Message from Chairman Joint Committee ICAP-ICMA Pakistan & Vice President ICMA Pakistan

It is indeed a pleasure that the 'Best Corporate and Sustainability Report Awards 2016' is being organized jointly by Institute of Cost and Management Accountants Pakistan and Institute of Chartered Accountants Pakistan on 25th August 2017. It is pertinent to note that over the years, these Awards have become a symbol of pride and honor for the corporate sector in Pakistan and have been quite instrumental in encouraging businesses to follow transparency in preparing their annual reports according to international best practices.
The accountancy profession occupies key-place in the concept of accountability and transparency in the public and private undertakings and hence this profession plays a vital role in the economic development. Since the origin of Best Corporate Report Awards in Pakistan, the quality of disclosures in the annual reports has reached new heights. The quality of annual reports from Pakistan has been duly acknowledged by South Asian Federation of Accountants, which also holds similar awards every year.
Considering the present financial challenges, there is a need that both the Accounting bodies ie ICMA Pakistan and ICAP must play proactive and effective role not only creating awareness but also implementing the GRI guidelines in the public and private sector in Pakistan. This is quite important if our country needs to move towards sustainable economic development. I am delighted that both the Institutes had already initiated a 'Sustainability Report Award' in 2011 which is a step in this direction. Needless to say that robust sustainable reporting system provides benefits internally and externally to all the reporting organizations.
The corporate sector of Pakistan expects the Management Accountants to play a vital role in formulation and effective implementation of corporate strategy and to ensure optimum utilization of resources in order to be competitive both in terms of price and quality for cross-border trade. ICMA Pakistan is fully alive to these challenges & expectations and striving hard to produce professionals, who would assume the role of strategic managers in future ahead. It is aggressively moving forward to enhance its capacity with respect to quality education, infrastructure development and various other productive services to the economy.
I compliment and appreciate all those Pakistani companies who have participated in the BCSR Awards competition during this year and especially congratulate those companies which are receiving the awards today. I also acknowledge the contribution made by all the members of Joint Committee of ICAP and ICMA Pakistan as well as the members of the Joint Evaluation Committee for organizing the Best Corporate and Sustainability Reports Awards (BCSRA).