By Silvia Nyambura
Stanbic Bank Uganda has emerged the winner of this year’s Financial Reporting (FiRe) awards beating 76 companies that submitted their reports for evaluation. The Silver award went to Lion Assurance while Centenary Bank scooped the bronze award. The event which is organized by the Institute of Public Certified Accountants of Uganda (ICPAU) saw 30 awards given in different categories. Stanbic Bank also emerged winner under the Banking Services category followed by DFCU and Post Bank. In the Insurance Services category Lion Assurance won while UAP emerged 1st runner up.
According to FiRe Awards Committee Chairman Frederick Kibbedi, the awards have grown in leaps and bounds since inception in 2011.
“76 organizations submitted their annual reports for evaluation, the highest number of entries ever. This is up by 19 percent from the 64 entries in 2013, 47 entries in 2012 and 37 entries in 2011. This indicates the financial reporting thirst that Uganda organizations have embraced as they wish to benchmark their reporting to international standards and best practices within their respective industries,