ICMA Pakistan: Messages From Zia-Ul-Mustafa FCMA President, Institute of Cost & Management Accountants of Pakistan (ICMA Pakistan)

TEXT: It is with great pleasure that the country's two leading professional accounting bodies, ICMA Pakistan and ICA Pakistan, will hold a ceremony on August 27, 2021 to honour the listed companies with the Best Corporate and Sustainability Report Awards-2020, continuing a tradition both professional accounting bodies are aware of their responsibilities.

With each passing day, the changing global landscape with specific reference to good governance, transparency, and adherence to numerous norms and legislation centred on these two criteria gains traction. As a result, the conferral of these prizes is not only a source of pride for the participating companies, but also proof of their compliance with local rules and international accounting standards.

The large number of participants in the awards race year after year has prompted the promotion of a responsible reporting culture and the adoption of international best practices in standard reporting. It is worth emphasizing that the most comprehensive and detailed reports play a critical role in establishing trust and making decisions for all stakeholders, including regulators, lending agencies, and financial institutions.

It's encouraging to note that every year, an increasing number of contestants enter this competition, demonstrating the importance of the BCSR Awards. We are convinced that, in the future, the level of reliance on annual reports will skyrocket, owing to improvements in corporate governance, which will benefit the economy.

I appreciate all of the participating firms for taking part in the BCSR Awards 2020 on behalf of ICMA Pakistan. Members of the Evaluation Committee and Joint Committee of ICA Pakistan and ICMA Pakistan have my heartfelt gratitude for your honorable and dedicated collaboration in not only making this event possible, but also in strengthening our will t perpetuate this tradition.

I wish the ICMA Pakistan and the ICA Pakistan a prosperous future.

Copyright Business Recorder, 2021