New Delhi: The Power Finance Corporation (PFC) Limited has won the prestigious South Asian Federation of Accountants (SAFA) Gold Award in Best Presented Accounts / Annual Report Awards (BPA) in the ‘Public Sector Entities’ category for the Financial Year 2021-22.
PFC has been bestowed with this coveted award for its highest level of transparency in accounting practices and for achieving excellence in presenting and disclosing high-quality, relevant, reliable and objective financial statements following the international framework.
SAFA was formed in 1984 to serve the accountancy profession in the South Asian Region and uphold its eminence in the world of accountancy. It represents the eleven professional accountancy bodies in Afghanistan, Bangladesh, India, Nepal, Pakistan, Sri Lanka and Maldives. The SAFA BPA Award is considered South Asia's most prestigious financial reporting accolade. PFC last year won the SAFA Gold for the financial year 2020-21, and this is the first time since the inception of these awards in the year 1997 that any Indian company has won a ‘Gold’ in the category of “Public Sector Entities” for two consecutive years.
It is worth mentioning that PFC had earlier won the ICAI (Institute of Chartered Accountants of India) Gold Award for excellence in financial reporting in the ‘Public Sector Entities’ category for the Financial Year 2021-22.
PFC's CMD and Addl. Charge Director (Finance) Parminder Chopra, ED (Finance) Sandeep Kumar, ED (Finance) RK Malhotra and SGM (Finance) Mohd. Salim received this coveted award at an award distribution ceremony held at Ghaziabad.