID-19 after effects.

On Wednesday, the ICPAU through its examination body released the results of examinations that they conducted in October from 4-8.

These were done from seven different examination centers including Fort Portal, Kampala, Gulu, Mbale, Arua, and Nkozi.

A total of 4,238 students attempted the October 2021 examinations.

“We appreciate the level of preparedness of these candidates,” said CPA Geoffrey Byamugisha, the chairperson of the CPA Examinations Board.

Byamugisha further said that with determination and preparedness, students can pass the CPA course papers at first attempt.

In 2021, at least 118 students completed the CPA course compared to 109 in December 2020. Of the 118 students, 64 are female while 54 are male.

Since the 1990s when the course first started, this has brought the total number of students who have completed the course to 4,113.

The SMEs

Meanwhile, small and Medium Enterprises (SMEs) registered 80% loses during covid pandemic a new survey by Innovations Village has unearthed. According to the report, majority of them made considerable loses because they lacked innovations to provide services beyond physical presence.

The report further notes that during covid, consumers abandoned traditional retail shopping to online apart from accessing food stuff traditionally in the market. According to the report survey says online is the thing following strict standard operating procedures of accessing retail shops put up by ministry of health and risk of covid Infections.

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