It is commendable that both the Institutes have kept the tradition of organizing Best Corporate and Sustainability Report Awards for the last 17 (seventeen) years. These awards are encouraging for Companies to present their annual reports as per global best practices.
As organizations fully depend on their stakeholders for sustainable success, it is in their interest to provide them with high-quality reports. Effective and transparent business reporting allows organizations 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.
High-quality information is integral to the successful management of the business, and is one of the major drivers of sustainable organizational success. Promoting culture of high-quality disclosures in Annual Reports enhances the confidence of existing investors and is beneficial for the organizations to attract local as well as foreign investors.
In the present complex corporate world, the profession of accountancy has attained a key place in the concept of 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 the country. Government fully supports initiatives and activities which support economic growth and stability.
I would like to congratulate all the winners of Best Corporate & Sustainability Reports Awards and hope that they will continue to achieve excellence in corporate/sustainability reporting in future. I wish to extend my heartiest congratulations to both the accountancy bodies that have organized this successful event.