The Institute of Chartered Accountants of Nepal ( ICAN ) held the “National Best Presented Annual Report (BPA) Award Distribution Ceremony 2024” on Friday, July 18, honouring more than a dozen companies from various sectors for excellence in financial reporting.
Auditor General Toyam Raya presented the awards.
In the Private Sector Banking Institutions category, Nabil Bank won the Gold Award, while Siddhartha Bank and Nepal SBI Bank received the Silver and Bronze awards, respectively. Everest Bank, Machhapuchchhre Bank, and Standard Chartered Bank received Certificates of Merit.
In the Public Sector Banking category, Agricultural Development Bank received the Silver Award.
In the Financial Services category, Kamana Sewa Bikas Bank won the Gold, Mahalaxmi Bikas Bank the Silver, and Muktinath Bikas Bank the Bronze Award. Prabhu Capital Limited, Lumbini Bikas Bank, and Shine Resunga Development Bank were given Certificates of Merit.
In the General Insurance (Non-Life) category, Nepal Insurance Company won the Gold, Shikhar Insurance the Bronze, while Himalayan Everest Insurance and Siddhartha Premier Insurance received Certificates of Merit.
In the Life Insurance category, Nepal Life Insurance Company secured the Silver Award, while IME Life Insurance Company received a Certificate of Merit.
In the Manufacturing category, Unilever Nepal bagged the Gold Award, while Bottlers Nepal (Terai) and Himalayan Distillery received the Bronze Award. Bottlers Nepal was also awarded a Certificate of Merit.
In the Energy sector, Butwal Power Company received a Certificate of Merit, while in the Service sector, Oriental Hotel won the Bronze Award.
ICAN said that the national award winners will be recommended for the South Asian Federation of Accountants (SAFA) Best Presented Annual Report Awards.
Outgoing ICAN President Prabin Kumar Jha said the award is intended to promote quality financial reporting, encourage transparency, and raise the overall standard of financial disclosure in Nepal.
During the event, Nil Bahadur Saru Magar was sworn in as ICAN’s new President, and Ananda Raj Sharma Wagle as Vice President.
Auditor General Raya underscored the need for Nepal’s accounting and auditing systems to inspire pride internationally and urged the newly elected council to work towards that goal.
Financial Comptroller General Shova Kanta Poudel added that ICAN has a vital role in enhancing the transparency of Nepal’s business environment.