Best presented Annual Reports honoured with ICAB

Finance Minister AMA Muhith as chief guest handed over the 13th ICAB National Awards for Best Presented Annual Reports 2012 among the winners at a ceremony at Sonargaon Hotel in Dhaka on Saturday. The Institute of Chartered Accountants of Bangladesh gave the awards to banks, insurance companies, non-government organisations and public sector entities for publishing transparent reports and maintaining good corporate governance.

DSC_0178Commerce Secretary Mahbub Ahmed was also present on the occasion as special guest. Md Abdus Salam FCA, President of the ICAB, and Abbas Uddin Khan, Chairman of the Review Committee for Published Accounts & Reports of the ICAB, also spoke on the occasion.

Rupali Bank Ltd got the first prize in category of Public Sector Banking Institutions while in Private Sector Banks (including Co-operative Banks), Islami Bank Bangladesh Ltd got the first prize; and Prime Bank Ltd and Dutch Bangla Bank Ltd emerged as second and third winners.

IDLC Finance Ltd topped the non-bank financial services sector while Union Capital Ltd became second and Prime Finance & Investment Ltd the third.

Reliance Insurance Ltd for second time became first and Green Delta Insurance company Ltd second and Prime Insurance Co. Ltd the third in the insurance category.

Among the manufacturing entities, RAK Ceramics (Bangladesh) Ltd was awarded the top prize while   GlaxoSmithKline Bangladesh Ltd came out as second and BSRM as third.

In the communication and information technology sector, Grameenphone won the top award.

Uddipan grabbed the top position,   BRAC second and Buro Bangladesh third in the NGO category.

The SAARC anniversary award for corporate governance went to Islami Bank Bangladesh,  IDLC Finance and Prime Bank Limited as first, second and third winners respectively.

Investment Corporation of Bangladesh received the first prize in the public sector entities.

None were able to make room in award list in the Service and Agriculture sectors.

As chief guest the finance minister said that the area of accounting and reporting is important as it is involved with money. He said ICAB has been playing a commendable role in the country’s economy. He further said ICAB meticulously evaluate the performance of all Listed Companies in the Financial, Non-financial, Manufacturing, Communication & Information Technology Sectors, Non-governmental Organizations and Public Sector Entities.

ICAB President Md. Abdus Salam FCA said, the Institute has been giving the awards since 2001 in recognition of best practices in corporate governance and the best presented annual reports. ICAB directly encourages the corporate entities for achieving excellence in corporate performance through this award.

Abbas Uddin Khan, Chairman of the Review Committee for Published Accounts & Reports of the ICAB said that the committee diligently evaluated and assessed the Annual Reports of 2012 of the organizations objectively with the disclosures, information particularly within the framework of International Accounting Standards and IFRS as applied by the entities.

He said the best Annual Reports manifested business operation results of the entities vision, mission, socio-economic achievements and corporate governance concerning compliance of applicable rules, regulations maintaining high level of professional and business ethics.

Distinguished personalities, ICAB’s Council Members, Past Presidents and CA professionals were present in the occasion.


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