Illustrative image (Source: VNA)
HCM City (VNA) - The 10th Vietnam Annual Report Awards were announced in HCM City on February 23 with the focus this year on listed companies following international reporting norms.

To be considered for the awards for best annual reports by companies listed on the HCM Stock Exchange (HOSE) and Hanoi Stock Exchange (HNX), the reports must have been submitted during fiscal 2016.

Around 700 companies’ reports are expected to be entered for the awards.

“This year four leading global auditing companies, Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers, will judge the reports for the first time,” Le Trong Minh, chief editor of Vietnam Investment Review newspaper, one of the organisers of the awards, said.

This year’s awards encourage companies to follow the International Financial Report Standards (IFRS) and submit an English version of their reports.

Electronic versions are accepted.

The awards will continue to consider high standards, transparency, professionalism, creativity, and sustainable development, but not business performance.

Le Hai Tra, general deputy director of HOSE, said: “The awards increase firms’ awareness of the importance of a good annual report. If their annual report is of international standard, they will have a greater chance of attracting foreign capital.”

The Sustainability Reporting Awards (SRA) will continue to be given as a part of the awards.

The deadline for the awards’ entries is April 20. The results of the preliminary round will be announced in May, and the awards ceremony will be held in July.

Fund management firm Dragon Capital remains the awards’ sponsor.-VNA