BEST PRESENTED FINANCIAL STATEMENTS OF THE YEAR 2008 AWARDS

The NBAA Governing Board in its 124th meeting held on 10th July 2003 approved the idea
of introducing the “Best Presented Financial Statements of the Year” awards effective from
the calendar year ended on 31st December 2004. This award aims at improving financial
reporting in the country and assessing on how entities have complied with the requirements
of the International Financial Reporting Standards (IFRSs).
This year NBAA invited firms to participate in this award and twenty nine (29) financial
statements were received from various entities. The financial statements received were
examined and evaluated by a team of experts and later the NBAA Governing Board
approved the results as follows:

(a) Overall Best Presented Financial Statements:
TANGA CEMENT COMPANY LIMITED
(b) Best Presented Financial Statements for Banks and Financial Institutions
1st – Exim Bank (T) Limited
2nd – Stanbic Bank (T) limited
3rd – NMB PLC

(c) Best Presented Financial Statements for Manufacturing and Distribution

1st – Tanga Cement Company Limited
2nd – Tanzania Cigarette Company Limited
3rd – Swissport Tanzania Limited

(d) Best Presented Financial Statements for Government Institutions

1st – Tanzania Cotton Board
2nd – Tanzania Revenue Authority (TRA)
3rd – Public Procurement Regulatory Authority (PPRA)

(e) Best Presented Financial Statements for Pension and Social Security
Funds

1st – Local Authority Pension Fund (LAPF)
2nd – Government Employees Provident Fund (GEPF)
3rd – National Health Insurance Fund (NHIF)

(f) Best Presented Financial Statements for Insurance Sector
Tanzania National Reinsurance Corporation

The Board would like to congratulate the winners for the good job done in preparing the
accounts of their entities in compliance with the International Financial Reporting
Standards (IFRSs).
We would also like to congratulate all the entities which participated in the exercise and
encourage more entities to participate in the future events.
Detailed results of the examination of the presented financial statements will be forwarded
to all the entities which participated in order to assist them to know their areas of strengths
and weaknesses for future improvements.

Store source: Daily News, December 23,2009; http://www.nbaa-tz.org

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