NMB bags NBAA’s best presented financial statements award

10Dec 2019
Correspondent
The Guardian
NMB bags NBAA’s best presented financial statements award

 NMB Bank Plc has been given National Board of Accountants and Auditors (NBAA)’s best presented and internationally recognized standards financial statements award for 2019 in the big commercial bank category.

NMB's acting Chief Finance Officer, Benedicto Baragomwa with peers showing NBAA’s ‘Best presented financial statements in big commercial banking category award after receiving it from Deputy Permanent Secretary at Ministry of Finance and Planning, Amina Shabani during a ceremony held over the weekend in Dar es Salaam. Photo courtesy of NMB.

NMB has won the award for the second consecutive years. At a ceremony held in Dar es Salaam last weekend, NBAA said NMB’s financial statement was outstanding hence the judges awarded the bank for such excellent presentation.

 

The award which is regarded as gauge for financial reporting prowess among companies in the country and which passes through a rigorous screening process overseen by seasoned judges with diverse backgrounds and use International Financial Reporting Standards (IFRS), confirmed the Dar es Salaam based lender’s professionalism.

The NBAA judges said the criteria used to select the winners included those who scored over and above 75 percent of the set criteria.

Speaking after receiving the award, NMB’s acting Chief Financial Officer, Benedicto Baragomwa said as professionals they attach great importance in preparing the listed company’s books of accounts in accordance with IFRS system.

“This victory demonstrates how we are committed to maintaining the highest professional integrity in presentation of our financial statements,” Baragomwa said after receiving the award from Deputy Permanent Secretary at Ministry of Finance and Planning, Amina Shabani.

“Our financials are prepared in accordance and compliance with IFRS and local requirements, we met the disclosure requirements which is why we emerged as winners for the second year running,” he added.

He said the bank and its staff are proud to win the prestigious award from NBAA whose objective is to promote good corporate accounting in the domestic market. “This is the best platform for promoting professionalism and excellence in the presentation of financial statements of companies,” he added.

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