Browsing: Institute Certified of Public Accountants of Uganda (ICPAU)

Audit firms in Uganda are still producing poor audit reports that are tarnishing the image of local audit firms, a survey by the Institute Certified of Public Accountants of Uganda (ICPAU) on the quality of audit firms has shown.

To reverse the poor auditing situation, the ICPAU –which is the steering committee on audit, says the audit firms must put in measures that will enable them to conduct proper auditing and produce quality reports.

Presenting the committee’s survey results during the accountants’ Practitioners’ Forum the managing Partner of Jim Roberts & Associate, Mr Julius Tumuhimbise said the Institute’s Audit Quality Review team had made several revelations within the ongoing fourth audit quality review cycle during which a total of 181 audit firms were surveyed.

“We found out there is lack of partner input; limited appreciation of technical and documentation requirements; failure to devote sufficient time and attention to planning the …