23 cos win ICAB awards

Staff Correspondent | Published: 22:22, Nov 26,2020


The Institute of Chartered Accountants of Bangladesh on Thursday awarded 23 companies in 12 categories with the ICAB National Award for their best presented annual reports in 2019.

IDLC Finance Ltd achieved the overall winner award for the year.

Commerce minister Tipu Munshi handed over the awards to the winners at the 19th National Award ceremony organised by ICAB at the Pan Pacific Sonargaon Hotel in the capital, Dhaka.

The twenty-two listed and non-listed entities, including banks, financial institutions, insurance companies, manufacturing, information and communication technology, non-governmental organisations (NGOs) and public sector entities received 32 awards in the categories.

In the private bank category, BRAC Bank won the first prize while Shahjalal Islami Bank and Bank Asia jointly became second, and Mutual Trust Bank and Mercantile Bank jointly secured the third position.

IDLC Finance clinched the first prize in the financial services sector category while IPDC Finance Ltd and LankaBangla Finance Ltd secured the second and third potions respectively.

British American Tobacco BD Company became first, Orion Pharma Ltd second and Summit Power Ltd became third in the manufacturing category.

Grameenphone Ltd won the first prize in the communication and IT category and Investment Corporation of Bangladesh (ICB) became first in the public sector.

Unique Hotel and Resort Ltd and Golden Harvest Agro Industries Ltd clinched the first prize in the category of service sector and agriculture respectively.

In the insurance category, Green Delta Insurance, Prime Insurance Ltd and Reliance Insurance Ltd secured the  first, second and third positions respectively.

In the NGO category, SAJIDA Foundation got the first prize while Ghashful and CODEC jointly became second and Action Aid Bangladesh won the third prize.

LankaBangla Finance and IDLC Finance became first and second respectively in the integrated reporting category while Bank Asia and BRAC Bank jointly got the third position in the category.

In the corporate governance category, IDLC Finance and LankaBangla Finance jointly won the first prize, Bank Asia became second and Islami Bank Bangladesh Ltd and BRAC Bank jointly got the third prize.

Another 18 entities, including Islami Bank, City Bank, Standard Bank, Dutch-Bangla Bank, Bangladesh Steel Re-Rolling Mills Ltd, BEXIMCO Pharmaceuticals Ltd, Renata Ltd, BSRM Steels Ltd, Shinepukur Ceramics Ltd, BURO Bangladesh, IPDC Finance, Mutual Trust Bank, Green Delta Insurance, Prime Bank, Golden Harvest Agro Industries Ltd, Mercantile Bank, British American Tobacco BD Ltd and Grameenphone Ltd, achieved the certificates of merit in different categories.

At the programme, Tipu Munshi said that integrity, transparency, accountability and good governance came first in the business process and reporting to ensure the continuity of economic development of the country.

Professional excellence of chartered accountants will ensure good governance and transparency in corporate practices helping to create environment of business confidence among stakeholders, the commerce minister said.

He hoped that the award would encourage the entities to build trust, confidence and credibility that would address the sustainable development of the country.

ICAB president Muhammad Farooq said that the objective of the awards for best presented accounts and reports was to promote transparent reporting and adequate disclosures, through application of accounting and financial reporting and auditing standards.

Commerce secretary Jafar Uddin, Financial Reporting Council (FRC) chairman Md Hamid Ullah Bhuiyan and ICAB published accounts and reports review committee chairman Mohammed Humayun Kabir also spoke at the programme.

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