RITES bags ICAI Award for excellence in financial reporting

RITES Ltd., a Miniratna (Category – I) Schedule ‘A’ Public Sector Enterprise, has been awarded ‘Plaque for Commended Annual Report’ at the ICAI Awards for Excellence in Financial Reporting 2020-21 and conferred ‘Certificate of Merit’ from the South Asian Federation of Accountants (SAFA) for Best Presented Annual Report Awards, Integrated Reporting Award & SAARC Anniversary Award for Corporate Governance Disclosures 2020.

RITES has received the award under the category of Public Sector Entities for its Annual Report and Financial Statement for the year ended March 31, 2021. RITES’ Director (Finance) & Chief Financial Officer Shri Bibhu Prasad Nayak received the award from Hon’ble Union Minister Shri Jitendra Singh at a ceremony on February 9, 2022.

The award recognises accounting practices, policies adopted by RITES Ltd. for disclosure and presentation of financial statement(s) and the company’s highest degree of compliance with accounting standards, statutory guidelines, regulation etc.

The award was presented by The Institute of Chartered Accountants of India, the national professional accounting body of the country.