It is a pleasure to know that the Institute of Chartered Accounts of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMAP) continue the tradition to acknowledge the significance of good corporate reports, and foster competition by honouring the Best Corporate Report Awards.
These awards would encourage appropriate and timely disclosure of information by companies and facilitate informed investment decisions. The Institute; ICAP and ICMAP are no doubt playing important role in the economic development and progress of Pakistan through their support to the government in implementing globally accepted best practices and international standards of accounting and auditing.
The government is making all out efforts to create conducive business environment by reducing the cost of doing business and removal of irritants at various functional leaves in the country. Against the backdrop of government emphasis on corporate governance, disclosure and the transparency in financial reporting, the international accounting and auditing standards are regarded as an effective tool that strengthen organisation to achieve their strategic goals based on professional values of accountability, innovation, planning and internal controls.
I would like to express my felicitations to the companies that competed for the awards and congratulations to the achievers of "Best Corporate Report Awards" with the hope that the efforts will continue to strengthen the constructive role to the development of disclosure standards in Pakistan.