Finance Minister Henry Musasizi has urged accountants to strengthen fiscal discipline and accountability in the management of public resources, saying their profession is critical to Uganda's economic development.

Musasizi said accountants should move beyond recording and reporting financial transactions and instead provide evidence and analysis to guide government and institutional decision-making.

"Evidence-based decision making is fundamental to accelerating economic development, promoting sustainable business growth and avoiding costly policy and investment mistakes," Musasizi said.

He was speaking at the 31st Annual Seminar of the Institute of Certified Public Accountants of Uganda (ICPAU) at Imperial Resort Beach Hotel in Entebbe, held under the theme, "Transforming Institutions and Lives for Sustainable Growth."

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Musasizi said reliable financial information enables the government to track revenue and expenditure, safeguard public assets, manage liabilities and assess whether public funds are achieving their intended development outcomes.

He said accountants have a role to play across the entire budget cycle, including planning and preparation, execution and control, as well as accountability and reporting.

The minister also tasked accountants with using real-time financial information to monitor cash flows, spending limits and government commitments to help prevent the accumulation of domestic arrears and excessive fiscal deficits.

He urged the profession to embrace emerging technologies, including digital financial management systems, blockchain and artificial intelligence, which he said are changing how financial information is generated, analysed and used.

ICPAU President CPA Timothy Ediomu urged accountants to adapt to the changing business environment by developing relevant skills, maintaining integrity and providing trusted strategic advice.