(G.N.S) Dt. 19
New Delhi
Power Finance Corporation Ltd. (PFC) has won South Asian Federation of Accountants (SAFA) Gold Award in the ‘Best Presented Accounts / Annual Report Awards’ (BPA) for the Financial Year 2020-21 in Public Sector Entities category.
The PFC was bestowed with this coveted award for its highest level of transparency in accounting practices and for achieving excellence in the presentation and disclosure of high-quality, relevant, reliable and objective financial statements in accordance with the international framework. The SAFA BPA Award is considered the most prestigious accolade for financial reporting in the entire South Asian region. This is the first time since the inception of these awards in 1997 that any Indian Company has won a ‘Gold’ in the category of Public Sector Entities.
Based upon the quality of financial reporting, ICAI every year selects a few entries out of the awardees of excellence in financial reporting for sending to SAFA, which this year included PFC. The financials of PFC competed against entries from entire South Asian Companies and was ultimately declared the winner by the jury.
