Its starting point is the recognition that bank regulators in developing countries such as Uganda are beset by powerful interests, lack of finance, inadequate legislation, and dubious accounting and auditing standards.
While opposition groups may agree that the central bank needs reforming, many are concerned that the government will try to tack on extra legislation such as measures relating to false accounting.
Auditors send professionalism packing and abdicate their public duty to shareholders when legislation threatens the lucrative business of being a public accounting firm.