Jointly organised by Bursa Malaysia Berhad, Malaysian Institute of Accountants (MIA) and the Malaysian Institute of Certified Public Accountants (MICPA), the National Annual Corporate Report Awards (NACRA) 2019 Awards continued to raise standards of corporate disclosure and reporting transparency, in order to strengthen market integrity and investor confidence.
Minister of Finance YB Lim Guan Eng presented a total of 25 awards along with 11 Certificates of Merit to the finalists. These included awards for integrated reporting (IR) which MIA is actively advocating for organisations to tell their holistic and unique stories of value creation. This year saw an increase in the total number of NACRA 2019 participants with six new contenders.
In his keynote address, Lim said that the NACRA awards recognises those upholding the principles of competency, accountability and transparency as well as integrity in business. “Not only will it (integrity) help to uphold the important social capital of trust, which is essential towards laying the foundation of rule of law as well as an orderly and trustworthy society, it is also good for business. “What you see is what you get” will make Malaysia proud once again that we are no longer a global kleptocracy, but instead a normal democracy taking our rightful place among the civilised community of nations.”
The NACRA Adjudication Committee Chairperson Mr.Stanley Teo stated that good reporting is about transparency and engagement and that annual reports are still very relevant. “A good annual report is able to take the financial and non-financial information of an organisation and tell a clear, accessible story in a coherent way. By doing so, it has the potential to create greater public trust and confidence in the performance and prospects of the respective organisation.”
New NACRA Framework for 2020
At the NACRA 2019 launch in April 2019, the NACRA 2019 Organising Committee announced that there would be a ‘New NACRA’ framework introduced for the year 2020 and beyond. “With the ongoing changes in the current corporate reporting environment, the NACRA Committee saw the need to revamp the criteria and guidelines for future NACRA starting with NACRA 2020,” said NACRA 2019 Organising Committee Chairman Ahmad Zahirudin Abdul Rahim, who added that the new framework has been finalised to refresh and renew NACRA in 2020 and beyond.