REC Ltd wins ICAI Award for Excellence in Financial Reporting

Maharatna firm REC Limited, under the administrative control of the Ministry of Power, has won the ICAI Award for Excellence in Financial Reporting for the Financial Year 2023-24.

According to the exchange filing, “This is to inform that REC Limited (“REC”/ “the Company”) has been awarded ‘Gold Shield’ under the Financial Services Sector (Other than Banking and Insurance) category of ‘The Institute of Chartered Accountants of India (ICAI) Awards for Excellence in Financial Reporting for the financial year 2023-24’, at award ceremony held in the World Forum of Accountants (WOFA), ICAI at New Delhi,” REC Limited, which finances and promotes power projects.

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The prestigious recognition reflects the commitment of the Company to excellence in financial reporting, transparency and adherence to the highest standards of accounting practices.

The company said the selection has been made based on the company’s accounting practices, policies adopted for disclosure, presentation of financial statements, other disclosures in the Annual Report, and degree of compliance with Indian Accounting Standards, Statutory guidelines, and Regulations.

ICAI, through its Research Committee, has been organizing the ICAI Awards for Excellence in Financial Reporting since 1958 to recognize and encourage excellence in the preparation and presentation of financial and non-financial information in annual reports by entities across various sectors.

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