The Association of Chattered Certified Accountants has said that Godfrey Kazinda, the interdicted Principal Accountant in the Office of the Prime Minister (OPM), could be deregistered if he loses his case currently before court.
Kazinda and a few other accountants have over the past months been at the centre of scrutiny both from authorities and the public over their alleged involvement in the mismanagement of over 50 billion shillings in the OPM.
While prosecution is yet to determine his fate over charges of forgery, abuse of office, and making documents without authority, other problems, professionally related, appear lined waiting to follow.
The Association of Chattered Certified Accountants (ACCA) has indicated that it would also subject Kazinda to a disciplinary action once prosecution determines his fate.
A reliable source disclosed to Uganda Radio Network – URN – on Tuesday that the international association of accountants was closely following the prosecution to determine what action to take. It’s understood that a guilty verdict from court would also mark an end for the suspects’ career in accounting. Kazinda has been a member of the Association but his membership is currently in an inactive status following his failure to comply with subscription for Professional Ethics Module, a continuing assessment for accountants.
Beatrice Isagayita, the head of the ACCA Uganda National Office confirmed to URN that no decision has yet been taken over Kazinda’s professional conduct pending the ruling of the court. She said there were also other professional accountants facing similar cases of alleged professional misconduct whose fate would be decided following the outcome of the prosecution process.
The accountancy profession and practise in Uganda became the subject of intense scrutiny and interest from the public after many accountants in senior government positions were accused of stealing public funds they are meant to administer.
And although the Institute of Certified Public Accountants of Uganda (ICPAU), a legal body mandated to regulate professional accounting and ethical standards in Uganda exists, most of the accountants are not subscribers. Derick Nkajja, ICPAU executive director, told URN that they are looking forward to a new Accountants law, which is awaiting the president’s assent to enforce professional standards.
He said the present law does not make it mandatory for accountants to subscribe to the Institute hindering attempts to promote ethical conduct; a situation he said has been addressed in the upcoming law.