Accountants warned against abandoning role

Accountants have been tasked to take the lead role in handling accounting matters.
A Global Advocate in the Association of Chartered Certified Accountants (ACCA) has told accountants to desist from letting politicians handle accounting matters.

Speaking during members’ Conference in Kampala recently, under the theme, “Human, Financial and Natural Capital: Enablers of sustainable development,” Mr Felix Mutati, ACCA global advocate, told accountants that their role should not be usurped by politicians.

He asked, that accountants take up front roles in politics through penetrating the public sector.
“Accountants need to stop being shy and penetrate the public sector, which is the biggest engine of public resource in any country. Do not let purely accounting issues be decided by economists or worse, politicians with no background in accounts,” he said.

He also questioned why accountants wait for the national Budget to be read and start giving post-mortem analysis about what could have been done better, instead of being involved in the budget creation process.

Rising youth unemployment, heightening inequalities in society, environmental degradation, trade conflicts between Western and Eastern superpowers impacting volume and pricing of African exports are some of the continent’s top challenges.
This is in light of China trade war which has been a key topic of interest world over since United States of America President Donald Trump took power.

Currently, trade relations in the East African Common Market are under turmoil with concerted efforts by all member states to clear them.

Inadequate foreign exchange reserves and the poor implementation culture in Africa in trade integration resolutions are other challenges.