2017 marks the tenth edition of the awards, jointly organised by VIR, Ho Chi Minh City Stock Exchange (HOSE), and the Hanoi Stock Exchange (HNX), with support from Dragon Capital.
Out of the 638 eligible reports submitted by firms listed on the HOSE and the HNX, 125 made it to the final round. The judges hand-picked 50 reports to honour at the award ceremony, divided into the Top 10, the Top 30, and the Top 50.
Some companies earned bonus points for preparing their reports under International Financial Reporting Standards (IFRS) and for providing an English version.
For the first time ever, the reports in the 2017 ARAs were evaluated by four leading audit firms, Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers. The number of judges also increased from seven to nine, with new members from the Vietnam Securities Depository and the Vietnam Chamber of Commerce and Industry.
As in previous years, firms with outstanding reports on corporate governance and sustainability were also honoured.
“Throughout the past ten years, the ARAs have been tirelessly promoting information transparency in Vietnam,” said VIR’s editor-in-chief Le Trong Minh.
Le Hai Tra, deputy CEO of HOSE, stressed that annual reports, and information disclosure in general, are vital for Vietnamese companies to attract overseas funding.
Looking forward, the ARA’s organisers expect to invite a wider variety of business groups, professional circles, and policymakers from Vietnam and overseas to join the Selection Board. This will enhance the objectivity of future ARAs.