Best Annual Report and Transparency Award was launched
On December 17, the National Reforms Support Foundation for Accounting, Reporting and Auditing (RSF) has launched the Best Annual Report and Transparency Award, under the auspices of a joint European Union–World Bank project on Financial Inclusion and Accountability.
Following the enactment of Georgia’s new Law on Accounting, Reporting and Auditing in 2016, this annual award is intended to encourage compliance with new reporting regulations, foster healthy competition between companies, and improve the overall standard of corporate reporting as part of the country’s quest to build up investor trust and confidence at local and international levels.
The inaugural award ceremony showcased 16 nominated companies, and was presided over by a distinguished international panel of judges. The winners in each of the 3 award categories are as follows:
• Large Financial Institutions – JSC TBC Bank
• Large Non-Financial Institutions (with 500 or more staff) – JSC Telasi
• Small Companies (with less than 500 staff) – Georgian Leasing Company LLC
• Honorary Award – JSC Crystal
This year, the award only accepted nominations from companies admitted to trading on the Georgian Stock Exchange (GSE). In 2020 and beyond, however, the award is expected to expand its scope.