Musasizi Tasks Accountants to Strengthen Fiscal Discipline

What the report says

Finance Minister Henry Musasizi has called on accountants in Uganda to play a stronger role in promoting fiscal discipline, accountability and evidence-based decision-making. According to Nile Post, he made the remarks while speaking at the 31st Annual Seminar of the Institute of Certified Public Accountants of Uganda (ICPAU) at Imperial Resort Beach Hotel in Entebbe, under the theme “Transforming Institutions and Lives for Sustainable Growth.”

Musasizi said the profession should do more than record and report financial transactions. He argued that accountants can help government and institutions use financial information to guide planning, track revenue and spending, protect public assets and evaluate whether public funds are delivering development results. He also said reliable data is important for avoiding costly policy and investment mistakes.

The minister urged accountants to use timely financial information to monitor cash flow, spending limits and government commitments, warning that this can help prevent domestic arrears and large fiscal deficits. He also encouraged the adoption of newer tools such as digital financial management systems, blockchain and artificial intelligence, saying these technologies are changing how financial data is produced and used.

ICPAU President Timothy Ediomu also addressed the meeting, urging accountants to adapt to a changing business environment, build relevant skills, uphold integrity and offer trusted strategic advice. The comments reflect broader efforts in public finance management to improve transparency and strengthen oversight of public resources.