The Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost & Management Accountants of Pakistan (ICMAP) have been awarding the Best Corporate Report (BCR) Awards for the last fifteen years. This award has been instrumental in encouraging entities to follow transparency in preparing their annual reports according to the international best practices.
In 2011, yet another award namely, Best Sustainability Report Award was initiated with the aim to promote responsible reporting by entities covering economic, environment and social performance of the business. The objective is to make local business aware of the international best practices and to facilitate these businesses in obtaining investments by ethical investors.
The objective of the Awards is to encourage 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 organisations in question, and to recognise and honour those organisations for their exemplary achievement in producing such reports.
Annual reports are adjudged in accordance with the Criteria through a transparent evaluation process, where marking is done by staff of both Institutes, and the results are reviewed by the Joint Evaluation Committee (a sub-committee of the Joint Committee of ICAP and ICMAP) under the chairmanship of Mr Yacoob Suttar FCA, FCMA. The Criteria are regularly reviewed by the Committee in order to update in line with the international best practices. BCR awards are given in the following sectors:
Following companies received BCSR 2014 Awards last year under above mentioned sectors:
Following companies received BCSR 2014 Awards last year under above mentioned sectors:
BANKS
1 MCB BANK LIMITED
2 ALLIED BANK LIMITED
3 MEEZAN BANK
LIMITED
NON-BANKING FNANCIAL INSTITUTES (NBFIs)
1 FIRST HABIB MODARABA
2 EFU LIFE ASSURANCE LIMITED
3 EFU GENERAL INSURANCE LIMITED
TEXTILE
1 NISHAT MILLS LIMITED
2 KOHINOOR TEXTILE MILLS LIMITED
3 GUL AHMED TEXTILE MILLS LIMITED
CHEMICALS
1 FAUJI FERTILIZER COMPANY LIMITED
2 LOTTE CHEMICAL PAKISTAN LIMITED
3 ENGRO POLYMER & CHEMICALS LIMITED
4 FAUJI FERTILIZER BIN QASIM LIMITED
5 ICI PAKISTAN LIMITED
ENGINEERING
1 ATLAS HONDA LIMITED
2 AL-GHAZI TRACTORS LIMITED
3 CRESCENT STEEL AND ALLIED PRODUCTS LIMITED
4 INTERNATIONAL INDUSTRIES LIMITED
FUEL & ENERGY
1 PAKISTAN STATE OIL COMPANY LIMITED
2 OIL & GAS DEVELOPMENT COMPANY LIMITED
3 PAKISTAN PETROLEUM LIMITED
4 K-ELECTRIC LIMITED
5 ATTOCK PETROLEUM LIMITED
SUGAR & CEMENT
1 MAPLE LEAF CEMENT FACTORY LIMITED
2 CHERAT CEMENT COMPANY LIMITED
3 LUCKY CEMENT LIMITED
OTHERS
1 CHERAT PACKAGING LIMITED
2 ABBOTT LABORATORIES (PAKISTAN) LIMITED
3 GLAXOSMITHKLINE PAKISTAN LIMITED
4 CYAN LIMITED
5 RAFHAN MAIZE PRODUCTS COMPANY LIMITED
NON PROFIT ORGANISATIONS
1 THE CITIZENS FOUNDATION
BEST SUSTAINABILITY REPORT 2014 AWARDS
1 FAUJI FERTILIZER COMPANY LIMITED
2 CRESCENT STEEL AND ALLIED PRODUCTS LIMITED
3 ICI PAKISTAN LIMITED
4 ATTOCK REFINERY LIMITED
This year 152 companies submitted their reports for the competition as against 177 last year, the details of which are as follows:
Companies from amongst the BCSR winners are nominated for South Asian Federation of Accountants (SAFA) Best Presented Accounts (BPA) awards annual competition. For SAFA BPA 2014 fifteen companies were nominated from the winners of BCSR 2014. SAFA 2014 Award Ceremony was hosted by ICAP on January 30, last year at Lahore.
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SECTORS 2014 2015 +/(-)
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01 BANKS 12 12 -
02 NBFIs 26 20 (6)
03 CHEMICALS & PHARMACEUTICALS 18 18 -
04 FUEL & ENERGY 14 17 3
05 ENGINEERING & AUTOS 12 18 6
06 CEMENT & SUGAR 14 17 3
07 TEXTILE 28 17 (11)
08 MUTUAL FUNDS 7 1 (6)
09 NPOs 4 1 (3)
10 OTHERS 34 26 (8)
BEST SUSTAINABILITY REPORT 8 5 (3)
177 152
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1 BANKS 6 CEMENT & SUGAR
2 NBFIS (INCLUDING INSURANCE) 7 TEXTILE
3 CHEMICALS & PHARMACEUTICALS 8 MUTUAL FUNDS
4 FUEL & ENERGY 9 NON-PROFIT ORGANISATIONS
5 ENGINEERING & AUTOS 10 OTHERS
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Following Pakistani companies received SAFA 2014 Awards/Certificates:
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01 Crescent Steel and Allied Products Limited Winner
02 Fauji Fertilizer Company Limited Winner
03 K-Electric Limited Winner
04 MCB Bank Limited Winner
05 Al-Ghazi Tractors Limited 1st Runner up (Joint)
06 Allied Bank Limited 2nd Runner up (Joint)
07 Lucky Cement Limited 2nd Runner up (Joint)
08 Maple Leaf Cement Factory Limited Certificate of Merit
09 Rafhan Maize Products Company Limited Certificate of Merit
10 Cherat Cement Company Limited Certificate of Merit
11 EFU General Insurance Limited Certificate of Merit
12 EFU Life Assurance Limited Certificate of Merit
13 First Habib Modarba Certificate of Merit
14 Meezan Bank Limited Certificate of Merit
15 The Citizens Foundation Certificate of Merit
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Best Corporate Report Awards 2015
-- Winning Companies (Alphabetical Order)
-- Abbott Laboratories (Pakistan) Limited
-- Al-Ghazi Tractors Limited
-- Allied Bank Limited
-- Atlas Battery Limited
-- Atlas Honda Limited
-- Atlas Insurance Limited
-- Attock Petroleum Limited
-- Attock Refinery Limited
-- Avanceon Limited
-- Bank Alfalah Limited
-- Cherat Cement Company Limited
-- Cherat Packaging Limited
-- Crescent Steel and Allied Products Limited
-- Cyan Limited
-- EFU General Insurance Limited
-- EFU Life Assurance Limited
-- Engro Polymer And Chemicals Limited
-- Fauji Fertilizer Bin Qasim Limited
-- Fauji Fertilizer Company Limited
-- First Habib Modaraba
-- Gadoon Textile Mills Limited
-- Glaxosmithkline (Pakistan) Limited
-- Gul Ahmed Textile Mills Limited
-- Hub Power Company Limited
-- ICI Pakistan Limited
-- International Industries Limited
-- Jubilee General Insurance Limited
-- K-Electric Limited
-- Kohinoor Textile Mills Limited
-- Lotte Chemicals Pakistan Limited
-- Lucky Cement Limited
-- Maple Leaf Cement Factory Limited
-- Mari Petroleum Company Limited
-- MCB Bank Limited
-- Meezan Bank Limited
-- Mughal Iron And Steel Industries Ltd.
-- Nishat Mills Limited
-- Oil And Gas Development Company Ltd.
-- Pak Elektron Limited
-- Pakistan Petroleum Limited
-- Pakistan State Oil Company Limited
-- Rafhan Maize Products Co Limited
-- Thal Limited
-- The Citizens Foundation
Best Sustainability Report Awards 2015
-- Winning Companies (Alphabetical Order)
-- Atlas Honda Limited
-- Crescent Steel and Allied Products Limited
-- Fauji Fertilizer Company Limited
-- ICI Pakistan Limited
Joint Evaluation Committee
From ICAP
-- Yaqoob Suttar (Chairman)
-- Syed Fahim-Ul-Hasan
-- Hena Sadiq
-- Ahsan Ghaffar Mehanti
-- Naresh Kumar
-- Naveed Abdul Hameed
From ICMAP
-- Mohammad Iqbal Ghori
-- Anis Ur Rehman
-- Khawaja Ehrar Ul Hassan
-- Saghir Ul Hassan Khan
-- Waqar Ali Khan
-- Intisar Muhammad
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