I am pleased to acknowledge the role of the Best Corporate & Sustainability Report Awards (BCSRA), jointly organized by the Institute of Cost and Management Accountants of Pakistan (ICMA) and the Institute of Chartered Accountants of Pakistan (ICAP), in fostering a culture of transparency and robust corporate disclosures within the business community.
As a progressive regulator overlooking a vast mandate, covering capital markets, non-banking finance companies, insurance and the corporate sector; our focus has remained on building a robust, inclusive and sustainable ecosystem designed to enhance the efficiency, competitiveness, and accessibility of the financial sector.
It is with the same spirit that the regulatory reforms by SECP remain focused on strengthening transparency and promote good governance in regulated sectors to foster trust of investors. It is through the lens of full and honest disclosure that stakeholders-investors, regulators, and the public-are able to make informed decisions.
I am glad to note that ICAP and ICMA have consistently endeavored to enhance the criteria for Best Sustainability Report (BSR) Award since its launch in 2011, that include highlighting the increasing significance of non-financial reporting, especially in areas such as environmental impact, corporate responsibility and social governance.
Given the global development on harmonized sustainability reporting, particularly international sustainability standards, it is vital that Pakistani companies align their reporting practices with international best practices.
As we celebrate the BCSRA 2023 ceremony, I would like to commend the companies that have risen to the challenge of providing clear, comprehensive, and impactful reports, setting a benchmark for others to strive for excellence in corporate reporting.
I urge all companies to continue evolving their reporting practices and contribute to strengthening transparency and accountability for the development of a progressive corporate landscape in Pakistan.
I extend my best wishes to ICMA, ICAP, and all the participants for their unwavering commitment to excellence in corporate reporting. Together, we can continue to build a sustainable and resilient future for Pakistan.
Mr. Akif Saeed, (Chairman, SECP)
Copyright Business Recorder, 2024