Usiminas is awarded for quality of financial information
Usiminas received last week in São Paulo, the Transparency Award 2013, awarded by Anefac . The award recognizes the quality of the financial information published by the company. Among the criteria evaluated are the consistency and clarity of financial demonstrations.
From a survey conducted by the National Association of Executives in Finance, Management and Accounting ( Anefac ) , Usiminas was recognized by the 11th consecutive year among the twenty most transparent companies in Brazil , in the category of Companies with open capital and net sales exceeding 5 billion reals . The jury assessed the financial statements in 2012, mainly on technical issues as compliance with accounting principles, external auditors' report, overall presentation and disclosure of relevant aspects of the company additional to those required by law.
According to Marcos Aurélio Alves, Usiminas Accounting Manager, the trophy is the most important award in the Brazilian accounting. “The technical rigor, seriousness and methodology used in the selection of companies is a recognition of the quality of financial statements disclosed by Brazilian companies. The fact that Usiminas has been once again among the winners is the recognition of the team work who seeks to provide quality public information. It is an incentive to constant improvement to keep the company at levels of excellence, “he says.
The Transparency Award was established by Anefac in 1997 to recognize and encourage the adoption of best corporate governance practices in the financial field. The award includes a technical assessment of the Research Institute of Accounting, Actuarial and Financial (FIPECAFI) and with the encouragement of Serasa Experian. For the 2013 edition, the jury evaluated rigorously more than 2,000 financial statements. It´s worth to remind that the selection is made based on the balance published by the market.