Uganda flag Uganda: Entorn econòmic

Comptabilitat a Uganda

Accounting Rules

Tax Year
The normal fiscal year goes from July to June, however a company may adopt a different period with the consent of the commissioner.
Accounting Standards
The corporate accounting, auditing, and financial reporting requirements in Uganda are regulated by the Companies Act of 2012 and the Accountants Act of 2013. The Companies Act of 2012 specifies that all entities are required to prepare financial statements, and it describes disclosure and presentation requirements for the balance sheet and financial statements. Private sector entities and publicly accountable entities are required to apply IFRS in the preparation of their financial statements.
Accounting Regulation Bodies
Institute of Certified Public Accountants of Uganda
Accounting Reports
Every company shall cause to be kept in the English language proper books of account. The directors of a company shall at a date not later than eighteen months after the incorporation of the company and subsequently, once at least in every calendar year, lay before the company in general meeting a profit and loss account. Every balance sheet of a company shall give a true and fair view of the state of affairs of the company as at the end of its financial year and every profit and loss account of a company shall give a true and fair view of the profit or loss of the company for the financial year.
Publication Requirements
The Capital Markets Authority Act and Uganda Securities Exchange Listing Rules require listed entities to file audited annual financial statements to the Uganda Securities Exchange within 4 months after the end of each financial year and at least 21 days before the date of the annual general meeting.
The Companies Act of 2012 requires public companies to file audited annual financial statements with the Registrar of Companies within 42 days after the annual general meeting, while the Financial Institutions Act requires financial institutions to submit to the Central Bank of Uganda audited annual financial statements approved by their Board of Directors within 3 months after the end of its financial year.
Professional Accountancy Bodies
Institute of Certified Public Accountants of Uganda
Certification and Auditing
Under the Companies Act 2012, all entities are required to have their financial statements audited. The Institute of Certified Public Accountants of Uganda (ICPAU) mandates the use of ISA for the performance of all financial statement audits, which must be conducted by ICPAU members.
Accounting News
IFAC website

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Actualitzacions: April 2022

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