KARACHI, Aug 19: To honour listed companies that come up with the 2001 annual accounts that were best in information, style, content and colour, a “Best Presented Accounts Awards” ceremony will be held on August 23 at Karachi.

A press release issued by the Institute of Cost & Management Accountants of Pakistan (ICMAP) on Monday stated that Federal Minister for Finance and Economic Affairs Shaukat Aziz would give away the awards/certificates to the Chief Executives of the winning companies.

The ICMAP press statement said that the ‘Best Presented Accounts’ Awards were instituted and presented to companies last year with a view to promoting good governance in the corporate sector. The Joint Committee of the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost & Management Accountants of Pakistan (ICMAP) had requested all the companies, listed on Stock Exchanges to send their published accounts for the year 2001. The Joint Committee had also circulated the criteria for selection for Best Presented Annual Report Awards.

The entire corporate sector has been divided into six sectors namely (i) Services, (ii) Textiles, (iii) Chemicals (iv) Fertilizer, (v) Engineering, (vi) Fuel & Energy and Miscellaneous.

The published annual reports for 2001, which were received for the contest were evaluated by a Sub Committee comprising members of the two Institutes and representative of the Securities & Exchange Commission of Pakistan (SECP), the ICMAP press release concluded.