The Institute of Chartered Accountants of India (ICAI) in its endeavour to propagate and promote best financial reporting standards and practices organise the ICAI Awards for Excellence in Financial Reporting which honours organisations that follow best financial reporting practices. On 2nd February 2019, Hindustan Unilever Limited (HUL) was recognised and awarded at the ICAI Awards for Excellence in Financial Reporting held at Hyatt Regency, New Delhi.
HUL’s Annual Report of 2017-18 was selected by the Jury as deserving of the “Silver Shield” under the Category VII – Manufacturing and Trading Sector. Suman Hegde, General Manager, Finance Controller, HUL along with her team accepted the award on the Company’s behalf at the ceremony held on February 2nd in New Delhi.
The Jury this year was chaired by Mr U K Sinha, former Chairman, Securities and Exchange Board of India (SEBI). Every year, the Jury selects awardees after reviewing the accounting practices adopted by participating enterprises while preparing their financial statements, the policies adopted for disclosure, and presentation of financial statements.
This year, HUL also brought home the Best CFO award and the ICAI prize for CA Achiever-FMCG sector.
HUL, CFO, Srinivas Phatak was awarded the Best CFO – FMCG category and Yogesh Mulgaonkar, General Manager - M&A, Treasury and Insurance, HUL was named the CA Achiever of the year at the prestigious 12th ICAI's Leaders & Business Excellence Awards 2018 held on 19th January 2019 in Mumbai.
These Awards, organised by the Committee for Professional Accountants in Business & Industry (CPABI) recognise members from industry and business, who demonstrate professional excellence and create value for their companies and stakeholders on a sustainable basis. The jury committee comprised industry experts, business executives and eminent leaders from various industries under Chairmanship of Shri Keki Mistry, Vice Chairman, and CEO, HDFC.
These awards are an acknowledgement of HUL’s talent, best in class finance processes and quality corporate governance standards.
ICAI is the second largest professional body of Chartered Accountants in the world, and functions under the administrative control of the Ministry of Corporate Affairs, Govt. of India.