ICAB awards 31 financial outfits for best presented annual report 2017
The Institute of Chartered Accountants of Bangladesh (ICAB) distributed awards to listed and non-listed 31 entities in 10 different categories including banks, financial services, insurance companies, manufacturing, ICT, non-governmental organisations (NGOs), public sector entities, agriculture, corporate governance and integrated reporting for their best presented annual reports 2017. 11 Entities also received Certificates of Merit and overall winner is IDLC Finance Limited.
ICAB organized the 18th ICAB National Award ceremony for Best Presented Annual Report 2017 at a glittering event at a city hotel on 24 December 2018. The Evaluation Criteria of the South Asian Federation of Accountants (SAFA) was followed in evaluating the annual reports. A 9-member Jury Board chaired by Md. Matiul Islam, country’s first finance secretary reviewed the recommended list of Award Winners as well as Merit Certificate Winners. The other eight members of the Jury Board were Former Advisors to Caretaker Govt. of Bangladesh, Prof. Wahiduddin Mahmud, Rokia Afzal Rahman, Rasheda K Chowdhury, former Bangladesh Bank Governor Dr. Atiur Rahman, former comptroller of auditor general of Bangladesh Ahmed Ataul Hakeem , Acting Editor of the Financial Express Shahiduzzaman Khan , former BSEC Chairman Faruq Ahmad Siddiqi and Distinguish Fellow of Center for Policy Dialogue(CPD) Prof. Mustafizur Rahman. ICAB has been holding this event since 2001 to inspire to prepare the annual reports through transparency.
Finance Minister Abul Maal Abdul Muhith, MP was present as Chief Guest. , Md. Mofizul Islam, Secretary, Ministry of Commerce, GoB, Abdur Rouf Talukder, Finance Secretary, Finance Division, Ministry of Finance, GoB, Md. Ashadul Islam, Secretary, Financial Institutions Division, Ministry of Finance, GoB, Mohammad Muslim Chowdhury, Comptroller and Auditor General of Bangladesh, GoB and C. Q. K. Mustaq Ahmed, Chairman, Financial Reporting Council (FRC) were present as Special Guests.
ICAB President Dewan Nurul Islam FCA delivered the welcome speech. Muhammed Farhad Hussain FCA, Chairman, Review Committee for Published Accounts & Reports also spoke on the occasion. MDs, DMDs & CFOs from the winning companies were present.
The three best annual reports selected under each award category will also be nominated by ICAB to compete in the SAFA forum next year in recognition of their excellence in financial disclosure.
In Banking Sector (Private) category Bank Asia Limited secured first prize, BRAC Bank Limited became second prize winner and Dutch Bangla Bank Limited third prize winner.
In category of Financial Service category IDLC Finance Limited became first prize winner, Lanka Bangla Finance Ltd became second and IPDC Finance Limited became third prize winner.
In Manufacturing British American Tobacco, Bangladesh won the first prize, GSK Bangladesh won second prize and Premier cement & ORION Pharma became joint third prize winners.
Green Delta Insurance Company Limited became first prize winner, Prime Insurance Ltd second and Reliance Insurance Ltd third prize winners in Insurance category.
BRAC was adjudged with first prize winner, Sajida Foundation and Uddipan became joint second prize winner and Buro Bangladesh won the third prize winner in Non-Governmental Organizations (NGOs) category.
Only Grameenphone Limited was the first prize winner in Category of Communication and Information Technology. In Public Sector Entities category, Investment Corporation of Bangladesh became the first prize winner, Bangladesh Infrastructure Finance Fund Limited and Infrastructure Development Company Limited (IDCOL) second and third prize winner respectively.
Only Golden Harvest Agro Industries Limited was the first prize winner in category of Agriculture.
In Corporate Governance disclosures, IDLC was the joint first winner, Lanka Bangla Finance Ltd was second and British American Tobacco Bangladesh, Bank Asia Ltd & Green Delta Insurance company Ltd were joint third prize winners.
In the category of Integrated Reporting IDLC Finance Limited received first prize, BRAC second and Bank Asia Ltd & Islami Bank Ltd were jointly awarded with the third prize.
Besides, Mutual Trust Bank Ltd, Islami Bank Bangladesh Ltd, Prime Bank Ltd, RAK, BSRM
Steels Ltd, Marico Bangladesh Ltd, Union Capital, Prime Bank Ltd., Mercantile Bank Ltd, Prime Bank Ltd. and Mutual Trust Bank Ltd. got Certificates of Merit in different categories.