Karachi: The Institute of Chartered Accountants of Pakistan-ICAP and the Institute of Cost & Management Accountants of Pakistan (ICMA) are going to organize the Best Corporate Report (BCR) and the Best Sustainability Report (BSR) Awards for the calendar year 2016 on this Friday – August 25th, 2017 in Karachi. 150 entities from Banking, NBFIS- Including Insurance, Chemicals & Pharmaceuticals, Fuel & Energy, Engineering & Autos, Cement & Sugar, Textile, Non-Profit Organisation and others sectors are participating in these awards. This information was disclosed by Yacoob Suttar, President ICAP, at a media briefing.
Yaqoob said the objective of these Awards is to encourage companies for the publication of timely, accurate, informative and well- presented annual reports for shareholders, investors, regulators employees and stakeholders who may have an interest in the performance and activities of the organizations in questions, and to recognize and honor those organizations for their exemplary achievements in producing such reports.
Fauji Fertilizer Company Limited was the overall first winner of the BCR Awards last year for their Annual Reports 2015.
President ICAP further said the Best Corporate Report (BCR) Awards were initiated in 2000 to encourage entities to follow transparency in preparing their annual reports according to the international best practices, while the Best Sustainability Report (BSR) Awards started in 2011 to promote responsible reporting by organizations covering economic, environment and social performance of the business.
Companies from among the BCSR winners are nominated for South Asian Federation of Accountants (SAFA) Best Presented Accounts (BPA) awards annual competition. Last year, SAFA awards were held in Dhaka, Bangladesh.