The Head of Finance WSACCO Maj Julius Katanaka made the Wazalendo Savings and Credit Cooperative Society proud after winning 02 awards in the year 2021.
The awards were FiRe Awards Cooperatives category and the CFO 2021 sustainability Award.
FiRe (Financial Reporting) Awards is an annual event through which excellence in financial reporting is recognized and rewarded. They were held on the 10th of November 2021 at Protea Skyz Hotel Naguru.
The awards are organized and held annually by the Institute of Certified Public Accountants of Uganda (ICPAU) in partnership with Capital Markets authority, The Uganda Securities Exchange (CMA) and the New Vision media group.
Organizations in the private, public and non-profit sectors participate by submitting their Annual Reports for the year.
The best performers are awarded based on their level of compliance with International Financial Reporting Standards.
According to Maj Katanaka, the FiRe awards test your ability and skill in integrated reporting. This reporting goes beyond numbers and is also about communicating about the strategy, governance, performance and the prospects in the operating environment in order to create value in the short, medium and long-term.
The CFO Sustainability (The Chief Finance Officers) award seeks to illuminate the essential role that the finance function plays in driving integrated thinking in decision-making and in building sustainable business models and business sustainability.
These awards are organized by the Association of Chartered Certified Accountants (ACCA) and Deloitte Uganda.
The annual awards ceremony was held on the 09th of December 2021 at Serena Hotel Kampala under the theme “Finance Leaders as Drivers of Sustainability”.
All these competitions were aimed at evaluating the Head of Finance on how he has been instrumental in driving the direction of the business and his contribution to its success.
Over 180 CFOs and Finance Directors of Organizations in the private, public and non-profit sectors were nominated to compete for the awards by showcasing their contribution towards business sustainability to a panel of Judges.
When contacted,The Head Finance WSACCO said that such competitions have enabled him to exhibit his ACCA qualification that trained him beyond accurate numbers, but to also be a strategic leader in the organization.
“The wins were a result of my passion to learn and compete with the best in the industry. This attitude of driving for a bigger purpose, creating success, building teamwork, inspiring and enabling things that have not yet been done, motivated me to compete for both CFO and FiRe Awards” said Katanaka.
Maj Katanaka noted that this win is evidence of the President’s drive of professionalizing the Army, adding that, it was unheard of where a UPDF officer could comfortably compete in the corporate world and win a professional national award.
’’This is a very big achievement for the UPDF and the country as a whole, my appreciation goes to the UPDF leadership and the entire membership for creating an enabling environment in the names of WSACCO that has enabled me to practice my profession in service to my country and given me a platform to compete for these awards.
He concluded by calling upon other Ministry of Defence and Veteran Affairs parastatals and other Cooperative societies in the country to always embrace these competitions if they are to overcome the challenges of transparency, accountability and professionalism which are WSACCO’s core values.