The National Social Security Fund (NSSF), Centenary Bank, Stanbic Bank and Umeme dominated the 2021 Financial Reporting Awards (FiRe) organised by the Institute of Certified Public Accountants of Uganda (ICPA-U).
The FiRe Awards are an annual ceremony through which excellence in financial reporting is recognized and rewarded.
NSSF was declared the overall winner of this year’s 2021 Financial Reporting Awards (FiRe) that was held virtually at Skyz Hotel Naguru in Kampala on Wednesday, 10 November 2021.
NSSF won after presenting a detailed digital and highly interactive report with easy leads to navigate. Its report showed a strategy aimed at creating value, opportunities and managing risks.
“The NSSF report provided a lot that one would expect…it was an exemplary report,” said Stephen Ineget, the chairman organising committee of the 2021 awards.
The Fund was also recognised as the 1st Runner-up for the Sustainability and Corporate Governance Report. The 2nd Runner–Up was Liberty Life Assurance Uganda Limited.
Centenary Bank and Stanbic Uganda Holdings Limited (SUHL), won Silver and Bronze respectively.
Stanbic Uganda won four other accolades in other categories of the awards.
The special award on reporting under the IFRS for SMEs went to Child’s Foundation, while Send A Cow walked away with the 1st runners-up award and Elite Digital Solutions took the 2nd runners-up award.
The winners of the Consumer and Industry category was UMEME LTD. The 2nd Runner Up was CIPLA Quality Chemical Industries Limited and the 1st Runner Up Uganda Clays Limited
In the Sustainability Reporting Award, the 1st Runners–Up was National Water & Sewerage Corporation.
The ICPAU president, Constant Mayende (CPA) and Derick Nkajja, the CEO of the institute, said all participants of the awards are winners because they learn new things whenever they receive feedback about their reports annually.
The FiRe Awards are an annual ceremony through which excellence in financial reporting is recognized and rewarded.
Organisations in the private, public and non-profit sectors participate by submission of their annual reports for the year under review. The best performers are rewarded based on their level of compliance with International Financial Reporting Standards.
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