By Our Staff Reporter
Haridwar, 19 Jan: Bharat Heavy Electricals Limited (BHEL) has won the coveted ‘ICAI National Award for Excellence in Financial Reporting’ for the financial year 2019-20. The award was received by Subodh Gupta, Director (Finance), BHEL, from Arjun Ram Meghwal, Union Minister of State for Parliamentary Affairs and Heavy Industries & Public Enterprises.
Winning this prestigious recognition is a rare distinction achieved by BHEL after nearly four decades. The last time this recognition was granted to BHEL by ICAI was in 1981-82. Notably, an independent jury unanimously selected BHEL in the ‘Infrastructure and Construction Sector’ category, for the Award for FY 2019-20 after screening at various levels.
Conferred by The Institute of Chartered Accountants of India (ICAI), this honour is accorded in recognition of the highest degree of compliance with Accounting Standards, Statutory guidelines, Regulations and Disclosures manifesting exemplary excellence in presentation of financial statements.
Effective financial reporting plays a significant role in accelerating the economic growth of a country as the transparent, reliable and relevant information provided through annual reports, enables the management and other stakeholders in taking various effective business, investment and regulatory decisions.
