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SAFA awards: Recognizing excellence in financial reporting

Asian Accounting & Auditing Advancement

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Title SAFA awards: Recognizing excellence in financial reporting
 
Creator ADHIKARI, PARAMANANDA; FCA, ACS
 
Subject SAFA, SAFA BPA & CG Awards, IAS/IFRS and ISA/IAPS, IFAC, SAFA ITAG Committee
 
Description The major objective of SAFA Awards is intended to enhance good governance, transparent reporting and adequate disclosures through application of financial reporting and auditing standards, thereby meeting stakeholders’ expectations and high levels of professional ethics in South Asian countries. This reflects SAFA’s firm commitment to serving the public interest and contributing towards the economic development of the SAARC Region.SAFA Best Presented Accounts & Corporate Governance (BPA & CG) Awards, in fact, are the testimony to the commitment of the entities towards maintaining the highest level of transparency in accounting practices. Corporate entities, of course, have always been a strong proponent of good corporate governance and constantly strive to reflect the same in all their processes, which in turn translate into increased confidence towards the company from both existing and potential customers.On the other hand, the Awards are honor of recognition given by the SAFA, which is a good testament towards the entity's commitment on transparent reporting and good governance. SAFA Awards is an acknowledgement that the corporate entities have excelled in fulfilling its financial reporting obligations.The presentation of SAFA Awards  impacts a significant long-term recognition for the publicly disclosed financial and other stakeholder information and do not in any way represent any attestation by the SAFA for the operational performance, financial position, liquidity, capital adequacy or equity status of the evaluated entities. The awards, of course, help to corporate entities to enhance their quality and disclosures of published Annual Reports in the days to come. The term presentation, transparency, disclosure have been used amply, throughout this article to reflect the quality of Annual Reports. This article aims to highlight the SAFA and SAFA Awards, how the awards help to improve the corporate financial reporting and best practices, how to judge the award winners et cetera, et cetera.JEL Classification Code: M41, M48, M49
 
Publisher Asian Business Consortium
 
Contributor —
 
Date 2015-02-22
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Identifier http://journals.abc.us.org/index.php/araf/article/view/ADHIKARI
 
Source Asian Accounting & Auditing Advancement; Vol 1, No 1 (2010): Inaugural Issue; 05-12
2218-5666
 
Language en
 
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