The Financial Reporting (FiRe) Award Celebrates 10 years of existence in acknowledging and rewarding excellence in financial reporting. This will be at a Gala Dinner on 18thOctober 2011 at KICC, Tsavo Ballroom.
[pullquote]The Award is as a result of joint efforts of the founding Promoters: The Institute of Certified Public Accountants of Kenya (ICPAK); the Capital Markets Authority (CMA) and the Nairobi Securities Exchange (NSE). [/pullquote]
The FiRe Award seeks to enhance accountability, transparency and integrity in compliance with International Financial Reporting Standards and other disclosures on governance, social and environmental reporting by private, public and other entities domiciled in East Africa.
This year, the competition has attracted about 86 entrants from Kenya (72), Uganda (4), Tanzania (3) and Rwanda (7).
All companies that prepare financial reports are welcome to submit their reports for evaluation between January and June every year for review in the Award. While preparing their reports, companies are tasked with the responsibility of ensuring that their stakeholders understand the financial status of their companies. Through a transparent evaluation process, the reports are examined and graded. Thereafter, individualized reports are sent to the participating companies for review and a chance to improve on their shortfalls.