Ebene, 01 March 2018 – SEM-10 contenders impressed the Judging Panel and made their mark for the 20th edition of PwC’s Corporate Reporting Awards, held on Thursday 01 March at the Hennessy Park Hotel in Ebene.
Phoenix Beverages Ltd topped four nominees to win the prize in this category, “thanks to its ability to reinvent its reporting to cover comprehensively the Integrated Reporting Framework” said Olivier Rey, PwC Partner presenting the Judging Panel findings.
The winner of the new segment, “Listed Global Business Companies” trading on the Stock Exchange of Mauritius (SEM), was New Frontier Properties Ltd, while Bank One made it in the “Financial Institutions” Category. In the cross-categories awards, CIEL Limited went away with two awards, namely “Risk Management (Non-Financial Institutions)” and “Online Reporting”.
MCB Group Ltd won the “Risk Management – Financial Institutions Award”, and finally Lux Island Resorts Ltd the “Corporate Governance Disclosures” Award.
The Judging Panel decided not to present an award for the “Non-listed entities and Parastatals” and the “Listed Companies” (entities other than the SEM-10 and Financial Institutions), as very few contenders embraced integrated thinking in their corporate reporting.
In his welcome speech, André Bonieux, PwC Mauritius Senior Partner, reminded the floor that PwC embarked on the Best Published Accounts 20 years ago, “from what was a bit of a stab in the dark”. The event has since then gathered pace to become a key milestone in the calendar of many corporates.
Mr Bonieux said that the objective of the event was to recognise the efforts made by participating companies to produce quality reports. “After almost 40 years in this game, it seems to me that annual reports have taken on a new life recently, given the quality of discussions and analytics that are shared with readers”. He encouraged the floor to go through annual reports of companies that had adopted as their reporting framework.
After almost 40 years in this game, it seems to me that annual reports have taken on a new life recently, given the quality of discussions and analytics that are shared with readers
After an address by The. Hon. Ivan Collendavelloo, Deputy Prime Minister and Minister of Energy and Public Utilities, Dr. Chris Pierce, the principal author of the New Mauritian Code of Corporate Governance, gave a speech on the status of corporate governance in Mauritius and abroad.
PwC is a fervent advocate of and has been running a number of initiatives locally to spread the understanding and implementation of the Framework in the minds of Mauritian corporates.
Before presenting the Awards, Olivier Rey ran a live panel discussion with Mauritian implementers of the Framework, namely Vishnee Payen from Lux Island Resorts, Virginie Corneillet from ENL and Dipak Chummun from IBL.
Discussions were around the value of adopting and integrated thinking for an organisation, and the challenges faced when implementing such a framework in large organisations.
They also discussed around how to align sustainability reporting and , and ended on the future corporate reporting, which irrevocably goes through digital supports.
Commenting on the Corporate Governance Disclosures Award, Olivier Rey touched on gender equality and shared that PwC adhered to the HeforShe Programme created three years ago by the United Nations. The idea of the programme is to ask men to promote gender equality, rather than women.
Within a local perspective, there are still ten men board members for every one woman. “This is something your stakeholders and investors are looking at,” he said, inviting the floor to give a serious thought to this aspect of their board composition.
Anthony Leung Shing
Tax Leader, PwC Mauritius
Tel: +230 404 5071
Assurance Leader, PwC Mauritius
Tel: +230 404 5138