New Delhi: Bharat Heavy Electricals Limited (BHEL) has won the coveted Institute of Chartered Accountants of India's (ICAI) National Award for 'Excellence in Financial Reporting' for the financial year 2019-20. The award has been received by BHEL's Director (Finance) Subodh Gupta from Union Minister of State for Parliamentary Affairs and Heavy Industries & Public Enterprises Arjun Ram Meghwal at a glittering function held at Ghaziabad on January 17.
Significantly, winning this prestigious recognition is a rare distinction achieved by BHEL after nearly four decades. The last time this recognition was granted to BHEL by ICAI, was in the year 1981-82. Notably, an independent jury unanimously selected BHEL in the 'Infrastructure and Construction Sector' category, for the Award for FY 2019-20 after screening at various levels.
Conferred by The Institute of Chartered Accountants of India (ICAI), this honor is accorded in recognition of the highest degree of compliance with Accounting Standards, Statutory guidelines, Regulations and Disclosures, manifesting exemplary excellence in the presentation of financial statements.
BHEL firmly believes that effective financial reporting plays a significant role in accelerating the economic growth of a country as the transparent, reliable and relevant information provided through annual reports, enables the management and other stakeholders in taking various effective business, investment and regulatory decisions.
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