By Aminah Nambasa
KAMPALA – ACCA Uganda and Deloitte officially unveiled the 6th edition of the Chief Financial Officer (CFO) Awards.
The much-anticipated awards will be held on October 27, 2022 under the theme “ESG: Reporting, Societal Impact and Environmental Transformation”.
The CFO Awards aim at recognizing the role that CFOs and finance functions play within organizations, highlighting the good business and finance practices while raising the profile of this strategic role.
The awards are part of the bigger CFO agenda which presents a platform to share best practice, drive awareness, inspire action and develop a community of finance leaders committed to creating more sustainable outcomes for their organizations.
This year, the awards categories include the most coveted; CFO of the year Award, Young CFO Award, Strategy Execution Award, Finance Transformation Award, Public Sector Award, SME Sector Award, Not for Profit Sector Award and the Sustainability Award.
To qualify: –
- One must be a professional accountant in good standing with their professional body, have been a CFO, Head of Finance or Finance Director (title may differ) for a minimum of three years and must be working and resident in Uganda.
- Self-nomination is also allowed.
- Past winners aren’t eligible to compete for the categories they previously won.
Nomination Process;
- Nominations start 30 August 2022 and will close 27 September 2022 via https://www.accaglobal.com/africa/en/cam/uganda-cfo-awards.html
- The general public is encouraged to nominate a CFO/Finance Director that meets the set criteria and requirements of a specific category.
- It’s important that nominations include statements and evidence of what the nominee has achieved to deserve winning the award.
- All winners shall have to demonstrate the seven core (must-have) capabilities required of finance professionals that meet the future needs and demands and play a leading role in sustainable businesses. Refer to the ACCA Report Professional accountants at the heart of sustainable organization and the Career Navigator Tool via https://careernavigator.accaglobal.com/gb/en.html
- Once the nominations are closed, an eminent panel of judges will shortlist and interview the top contenders for all the awards.
The capabilities in detail
Expertise – The functional responsibilities of your role; applying your technical expertise in order to benefit the organisation.
Ethics – Acting in accordance with fundamental principles of professional and personal ethical behaviour, ensuring the use of appropriate ethical frameworks and compliance with laws and regulations.
Digital – The proficient and ethical use of existing and emerging data technologies, capabilities, practices and strategies.
Sustainability – Applying integrated thinking and action to create, protect and communicate longterm value for the organization, environment and society.
Collaboration – The way in which you interact with others, engaging and communicating clearly with internal and external stakeholders, being inclusive and influencing impactfully.
Insight – How you think and operate on an individual level: accurately analyzing information, generating new ideas, making clear decisions, organizing work, focusing on priorities, and achieving timely results.
Drive – Your attitude and motivation: being determined and curious, motivating and developing yourself and others to achieve stretch goals, and acting with integrity.
The CFO Award 2022 Categories in detail
CFO of the Year
This award will go to an outstanding CFO or Head of Finance who has demonstrated financial leadership and outstanding performance over a number of years. The individual should have demonstrated great courage and ability to navigate the impacts of the COVID-19 pandemic on their organization while also painting a compelling picture of the future that inspires others to persevere. This CFO or Head of Finance leads by example and demonstrates leadership through their future focus and displays the seven vital capabilities of professional accountants: expertise, ethics, insight, sustainability, collaboration, digital, and drive.
Public Sector Award
This award will go to an outstanding CFO or Head of Finance in a government ministry, parastatal, agency or department who has demonstrated outstanding financial management and has demonstrated/displayed the seven vital capabilities of professional accountants: expertise, ethics, insight, sustainability, collaboration, digital and drive.
Not-for-Profit Award
This award will go to an outstanding CFO or Head of Finance currently making a vital contribution to the financial leadership of a not-for-profit organization and has demonstrated the seven vital capabilities of professional accountants: expertise, ethics, insight, sustainability, collaboration, digital and drive.
SME Award
This award will recognize a CFO or Head of Finance in a small and medium enterprise, who has demonstrated outstanding financial management and has contributed to the growth of the enterprise. Small and medium enterprises include all types of formal enterprises irrespective of their legal form (such as family enterprises, sole proprietorships or cooperatives), employing between 5 – 100 employees and total assets not exceeding UGX 360 million.
Young CFO Award
This award will recognize a rising star in the accounting profession, aged no more than 40 years, and who has demonstrated/displayed the seven vital capabilities of professional accountants: expertise, ethics, insight, sustainability, collaboration, digital and drive.
Finance Transformation
This award recognizes a CFO or Head of Finance who has championed transformative solutions in their finance function and has been successful in redefining the role of finance within their organization and has demonstrated/displayed the seven vital capabilities of professional accountants: expertise, ethics, insight, sustainability, collaboration, digital and drive.
Strategy Execution Award
This award recognizes a CFO or Head of Finance who has shown agility and resilience in dealing with significant disruptions and changes in the business environment, enabling the business to successfully adapt to new demands and challenges. This CFO or Head of Finance will have shown great leadership in creating the right (financial) conditions to execute the organization’s strategy and demonstrated/displayed the seven vital capabilities of professional accountants: expertise, ethics, insight, sustainability, collaboration, digital, and drive.
Sustainability Award
This award will recognize a CFO or Head of Finance who has demonstrated leadership in creating long-term value by integrating sustainability measures into strategies, standard processes and procedures as well as reporting on Environmental, Social, and Governance (ESG) impacts in their annual reports. He/she should have demonstrated/displayed the seven vital capabilities of professional accountants: expertise, ethics, insight, sustainability, collaboration, digital, and drive.
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