Braskem was awarded the Transparency Trophy for the first time last 25th. The trophy is awarded to public and privately held companies who present the best quality balance sheets in the country.
"This award recognizes the quality of the communication employed at Braskem. It reinforces the attitude of transparency and respect that guides the company’s relationship with it different publics," says Joel Benedito, responsible for the Accounting area at Braskem. "Transparency and communication with our investors, suppliers, customers and general public are our priorities," he adds.
The Transparency Trophy began in 1997 with the objective of publicly recognizing the best financial statements published in Brazil. It was created by Anefac (National Association of Finance, Administration and Accounting Executives), the award, now in its 11th edition, is technically supervised by Fipecafi (Financial, Accounting and Actuarial Research Foundation) and sponsored by Serasa.
The choice of champion companies results from the prior analysis of balance sheets from the largest private organizations made by students in Master’s and PhD courses in Controllership and Accounting at USP.
The criteria examined includes items such as balance sheets, income statements for the fiscal year, statements of changes in assets and liabilities, statements of cash flows, explanatory notes, comparative statements, administrative reports and independent auditor opinions, among others. The disclosure of relevant aspects, not legally required, but important to business, is also analyzed. This includes cash flow, statement of added value, EBITDA and economic value added.