Thirty-six entities were honoured with the ICAB National Award for their best presented annual reports, integrated reporting, and corporate governance disclosures in 2020.

The Institute of Chartered Accountants of Bangladesh (ICAB) distributed awards at hotel Pan Pacific Sonargaon Dhaka today. Commerce Minister Tipu Munshi handed over the prizes to the winners.

The award was given in 14 different categories. Recognising the first, second and third positions in each category, 11 entities that achieved a minimum threshold of scores are awarded the "Certificate of Merit."

Among the winners, IDLC Finance Limited became overall winners.

Besides, Md Matiul Islam, founding member of ICAB, was given ICAB Lifetime Achievement Award at the ceremony.

Md Matiul Islam, founding member of ICAB, has been honoured with ICAB Lifetime Achievement Award. Photo: Collected

In banking sector (private) category, Shahjalal Islami Bank Ltd secured first prize, BRAC Bank Limited and Bank Asia Limited became joint second prize winners, and Mutual Trust Bank Limited became the third prize winner.

In the category of the financial services sector, IDLC Finance Limited won the first prize, Bangladesh Finance Ltd won the second prize while Delta Brac Housing Finance Corporation Ltd won the third prize.

In manufacturing category, British American Tobacco (BD) Limited won the first prize, RAK Ceramic (Bangladesh) Ltd won the second prize while Reckitt Benckiser BD Ltd won the third prize.

In power and energy sector, Summit Power Limited won the first prize while in the insurance sector, Reliance Insurance Ltd, Prime Insurance Co. Ltd and Eastland Insurance Co Ltd became first, second and third prize winners respectively.

In diversified holdings sector, ACI Limited won the first prize while Grameenphone Limited won the first prize in the communication and information technology category.

Investment Corporation of Bangladesh (ICB) and Infrastructure Development Co. Ltd (IDCOL) became first and second prize winners in the public sector entities category.

SAJIDA Foundation and BRAC secured the first and second prize while Ghashful and Community Development Center (CODEC) became joint third winners in the non-governmental organisation (NGO) or non-profit organisation category.

Unique Hotel and Resorts Limited became the first prize winner in the service sector category while Golden Harvest Agro Industries Limited is the first prize winner in the agriculture category.

In corporate governance disclosures, Bank Asia Limited and Lanka Bangla Finance ltd became joint the first prize winners, Shahjalal Islami Bank Ltd and IDLC Finance Ltd joint second prize winners and Brac Bank Ltd become third prize winner.

IDLC Finance Limited, LankaBangla Finance Ltd and Bank Asia become the first, second and third prize winners respectively in the integrated reporting category.

The other entities that received the certificate of merits were Uddipan, Southeast Bank Limited, Eastern Bank Limited, The City Bank Limited, Janata Bank Limited, Rupali Bank Limited, IPDC Finance Limited, Marico Bangladesh Limited, Orion Pharma Limited, MJL Bangladesh Ltd and Paramount Textiles Ltd.

Addressing the programme, ICAB President Mahmudul Hasan Khusru said the role of ICAB is to promote, enhance and improve the framing of the financial statements and reports to reflect fair views of the entities to safeguard the interest of the investors, government, stakeholders and other user groups.

He said the objective of the ICAB National Awards for best-presented accounts and reports help 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.

This year, ICAB- and Chairman of Review Committee for Published Accounts and Reports (RCPAR) received annual reports from 72 entities. However, the award for the infrastructure and construction category could not be considered because of scoring lesser than threshold marks by the participating entities.