ONGC has been conferred the First Runner up Position under the Best Presented Accounts Award for the year 2009 in Public Sector Entities category by South Asia Federation of Accountants (SAFA). SAFA as a forum of professional accounting bodies comprising of over 1,80,000 professional accountants, is committed to positioning, maintaining and developing the accounting profession in SAARC Region. Eight accounting professional Institutes of Bangladesh, India, Nepal, Pakistan and Sri Lanka are members of this apex body. The Institute of Chartered Accountants of India (ICAI) forwarded ONGC’s entry to SAFA for consideration of this prestigious award.
The Awards under different categories are conferred on the basis of evaluation administered by SAFA’s committee for Improvement in Transparency, Accountability and Governance of the published annual reports of entries from South Asian Countries. The top honour went jointly to Bank of Ceylon and People’s Bank, Sri Lanka.
The prestigious award was presented by Shri Surendra Pandey, the Honourable, Finance Minister of Nepal at a glittering ceremony held on 12.12.2010 at Kathmandu, Nepal. The award was received by Shri D. Dhandapani, Group General Manager – Chief Corporate Finance and Shri S.K.Rajput, General Manager(Finance) – Head Corporate Accounts on behalf of ONGC.
Commenting on this award, Mr. R.S. Sharma, CMD, ONGC acknowledged that this award is recognition to ONGC’s quality of Accounts and their effective presentation, greater transparency and data sharing with stakeholders and sound governance practices.
ONGC also has the distinction of getting Nil comments from Statutory Auditors as well as Comptroller and Auditor General of India (CAG) continuously during each of last four years.