USP won the SPSE Annual Report Competition for the sixth year in a row, in the ‘Co-operatives, Non-Profit and Charitable Organisations’ category.
The University of the South Pacific (USP) won the South Pacific Stock Exchange (SPSE) Annual Report Competition for the sixth year in a row, in the ‘Co-operatives, Non-Profit and Charitable Organisations’ category on 22 November, 2016.
Professor Rajesh Chandra, Vice-Chancellor and President of USP said the University is delighted with yet another win.
“This award reflects continuing improvement in the governance of the University, the quality of work that is reported and the high editorial standards through the efforts of the Director of Development, Marketing, Communications and Alumni Affairs, Mr. Jaindra Karan.”
“I congratulate Mr. Karan on his leadership of the Annual Report team and staff who have contributed towards the excellent report,” Professor Chandra noted.
Mr Karan said the University was elated and attributed the win to team work. He said they ensured that USP lives up to a very transparent reporting system.
“Preparation of the Annual Report is a challenging exercise both in terms of quality and timeliness,” he noted.
The Annual Report he said, is one of the marketing tools for the University as it tells the public what USP does is in terms of the provision of quality tertiary education and being a member of the Council of Regional Organisations of the Pacific (CROP),” he further noted.
Mr Karan added that USP is a quality institution and it is renowned for its work in the region.
Dr Nur Bano Ali, Chairperson of the SPSE Board said the awards competition is an initiative that seeks to promote and inculcate the culture of quality disclosure by stakeholders in Fiji and the region.
“Transparency and accountability are fundamental corporate governing principles that the Stock Exchange and listed companies passionately uphold.
“In fact that is our mandate and we appreciate the fact that we all share the same principles regardless of whether a company is listed or not,” Dr Ali noted.
She said with the assistance of an independent panel of highly qualified judges, the competition offers companies an opportunity to assess and refine their company disclosures which aligns with international best practices.
“This is a platform that is not available nor offered in Fiji and the South Pacific. The competition also encourages additional reporting of valuable non-financial information to enable your stakeholders to make important financial decisions,” she added.
Dr Ali also noted that there were 30 organisations that applied and this was an increase from last year.
Latileta Qoro, Chief Executive Officer, SPSE congratulated the winners of the category saying this will be the final year the awards follow the current format.
“From next year the awards will become part of a bigger competition and will be known as the Stock Market Awards Night where other categories will be recognised and not only corporate governance by companies,” Ms Qoro explained.
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