36 corporate entities get ICAB Award

The Institute of Chartered Accountants of Bangladesh (ICAB) distributed awards to listed and non-listed 36 entities in 14 different categories including public sector banks, private sector banks, financial services sector, manufacturing, power and energy sector, insurance, diversified holdings, communication and information technology, public sector, NGOs/NPOs, service sectors, agriculture, corporate governance and integrated reporting.

Recognising the first, second and third positions in each category, 11 entities which achieved a minimum threshold of scores are awarded the “Certificate of Merit.”

Among the winners, IDLC Finance Limited became over all winners.

During the year, ICAB-RCPAR received annual reports from 72 entities. Award for Infrastructure and construction category could not be considered because of scoring lesser than threshold marks by the participating entities.

Commerce Minister Tipu Munshi handed over the prizes, as the chief guest, to the winners at a gala event on Saturday at a hotel in the capital.

ICAB President Mahmudul Hasan Khusru, FCA, delivered address of welcome and the chairman of review committee for published accounts & reports Mohammed Humayun Kabir, FCA, also spoke on the occasion.

In banking sector (Private) category Shahjalal Islami Bank Ltd secured first prize, BRAC Bank Limited and Bank Asia Limited became joint second prize winners, and Mutual Trust Bank Limited became the third prize winner.

In the category of financial services sector, IDLC Finance Limited won the first prize, Bangladesh Finance Ltd won the second prize while Delta Brac Housing Finance Corporation Ltd won the third prize.

In manufacturing category, British American Tobacco (BD) Limited won the first prize, RAK Ceramic (Bangladesh) Ltd won the second prize while Reckitt Benckiser BD Ltd won the third prize.

In power and energy sector, Summit Power Limited won the first prize. Insurance sector, Reliance Insurance Ltd, Prime Insurance Co. Ltd and Eastland Insurance Co Ltd became first, second and third prize winners respectively.

In diversifies holdings sector, ACI Limited won the first prize. Grameenphone Limited won the first prize in Category of Communication and Information Technology.

In public sector entities category, Investment Corporation of Bangladesh (ICB) became the first prize winner and Infrastructure Development Co. Ltd (IDCOL) became second prize winner.

SAJIDA Foundation secured the first prize, BRAC secures second, and Ghashful and Community Development Center (CODEC) became joint third winners in Non-Governmental Organization (NGO) / Non-profit organisation category.

Unique Hotel & Resorts Limited became the first prize winner in category of service sector while Golden Harvest Agro Industries Limited the first prize winner in category of agriculture.

In corporate governance disclosures, Bank Asia Limited and Lanka Bangla Finance ltd became joint the first prize winners, Shahjalal Islami Bank Ltd and IDLC Finance Ltd joint second prize winners and Brac Bank Ltd become third prize winner.

Integrated reporting category, IDLC Finance Limited became the first prize winner, LankaBangla Finance Ltd second prize winner and Bank Asia third prize winner.

The other entities received certificate of merits were Uddipan, Southeast Bank Limited, Eastern Bank Limited, The City Bank Limited, Janata Bank Limited, Rupali Bank Limited, IPDC Finance Limited, Marico Bangladesh Limited, Orion Pharma Limited, MJL Bangladesh Ltd and Paramount Textiles Ltd

ICAB President Mahmudul Hasan Khusru said, the role of ICAB is to promote, enhance and improve the framing of the financial statements and reports to reflect fair views of the entities to safeguard the interest of the investors, government, stakeholders and other user groups.

He said, “The objective of the ICAB National Awards for Best Presented Accounts and Reports help to promote transparent reporting and adequate disclosures, through application of accounting/financial reporting and auditing standards, thereby meeting stakeholder expectations and high levels of professional ethics. He further said that this reflects ICAB’s firm commitment to serving the public interest and contributing towards the economic development of the country.”

A seven-member jury board chaired by Md Matiul Islam FCA, Chairman, IIDFC and former finance secretary, GoB reviewed the recommended list of winners.

The other members of the Jury Board were Ahmed Ataul Hakeem FCMA, former Comptroller and Auditor General Bangladesh, Dr. Atiur Rahman, former Bangladesh Bank Governor, Hedayetullah Al Mamoon, former senior secretary, GoB, Dr. Mustafizur Rahman, distinguished Fellow, CPD, Shah Husain Imam, Editor of the Financial Express and Dr. Mahmuda Akhter, Council Member- Financial Reporting Council (FRC)-Bangladesh.