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TEXT: High quality and transparent presentation of information in annual reports is important for the listed companies in achieving business success. The quality of information presented in annual reports also influences investors’ and other stakeholders’ decisions. Moreover, the disclosure of accurate, comprehensive and timely information is critical for the functioning of an efficient capital market.

Realizing their social responsibilities towards public in general and towards investors, ICMA Pakistan and CA Pakistan play a role of bridge between both the sides. As such this year also, as done continually for last 19 years, both the organizations are holding a ceremony to confer awards to companies whose financials are found most elaborative and compliant to various local and global standards under banner of Best Corporate and Sustainability Awards (BCSRA). To make this practice fair and undisputed, all segments of corporate world are given chance and after thorough and critical reviews from different angles by Joint Evaluation Committee of ICMA Pakistan and ICAP the winning companies are declared. The very purpose of this exercise is to nurture the culture of good governance, documentation, responsible reporting, and right to know and encourage best performers and induce others towards improvement in this direction.

I wish success to both of these Accounting bodies in their endeavors towards ensuring culture of good governance, adherence to regulations of local and global regulators with the sole purpose of betterment of corporatized Pakistan.

I would like to thank all the companies taking part in this year’s BCSRA Awards 2019, all the members of Joint Committee of ICMA Pakistan and ICAP and Evaluation committee whose efforts made this ceremony a record of corporate history of Pakistan.

Let's wish for a day when we become leaders in governance standards and world follow our lead, I know it's hard to imagine but if one dream then and only then it can become reality.

Copyright Business Recorder, 2020