|Akshaya Patra bags ICAI gold shield Award for Excellence in Financial Reporting for the second year in succession.|
The Akshaya Patra Foundation, the world’s largest NGO – run midday meal program, has been awarded the Gold Shield for ‘Excellence in Financial Reporting’ by the Institute of Chartered Accountants of India (ICAI) for the second year in succession.
The award was given based on Akshaya Patra’s Annual Report and the Accounts for the year ending March 31, 2010. Akshaya Patra was selected by a panel of judges on the degree of compliance with accounting standards, statutory guidelines and other relevant pronouncements.
The Gold Shield is the top award given by the ICAI and is only given to those organizations with the highest level of accounting practices.
This recognition is reflective of our commitment to achieve high standards of excellence and transparency in our accounting procedures. This award means a lot to us. We’re very proud of achieving this and we thank ICAI for recognizing Akshaya Patra with this prestigious award,” said Chanchalapathi Dasa, Vice Chairman, Akshaya Patra.
Akshaya Patra maintains a commitment to organizational transparency. The organization is audited by M/s BSR & Co, a leading Indian audit firm, to ensure transparency and accountability of its operations. Furthermore, the Foundation is managed by an independent Board of Trustees, many of whom are leaders in the private sector.
Akshaya Patra is also advised in accounting standards and services by the reputed consulting firm KPMG. Akshaya Patra received the award from Salman Khurshid, Hon’ble Union Minister of State for Corporate Affairs, Shri R. Bandyopadyay, Secretary, Ministry of Company Affairs at a function organized for this purpose by ICAI on January 4, 2011 at Vighyan Bhavan, New Delhi.
Among others who were present at the award ceremony include CA. G. Ramaswamy, Vice –President, ICAI, Amarajit Chopra, President, ICAI.
About The Akshaya Patra Foundatio:-
The Akshaya Patra Foundation, a non-profit, secular Trust, evolved the school meal program in the year 2000. It started as a pilot project in five schools in Bangalore, feeding 1,500 children and has now grown into a mammoth endeavour covering over 1.3 million children daily in over 8000 government and government-aided schools in 18 locations spread across eight states in India.
The Foundation expects to reach five million children by 2020. The Akshaya Patra Foundation is an eloquent demonstration of public-private partnership as it is run with part subsidies from the Government, besides financial support from corporates, individuals and philanthropists.