The Evaluation Committee which is a sub-committee of the Joint Committee of the Institute of Chartered Accountants of Pakistan and the Institute of Cost and Management Accountants of Pakistan has been giving the Best Corporate Report (BCR) Awards and Best Sustainability Report (BSR) Awards since 2000 and 2011 respectively. The objective of BCR/BSR Awards is to recognize excellence in corporate reporting, promote accountability & transparency and recognizing the responsible reporting by companies covering economic, environment and social performance of the business.
The Annual reports are adjudged for Awards/ Merit Certificates on the basis of separate criteria for BCR, BSR and Non-Profit Organizations developed by the Evaluation Committee. The Evaluation Committee comprised of prominent professionals working in prestigious organizations, evaluates corporate reports against a ‘criteria’, which not only comprise of mandatory requirements of the Companies Act, 2017, the Code of Corporate Governance and IFRS but also encourages to adopt best practice being followed all over the world.
The BCR Awards are given to following 13 categories/sectors that are:
|1) Banks||8) Sugar|
|2) Insurance||9) Textile|
|3) NBFIs & Mutual Funds||10) Pharmaceuticals|
|4) Chemicals & Fertilizers||11) FMCG|
|5) Engineering & Autos||12) NPOs|
|6) Fuel & Energy||13)Other|
Following companies are encouraged to participate in this competition:
- Listed companies;
- Public sector companies both listed and unlisted;
- Unlisted – Large size companies;
- NPOs; and
- Mutual Funds/ Assets Management Companies.
Awards are given to top five positions on each sector followed by Merit Certificates for reports achieving the minimum benchmark. Overall top three positions are also announced. The winning companies are also nominated for the SAFA Best Presented Report Awards.
Click here for the Best Corporate Report Awards
Click here for the Best Sustainability Report Awards
The list of winners is available here.