ICAI Awards for Excellence in Financial Reporting’ for the year 2016-17-AWARDEES FOR THE YEAR 2016-17
ICAI has declared awards for “Excellence in Financial Reporting’ for the year 2016-17”. As per the announcement of the Institute of Chartered Accountants of India, in deciding the eligibility of the participating enterprises to the award, the Panel of Judges meticulously considered the financial and other information contained in the Annual Reports and their Accounts and entities not fulfilling the benchmark of ‘Excellence in Financial reporting’ were not considered.
The list of awardees for the year 2016-17, as declared by ICAI are as under:
| Category I Public Sector Banks No award given in this category |
| II Private Sector Banks (including Foreign Banks) Plaque for Commended Annual Report- Kotak Mahindra Bank Limited Plaque for Commended Annual Report – HDFC Bank Limited |
| III Co-operative Sector Banks No award given in this category |
| IV Life Insurance Silver Shield – ICICI Prudential Life Insurance Company Ltd. Plaque for Commended Annual Report – HDFC Standard Life Insurance Company Ltd. |
| V Non-Life Insurance No award given in this category |
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VI Financial Services Sector (Other than Banking and Insurance) |
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VII Manufacturing and Trading Sector (including entities engaged in processing, mining, plantations, oil and gas enterprises) (Turnover equal to Rs. 3000 crore or more) |
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VIII Manufacturing and Trading Sector (including entities engaged in processing, mining, plantations, oil and gas enterprises) (Turnover equal to and between Rs. 500 crore and Rs. 3000 crore) |
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IX Manufacturing and Trading Sector (including entities engaged in processing, mining, plantations, oil and gas enterprises) (Turnover less than Rs. 500 crore) |
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X Service Sector (Other than financial services sector) (Turnover equal to or more than Rs. 500 crore) |
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XI Service Sector (other than financial services sector) (Turnover less than Rs. 500 crore) |
| XII Not-for- Profit Sector Gold Shield – The Akshaya Patra Foundation Plaque for Commended Annual Report – Vidya Dairy |
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XIII Infrastructure and Construction Sector (Turnover equal to more than Rs. 500 crore) |
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XIV Infrastructure and Construction Sector (Turnover less than Rs. 500 crore) |
The ICAI has clarified that the awardees have been selected by the panel of judges on review of accounting practices adopted by the participating enterprises in the preparation of their financial statements without regard to their financial condition and operating performance. Accordingly, the awards signify that the accounting policies followed by the concerned enterprise are the best amongst the enterprises that have participated in the Competition.
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