“High-quality, transparent financial reporting is fundamental to building trust in the capital markets and to making investment decisions.”The Institute of Chartered Accountants of...
“High-quality, transparent financial reporting is fundamental to building trust in the capital markets and to making investment decisions.”
The Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountant of Pakistan (ICMAP) organized Best Corporate and Sustainability Report 2018 Awards at a local hotel on 20th August 2019. More than 40 awards were presented to best performer companies for Good Reporting.
Chairman Pakistan Center for Philanthropy, Mr. Zaffar A. Khan, Acting Managing Director of Pakistan Stock Exchange Limited, Mr. Muhammad Rafique Umer, CEO, Cherat Packaging Limited, Mr. Amer Faruque, and CEO Mutual Funds Association of Pakistan Ms. Mashmooma Zehra Majeed, were the Guests of Honor on the occasion.
President ICAP Mr Jafar Husain in his speech said that high quality financial information is important because it influences capital providers and other stakeholders in making informed decisions. He said that information in the annual reports regarding transparency and governance, increases levels of trust and confidence between companies and their shareholders and other stakeholders. He acknowledged that this competition has brought tremendous improvement in the annual reports of the companies over the period.
Master of Ceremony Ahmad Saeed quoted that “Life as we know it, with all its ups and downs, will soon be over. We will give an accounting to ALLAH of how we have lived.”
Mr. Zia ul Mustafa, President ICMA Pakistan while speaking on the occasion said that BCSR Awards are considered a symbol of pride and honor for the corporate sector. The purpose is to recognize their efforts in timely and accurate publication of financial statements in line with the global standards and benchmarks. Since its inception in 2000, these Awards have developed a healthy competition among the listed companies and improved their level of compliance with financial reporting standards and code of corporate governance. He gave credit of all these positive developments to the two professional accounting bodies i.e. ICMA Pakistan and CA Pakistan who have all along been working together in this direction.***