The Accounting and Tax Institute has announced „The Best Annual Report 2010” competition, i.e. the best annual report according to IFRS/IAS for the sixth time. The Polish Insurance Association is a patron of this event.
Only those companies which drew up consolidated financial statements according to IFRS/IAS can participate in the competition. The aim of the competition is to promote annual reports of the biggest use value for shareholders and investors, i.e. reports on the basis of which investment decisions can be made with relatively minimal risk. Each company participating in the competition receives a detailed grade sheet with notes of the jury members whereby it is possible to improve the annual report every year. There has been a new category functioning for 3 years: the best annual report on the Internet. It has given rise to crucial changes in financial reporting on the Internet. The competition’s terms and conditions state in detail the requirements for an annual report to be evaluated. The first criterion of selection is the analysis of an auditor’s opinion about the financial statement audit. Next, each annual report is judged by three teams that evaluate the board’s business activity statement, application of IFRS/UAS and use value . The sum of marks from those teams is maximum 100 points.
The Accounting and Tax Institute is very proud that there are more and more companies participating in the competition and encourages everyone willing to verify the quality of their annual reports. Detailed information can be found on the website of the organizer.
