The Transparency Trophy 2017 is ours!
The National Association of Finance, Business Management and Accounting Executives (ANEFAC) has announced the winners of the Transparency Trophy 2017. Energisa won the award for companies in the R$ 5 billion plus net revenue bracket. The award will be presented in October during the 21st ANEFAC - FIPECAFI - Serasa Experian Awards in São Paulo.
The Transparency Trophy is an initiative run by ANEFAC in partnership with the Institute for Accounting, Actuarial and Financial Research (FIPECAFI) and Serasa Experian that uses stringent criteria to assess transparency in companies financial-statement disclosures.
Now in its 21st edition, the annual award program aims to bring financial reporting practices into the limelight and further enhance the transparency of financial information disclosed by Brazilian corporations. Selected companies were divided into two net revenue brackets - above and below R$ 5 billion - and more than 2 thousand statements of financial position from companies in Brazil were assessed.
Award criteria include the quality and completeness of the disclosures and notes to the financial statements, financial reporting transparency, management report quality and consistency, and conformity to accounting principles in financial year 2016.