Accountancy awards: SAFA awards conferred

President ICMAP Ziaul Mustafa said that SAFA was committed to developing accountancy profession among SAARC members.

The South Asian Federation of Accountants presented “SAFA best presented annual report awards and SAARC anniversary awards” for corporate governance disclosures in conjunction with an international conference organised by the Institute of Cost and Management Accountants of Pakistan (ICMAP) here in the capital.

SAFA President Subodh Kumar Agrawal said CEOs and companies of all sizes today were facing challenges of an increasingly competitive global economy. While many corporations have taken on various initiatives to continue to grow corporate earnings and shareholder value, some have discovered the strategic value of corporate awards.

The “Corporate Excellence Awards” are conferred by SAFA with an objective to recognise listed companies which excel in corporate and management practices, said a press release.

President ICMAP Ziaul Mustafa said that SAFA was committed to developing the accountancy profession among SAARC members to ensure broader economic development of the region.

The summit was attended by leading South Asian economists and accountants.

SAFA, consisting of the institutes of chartered and management accountants in SAARC countries, holds these awards regularly for different categories on the basis of evaluation of the published annual reports of companies across the region to improve transparency, accountability and governance in financial reporting.

Published in The Express Tribune, May 4^th, 2014.