ICAB honours 36 corporates for best annual reports

An ICAB National Award was presented to 36 entities by the Institute of Chartered Accountants of Bangladesh (ICAB) yesterday for their best presented annual reports, integrated reporting and corporate governance disclosures in 2020.

Commerce Minister Tipu Munshi handed over the awards at Pan Pacific Sonargaon Dhaka.

This year, the ICAB and Chairman of Review Committee for Published Accounts and Reports received annual reports from 72 entities.

The award was given in 14 categories.

The infrastructure and construction category could not be considered as no participant was able to attain the threshold score for qualification.

Among the first prize winners are Summit Power (power and energy), ACI (diversified holdings), Grameenphone (communication and information technology), Unique Hotel and Resorts (service) and Golden Harvest Agro Industries (agriculture).

Category-wise first, second and third prize winners respectively are IDLC Finance, Bangladesh Finance and Delta Brac Housing Finance Corporation (financial services); and British American Tobacco (BD), RAK Ceramic (Bangladesh) and Reckitt Benckiser BD (manufacturing).

There are also Reliance Insurance, Prime Insurance Company and Eastland Insurance Company (insurance); IDLC Finance, LankaBangla Finance and Bank Asia (integrated reporting); and the Investment Corporation of Bangladesh and Infrastructure Development Company (public sector entities).

Prizes were also jointly won: Bank Asia and LankaBangla Finance both won first prize, Shahjalal Islami Bank and IDLC Finance jointly second and Brac Bank third prize (corporate governance disclosures).

Likewise, BRAC Bank and Bank Asia won the second prize while Shahjalal Islami Bank first and Mutual Trust Bank third (private bank).

Similarly, Ghashful and Community Development Center together came third while SAJIDA Foundation first and BRAC second (non-governmental organisation or non-profit organisation).

Moreover, a "Certificate of Merit" was presented to 11 entities.

They are Uddipan, Southeast Bank, Eastern Bank, The City Bank, Janata Bank, Rupali Bank, IPDC Finance, Marico Bangladesh, Orion Pharma, MJL Bangladesh and Paramount Textiles. 

Addressing the programme, ICAB President Mahmudul Hasan Khusru said the ICAB's role was to promote, enhance and improve financial statements and reports to reflect fair views, thereby safeguarding interests of the government and stakeholders.

He said the award seeks to promote transparent reporting and adequate disclosures through application of accounting or financial reporting and auditing standards, thereby meeting stakeholder expectations and high levels of professional ethics.