New Delhi: REC Limited has been awarded ‘Gold Shield’ under the ‘Financial Services Sector (Other than Banking and Insurance)’ category ‘ICAI Awards for Excellence in Financial Reporting for the financial year 2023-24’.
"The prestigious recognition reflects the commitment of our company to excellence in financial reporting, transparency and adherence to the highest standards of accounting practices," REC said in an official statement.
The selection has been made based on the company’s accounting practices, policies adopted for disclosure, presentation of financial statements, other disclosures in the annual report and degree of compliance with Indian accounting standards, statutory guidelines and regulations.
REC Limited's Director (Finance) Harsh Baweja, Executive Directors (Finance) Rajesh Kumar and Mohan Lal Kumawat have received the award from the Union Minister of State (Independent Charge) Arjun Ram Meghwal a ceremony held in the World Forum of Accountants (WOFA) at New Delhi. ICAI President CA Ranjeet Kumar Agarwal, Vice President CA Charanjot Singh Nanda, Research Committee Chairman & Vice Chairman and the ICAI Council Members were also present at the event.
Harsh Baweja expressed gratitude for the recognition and highlighted the dedication of REC Limited's team in maintaining best financial practices and application of applicable regulations.
The Institute of Chartered Accountants of India through its Research Committee has been organizing the ICAI Awards for Excellence in Financial Reporting since the year 1958, to recognize and encourage excellence in the preparation and presentation of financial as well as non-financial information in annual reports by entities across various sectors.
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