THEME: “Financial Reporting amidst Covid-19 pandemic”. Following the successful three editions of Financial Reporting Awards where best financial reports were awarded, The Institute of Certified Public Accountants of Rwanda (ICPAR) in partnership with: Ministry of Finance and Economic Planning (MINECOFIN); Office of the Auditor General (OAG); and the Capital Market Authority (CMA) are delighted to launch the 4th edition of the Financial Reporting Awards (FIREAWARDS 2021). Over the years, it has become clear that financial statements on their own do not tell the whole story of the organizations’ performance. This has necessitated organizations to prepare integrated reports that on top of financials include aspects such as environmental impact; sustainability; corporate social responsibility; corporate governance; management accounts among others. Integrated Reports encourage quality reporting through voluntary disclosure of relevant information beyond the usual annual reports that are guided by the legal and regulatory requirements. Integrated reporting helps organizations to better assess and respond to both risks and opportunities and enables informed decision making around resource allocation and viable investments. Providing relevant information to stakeholders has never been so crucial than now, amidst Covid-19 pandemic. The objective of the FIREAWARDS therefore, is to promote a strong financial reporting culture, which in return will lead to improved accountability, integrity and transparency essential for laying a foundation for sound corporate governance; a main pillar in Rwanda’s current National Strategy for Transformation (NST1). The award is always open to all Rwandan based organizations that prepare financial statements. This is not a mere competition, as the event provides an opportunity for organizations to showcase their efforts in regard to corporate reporting including the Covid-19 impact, , provide a benchmark for various organizations to emulate, demonstrate good corporate governance and provide improved information to various stakeholders. All participants will receive feedback towards their performance from a team of independent experts across the entire process and we believe this will go a long way in providing insights into the best performers, encouraging them to share trends and help to spread leading practices thereby enhancing overall performance, whilst the market benefiting through improved quality reporting. The 4th FIREAWARDS will be held in a hybrid format - both physically and virtually on 11th November 2021 along with the 10th ICPAR Annual Training Conference scheduled for 10 -12 November at the Lake Kivu Serena hotel, Rubavu. We therefore request all interested entities to submit their entries via an ICPAR link https://fireawards.icparwanda.com/ not later than 20 September 2021 to facilitate an on-time evaluation and assessment of the financial statements. Private companies will submit their audited accounts as at 31 December 2020, while the public sector should submit as at 30 June 2020. However, any organization that may have a different accounting period, should submit their accounts as at end of their financial year 2020. May you require further clarifications, please contact us via +250 788997749 or send an email to chris.twagirimana@icparwanda.com.
