ICAB awards 28 financial outfits for best annual reports

This year 28 financial outfits have won the 17th ICAB National Award under different categories for their best presented annual reports of 2016, reports UNB.

The Institute of Chartered Accountants of Bangladesh (ICAB) on Saturday announced names of the winners under 13 different categories including banks, financial services, insurance companies, manufacturing, ICT, non-governmental organisations (NGOs), public sector entities, agriculture, service sector, corporate governance, integrated reporting and diversified holdings.

The awards were announced and distributed among the winners at the ‘17th ICAB National Award ceremony for Best Presented Annual Reports 2016’ organised at the Pan Pacific Sonargaon Hotel in the capital.

Besides, eight entities received Certificates of Merit at the glittering event. ICAB has been holding this event since 2001.

This year ICAB introduced a new category ‘Excellence in diversified Holdings. The Evaluation Criteria of the South Asian Federation of Accountants (SAFA) was followed in evaluating the annual reports.

A six-member jury board chaired by Md Matiul Islam reviewed the recommended list of award winners as well as merit certificate winners.

The other jury board members were former caretaker government advisers Prof Wahiduddin Mahmud and Rokia Afzal Rahman, former Bangladesh Bank Governor Dr Mohammed Farashuddin, Editor of the Financial Express AHM Moazzem Hossain and former chairman of Bangladesh Securities & Exchange Commission (BSEC) Faruq Ahmad Siddiqi.

Finance Minister AMA Muhith was present as the chief guest at the event while Commerce Minister Tofail Ahmed as the special guest.

Chairman of Financial Reporting Council (FRC) Chairman CQK Mustaq Ahmed, Comptroller and Auditor General of Bangladesh Masud Ahmed and BSEC Chairman Prof Dr M Khairul Hossain, ICAB President Adeeb Hossain Khan FCA, Chairman of Review Committee for Published Accounts and Reports Parveen Mahmud FCA and Chairman of the Jury Board Md Matiul Islam FCA spoke on the occasion.

The three best annual reports selected under each award category will also be nominated by ICAB to compete in the SAFA forum in recognition of their excellence in financial disclosure.

In the last year, Bangladesh secured 10 awards including 1st position in five categories—Private Banks, Financial Services, Public Sector Entities, NGOs and Corporate Governance – among the SAFA member countries.

In Banking Sector (Private) category, BRAC Bank Limited secured first prize, while Southeast Bank Limited and United Commercial Bank Limited jointly won the second prize, Prime Bank Limited the third prize.

Only Janata Bank Limited became first prize winner in Banking Sector (Public) category.

In category of Non-Banking Financial Institutions, Lanka Bangla Finance Limited and IDLC Finance Limited were jointly first prize winners while IPDC Finance Limited was second and Union Capital Limited third.

Views: 42