I am pleased to know that the Institute of Chartered Accountants of Pakistan and the Institute of Cost and Management Accountants of Pakistan are regularly organizing Best Corporate & Sustainability Report Awards. These awards are greatly valued and are encouraging companies to disclose maximum information in a timely organized manner.
The accountancy profession has a great deal to contribute to, and a key role to play in, enhancing organisational reporting. The profession has a long history of involvement in a number of key areas eg, developing and improving financial reporting processes and controls, and identifying, measuring, and reporting key financial and other information that are important to the development and implementation of organisational reporting frameworks that go beyond traditional financial reporting.
The Best Corporate & Sustainability Report (BCSR) Awards is an annual competition organized jointly by the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost & Management Accountants of Pakistan (ICMAP). The purpose of the Awards is to encourage the publication of timely, accurate, informative and well-presented annual reports for shareholders, stakeholders, employees and others who may have an interest in the performance and activities of the organisations in question and to recognize and honour the organisations for their exemplary achievement in producing such reports.
BCSR competition has contributed in enhancing the quality of reporting in Pakistan. The Criteria are regularly reviewed by the Evaluation Committee in order to be update, in line with international best practices. I congratulate both ICAP and ICMA Pakistan of continuing with this tradition. In the end, I offer heartiest felicitations to the winners of this Best Corporate & Sustainability Report Awards competition and to those who have participated in the competition.