PPL receives SAFA award for ‘Best Presented Accounts’

PPL receives SAFA award for ‘Best Presented Accounts’

Pakistan Petroleum Limited's General Manager Finance and Chief Financial Officer Kamran Wahab Khan receives the South Asian Federation of Accountants Award for 'Best Presented Accounts for Annual Report 2009 from Nepal Finance Minister Surendra Pandey on December 12 2010
Pakistan Petroleum Limited's General Manager Finance and Chief Financial Officer Kamran Wahab Khan receives the South Asian Federation of Accountants Award for 'Best Presented Accounts for Annual Report 2009 from Nepal Finance Minister Surendra Pandey on

PPL receives SAFA award for ‘Best Presented Accounts’

Pakistan Petroleum Limited’s (PPL) Annual Report 2009 achieved yet another distinction by being conferred the “Overall Winner” across all categories by South Asian Federation of Accountants (SAFA) under the ‘Best Presented Accounts Award’ for 2009. In addition, the company was also adjudged ‘Joint Winner’ of the ‘Best Presented Accounts and Corporate Governance Disclosures Award’ in the manufacturing sector.

The prestigious SAFA award was presented by Nepal’s Finance Minister Surendra Pandey to CFO and GMF Karman Wahab Khan at an impressive event held on December 12 in Kathmandu, Nepal.

PPL’s Annual Report 2009 had earlier won the overall Best Corporate Report Award (BCRA) in October 2010, at an event jointly organized by the Institute of Chartered Accountants of Pakistan and Institute of Cost and Management Accountants of Pakistan.

These awards recognize PPL’s adherence to best corporate governance practices and transparent accounting and financial reporting procedures in the interest of the company and its stakeholders. As a benchmark Oil and Gas Exploration and Production company of the country, PPL has set high standards of reporting and information sharing.

SAFA is an apex body of the South Asian Association for Regional Cooperation (SAARC) and is recognized increasingly as a forum of professional accounting bodies comprising over 170,000 professional accountants. SAFA is committed to position, maintain and develop the accountancy profession amongst SAARC members and ensure its continued eminence in the world of accountancy for public interest of individual countries and towards the broader economic development of the region. Pakistan, India, Bangladesh, Nepal and Sri Lanka are the members of this body.

The SAFA award is presented to recognize and nurture professional excellence in the field of financial reporting in the region and winners are selected after systematic evaluation of the published annual reports by an eminent panel of judges from leading professional institutions across the region.