I am pleased to learn that the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMAP) are regularly organizing the Best Corporate and Sustainability Report Awards Ceremony to encourage and promote best corporate practices in the country. These Awards are greatly valued and encourage companies to disclose maximum information in a timely and organized manner.
ICAP and ICMAP are playing a key role in advancing the accounting and auditing profession in Pakistan. In the present complex corporate world, the profession of accountancy has attained a key place in promoting accountability and transparency in the public and private undertakings and is regarded as one of the most important players in the economic development of a country.
I also wish to felicitate all the award winners. The conferment of awards on them is a recognition that the winners have made transparent disclosures in their Annual Accounts. The purpose of these Awards is to encourage publication of timely, accurate, well-presented and user friendly annual reports for the shareholders, stakeholders, employees and others who may have an interest in the performance and activities of the organizations in question and to honour them for their exemplary achievement in producing such reports.
The Best Corporate and Sustainability Report Awards competition has contributed to enhance the quality of reporting in Pakistan. The assessment criteria is regularly reviewed by the Evaluation Committee in order to stay in line with international best practices. I congratulate both ICAP and ICMA Pakistan for continuing with this tradition which is a demonstration of their commitment to promote corporate responsibility. I hope that Best Corporate & Sustainability Report Awards would help in further promoting a culture of transparency in disclosure of Annual Accounts and generate greater understanding between stakeholders and managements of companies.
In the end, I once again felicitate the winners of the Best Corporate & Sustainability Report Awards competition. I also wish ICMAP and ICAP greater success in all professional endeavors in the future.
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