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) have maintained the tradition of giving Best Corporate and Sustainability Report Awards.
Being a professional body of chartered accounts, ICAP is playing a key role in promoting accounting and auditing profession in Pakistan. The services rendered by ICAP in standard setting, quality control and investigation in the profession of accounting and auditing are commendable and ICAP has contributed in promoting corporate governance.
Similarly, the ICMA Pakistan has created a niche for itself in imparting professional education of high standard. The management accountants produced by ICMA Pakistan are effectively meeting the requirements of the industry.
It is very encouraging to note that both the ICAP and the ICMAP are jointly encouraging the companies to disclose maximum information in a timely and organized manner by giving Best Corporate and Sustainability Report Awards. In the present complex corporate world, the profession of accountancy has attained a key place in accountability and transparency in the public and private undertakings. This profession is regarded as one of the most important players in the economic development of a country.
However, it must be emphasised that the profession of accountancy still has room to pursue higher levels of excellence, if it has to acquire and retain its key role in identifying problems, assessing their impact, developing solutions and effectively managing changes that are expected to come its way in times ahead. I would also like to congratulate the winners of the awards and hope that they will continue to achieve excellence in corporate reporting in future.