22 entities receive ICAB award for best annual reports

The Institute of Chartered Accountants of Bangladesh (ICAB) has provided national award to 22 listed and non-listed entities in 13 different sectors for their best presented annual reports, integrated reporting and corporate governance disclosures-2023.

The sectors include Private Sector Banks, Financial Services Sector, Manufacturing, Power and Energy sector, Diversified holdings, Insurance (General & Life), NGOs/NPOs, Communication and Information Technology, Public Sector, Service Sectors, Corporate Governance and Integrated Reporting.

Apart from recognizing the gold, silver and bronze positions in each sector, the “Merit” was conferred on the eight entities on achieving minimum threshold scores.

Bank Asia PLC became the over-all winner. An 11-member Jury Board recommended the list of the winners of ICAB National Award.

During the year, ICAB-Review Committee for Published Accounts & Reports (RCPAR) received annual reports from 76 entities.

Finance and Commerce Adviser Dr. Salehuddin Ahmed handed over the awards to the winners as the chief guest at an event held at a city hotel yesterday evening.

Finance Division Secretary Dr. Md. Khairuzzaman Mozumder, Commerce Secretary Md. Selim Uddin and Internal Resources Division Secretary of Finance Ministry and Chairman of National Board of Revenue (NBR) Md. Abdur Rahman Khan were present as special guests, said a press release today.

Distinguished guests from different ministries, trade bodies, regulators, stakeholders and award winning entities attended the ceremony.

ICAB President Mohammed Forkan Uddin delivered the address of welcome while the Chairman of Review Committee for Published Accounts & Reports Mohammed Humayun Kabir spoke on the award evaluation process.

From the winning companies, three best annual reports under each award sector will be nominated by ICAB for the SAFA best presented Annual Reports, Integrated Reporting, and Corporate Governance Disclosures- competition among South Asian nations in recognition of their excellence in financial disclosures.

Winners of ICAB BPA awards are: In Private Sector Banks, Bank Asia PLC and Shahjalal Islami Bank PLC became joint gold award winners while City Bank PLC became silver award winner and BRAC Bank PLC and United Commercial Bank PLC became joint bronze award winners.

In the Financial Services sector, IPDC Finance Limited became the gold award winner, and IDLC Finance PLC became the bronze award winner.

In Manufacturing sector, British American Tobacco Bangladesh Company Limited won the gold award, Walton Hi-Tech Industries PLC won silver award and Reckitt Benckiser (Bangladesh) PLC became bronze award winner.

In Power and Energy sector, United Power Generation & Distribution Company Ltd. became the silver award winner. In Diversified Holdings sector, Advanced Chemical Industries Limited/ACI Limited won the bronze award.

In Insurance (General) sector, Green Delta Insurance Company Limited won gold award, Reliance Insurance Limited won silver award and City General Insurance Company Limited on bronze award.

In Insurance (Life) sector, National Life Insurance Company Limited became the bronze award winner.

In NGOs/NPOs sectors, SAJIDA Foundation won the silver award while Shakti Foundation for Disadvantaged Women won bronze award.

In Communication & IT sector, Robi Axiata Limited became the gold award winner, Grameenphone Ltd. silver award winner and Genex Infosys Limited became the bronze award winner.

In Service Sector, Unique Hotel & Resorts PLC won the bronze award. In Corporate Governance, Bank Asia PLC became the gold award winner, Shahjalal Islami Bank PLC became the silver award winner and BRAC Bank PLC won the bronze award.

In Integrated Reporting, Bank Asia PLC and Shahjalal Islami Bank PLC became joint gold award winners, IDLC Finance PLC. won the silver award and BRAC Bank PLC won the bronze award.

The awards for the Infrastructure and Construction, and Agriculture categories could not be considered because the participating entities scored below the threshold mark. (BSS)