AfricaPress-Tanzania: TANGA Cement Plc emerged the overall winner of the NBAA best presented financial reports for the fifth year in a row for 2019/20.
At a ceremony held in Dar es Salaam at the weekend, NBAA said Tanga Cement’s financial statement standards remained high for the past five years in a row, making it to emerge the overall winner in the category of companies using International Financial Reporting Standards (IFRS).
The award held was the ultimate gauge for financial reporting prowess among companies, which passed through a rigorous screening system overseen by seasoned judges with diverse backgrounds, involves companies using the IFRS.
According to Tanga Cement Chief Accountant Isaac Lupokela, the company has been unsuccessful in terms of the total number of users in the IFRS category for five consecutive years.
Another overall winner for parastatal organisations was Tanzania Revenue Authority (TRA).
In addition, Tanga Cement emerged as the best in the manufacturer category as the best presenting financial reports. Other winners in the same category were Tanzania Breweries Limited (TBL) and Tanzania Cigarette Company Ltd (TCC).
“We are happy for emerging the overall winner as the victory is our fifth consecutive times in the manufacturer category,” Mr Lupokela said.
He noted that every day Tanga Cement Plc wanted to be better than the day before where they had set very high standards for daily operations. “Our company is looking forward to its operations.”
He explained that he always read a lot to make sure every time their accounting system kept abreast of current accounting affairs.
“Everyone who prepares auditing knows that there is a competition behind that gives us a lot of motivation to do better. But professionally large accountants are the ones who make sure companies operate. Properly prepared calculations help those who use them to make better decisions,” he said.
