On behalf of the Institute of Chartered Accountants of Pakistan, I wish to congratulate the winners of the BCSR awards and also those companies which have participated in the competition. Over the period, this competition has brought tremendous improvement in the annual reports of the companies. This fact has also been acknowledged at the regional level as the number of winning Pakistani companies of SAFA awards has increased.
I wish to place on record my appreciation for the Joint Committee of ICAP-ICMAP for holding this Awards Ceremony for the sixteenth consecutive year, and I would also like to applaud the efforts and enthusiasm of the members of its sub-committee, the BCSR Evaluation Committee for adjudging the results through a transparent process.
Effective and transparent business reporting allows organisations to present a detailed and cohesive explanation of their business performance and helps them engage with internal and external stakeholders, including customers, employees, shareholders, creditors, and regulators.
The accountancy profession has a great deal to contribute, and has a key role to play in enhancing organisational reporting. The profession has a long history of involvement in a number of key areas - for example, 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.
ICAP is committed to promoting transparency and accountability in Pakistan's corporate sector. With due adherence to professional ethics, professionalism and discipline, the profession has brought about a marked improvement in corporate governance and high quality reporting in Pakistan.