Strong showing for PotashCorp at the Awards of Excellence in Corporate Reporting

PotashCorp was a multiple winner and captured the Overall Award of Excellence. — Photo courtesy PotashCorp

TORONTO, Dec. 3, 2014 /CNW/ - PotashCorp owned the podium at the 2014 Awards of Excellence in Corporate Reporting, presented annually by the Chartered Professional Accountants of Canada (CPA Canada).

PotashCorp was a multiple winner and by capturing the Overall Award of Excellence ended a streak of four straight years in which the top prize went to TELUS.

The awards are the most prestigious and coveted national honours for corporate reporting in the country. However, the program is about more than just winning. CPA Canada's ultimate objective with this program is to raise the bar when it comes to corporate reporting practices in Canada.

In total, 21 awards were presented this evening to winners from both the corporate and public sectors at a gala event in Toronto (a complete list of winners is below).

"PotashCorp displays an impressive commitment to corporate reporting and a dedication to ongoing excellence," said Kevin Dancey, president and CEO, CPA Canada. "Congratulations to PotashCorp for its outstanding achievements recognized by the four honours it received at this year's ceremony."

In addition to the top award, PotashCorp also collected Awards of Excellence in the mining sector and in the Financial Reporting category, as well as the Honourable Mention in the Corporate Governance category.

"At PotashCorp, we believe that clear and transparent reporting is an essential part of building the trust and support of our investors, customers, employees and communities," said Denita Stann, the organization's vice-president of investor and public relations. "We strive to communicate what matters most to these users - and in a manner that clarifies how our strategies and performance help create long-term value. Beyond the honor of being recognized as a top reporter by CPA Canada, the feedback we obtain helps us continue to improve our reporting for the benefit of our stakeholders."

TELUS, another titan in corporate reporting, received three honours this year, including the Award of Excellence for the communications and media sector. In the judging categories, it captured the Award of Excellence for Corporate Governance along with an Honourable Mention for Financial Reporting.

"Both TELUS and PotashCorp have dominated the program for many years," commented Dancey. "Each has contributed to setting a high benchmark for other companies to meet."

Bombardier Inc. and Suncor Energy were other multiple award winners, each being honoured twice.

In the Crown corporation category, Awards of Excellence in Financial Reporting went to Canada Mortgage and Housing Corporation (Federal-Large), Telefilm Canada (Federal-Small) and SaskPower (Provincial).

"We applaud all entrants for submitting their reports for rigorous review by the panel of judges," said Dancey. "Each participant receives a confidential assessment of its reporting materials to help the organization improve year-over-year. The participants are dedicated to building trust with investors or stakeholders through reports that are relevant, clear and easily understood."

CPA Canada also thanked the sponsors of the awards program.

CNW Group
Listed
PwC
TMX Toronto Stock Exchange

Background

The program has recognized the best reporting practices in the country for more than 60 years and honours Canadian listed companies and Crown organizations.

Publicly listed companies vie for awards within their industry sector as well as in the four judging areas: financial reporting, corporate governance disclosure, electronic disclosure and sustainability reporting.

Federal and provincial Crown corporations are assessed on financial reporting practices.

For more information, visit cpacanada.ca/CRawards.

2014 Winners

Here is a list of winners of 2014 Awards of Excellence in Corporate Reporting:

Overall Award of Excellence in Corporate Reporting PotashCorp

Crown corporations

· Federal (Large) Canada Mortgage and Housing Corporation

· Federal (Small) Telefilm Canada

· Provincial SaskPower

Industry sectors

· Clean Technology Newalta Corporation

· Communications and Media TELUS

· Consumer Products and Services Tim Hortons

· Diversified Industries Bombardier Inc.

· Financial Services Scotiabank

· Industrial Products and Services Finning International Inc.

· Mining PotashCorp

· Oil and Gas/Forestry Products Suncor Energy

· Utilities and Pipelines/Real Estate Enbridge Inc.

Judging categories

Financial Reporting

· Award of Excellence PotashCorp

· Honourable Mention TELUS

Corporate Governance Disclosure

· Award of Excellence TELUS

· Honourable Mention PotashCorp

Electronic Disclosure

· Award of Excellence Goldcorp Inc.

· Honourable Mention Teck

Sustainability Reporting

· Award of Excellence Suncor Energy

· Honourable Mention Bombardier Inc.

About CPA Canada

Canada's accounting profession is uniting under a new single designation, Chartered Professional Accountant (CPA). The profession's national body, Chartered Professional Accountants of Canada (CPA Canada), represents and supports more than 190,000 members across the country. CPAs are valued for their financial and tax expertise, strategic thinking, business insight, management skills and leadership. CPA Canada has consolidated the operations of three national accounting bodies: The Canadian Institute of Chartered Accountants, the Certified General Accountants of Canada and The Society of Management Accountants of Canada. CPA Canada conducts research into current and emerging business issues and supports the setting of accounting, auditing and assurance standards for business, not-for-profit organizations and government. It also issues guidance on control and governance, publishes professional literature and develops certification and continuing education programs.

Our thanks to CNW Group for sponsoring this announcement

SOURCE CPA Canada