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Clean reporting wins laurels for companies, organisations

ICAB awards 31 entities


FE Desk | November 26, 2017 12:00:00


Finance minister AMA Muhith poses with the recipients of the 'ICAB National Award for Best Presented Annual Reports-2016' at a ceremony on Saturday in Dhaka. — FE Photo

The Institute of Chartered Accountants of Bangladesh (ICAB) gave away national awards to listed and non-listed 28 entities in 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 for their best-presented annual reports 2016.

This year, the ICAB introduced a new category 'Excellence in diversified Holdings. A total of 31 entities won the awards and 8 received certificates of merit.

The institute organised the 17th ICAB National Award ceremony for the best-presented Annual Reports 2016 at an event at the Pan Pacific Sonargaon Hotel on Saturday. The evaluation criteria of the South Asian Federation of Accountants (SAFA) were followed in evaluating the annual reports. The ICAB has been holding this event since 2001.

A six-member jury board chaired by Md. Matiul Islam reviewed the recommended list of award winners as well as merit certificate winners. The four members of the jury board were former advisors to Caretaker Government, Prof. Wahiduddin Mahmud and Rokia Afzal Rahman, former Bangladesh Bank Governor Dr. Mohammed Farashuddin, Editor of the Financial Express A.H.M. Moazzem Hossain and former BSEC Chairman Faruq Ahmad Siddiqi.

Finance Minister AMA Muhith was present as the Chief Guest, while Commerce Minister Tofail Ahmed, was present on the occasion as the Special Guest. Chairman of Financial Reporting Council (FRC) Chairman CQK Mustaq Ahmed, Comptroller and Auditor General of Bangladesh Masud Ahmed and Bangladesh Securities & Exchange Commission Chairman Prof. Dr. M Khairul Hossain were present as the guests of honour. ICAB President Adeeb Hossain Khan FCA, Chairman of Review Committee for Published Accounts & Reports Parveen Mahmud FCA and Chairman of the Jury Board, Review Committee for Published Accounts & Reports 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. Last year, Bangladesh secured the 1st position in five categories: Private Banks, Financial Services, Public Sector Entities, NGOs and Corporate Governance among SAFA countries securing 10 awards.

In the Banking Sector (Private) category, BRAC Bank Limited secured the first prize, Southeast Bank Limited and United Commercial Bank Limited became Joint Second prize winner, and Prime Bank Limited the third prize winner.

Janata Bank Limited became the first prize winner in the Banking Sector (Public) category. In the category of Non-Banking Financial Institutions (NBFI), Lanka Bangla Finance Limited and IDLC Finance Limited were the joint first prize winners, while IPDC Finance Limited and Union Capital Limited were the second and the third respectively.

In manufacturing, RAK Ceramics (Bangladesh) Limited and British American Tobacco BD Company Limited became joint first prize winners, Orion Pharma Limited was second and GlaxoSmithKline Bangladesh Limited third.

Prime Insurance Company Limited became the first prize winner, Green Delta Insurance Company Limited became the second and Reliance Insurance Limited the third prize winner in Insurance category.

BRAC secured the first prize, Sajida Foundation second and Uddipan third prize winner in Non-Governmental Organisation (NGO) category.

Grameenphone Limited was the first winner in Category of Communication and Information Technology. In Public Sector Entities category, Investment Corporation of Bangladesh became the first prize winner, Infrastructure Development Company Limited (IDCOL) the second and Bangladesh Infrastructure Finance Fund Limited the third prize winner.

Unique Hotel & Resorts Limited was the first prize winner in Category of Service Sector, while Golden Harvest Agro Industries Limited was the first prize winner in the category of Agriculture.

In Corporate Governance disclosures, Southeast Bank Limited got the first prize, while Islami Bank Bangladesh Limited received the second and Bank Asia Limited the third prize.

In the category of Integrated Reporting, IDLC Finance Limited received the first, Green Delta Insurance Company Limited second and United Commercial Bank Limited was awarded the third prize.


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