Monday, March 11, 2013

Akshaya Patra Receives Three Prestigious Gold Award

Akshaya Patra receives Gold Award at LACP 2011/12 Vision Awards  

The League of American Communications Professionals (LACP) has honoured The Akshaya Patra Foundation with a Vision Award in Gold in recognition of Akshaya Patra´s 2011-12 Annual Report. This is the second consecutive LACP Award for the Foundation. The 2011/12 Vision Awards Annual Report Competition received more than 5,500 entries from across more than two-dozen countries and across all industry types. 

Akshaya Patra has received two LACP Awards at the 2011/12 Vision Awards Annual Report Competition. One it received Gold Award for excellence within its industry (Non-Profit-Organization) on the development of the organization’s annual report for the past fiscal year. Second, the Foundation has been recognized for developing one of the Top 100 Annual Reports Worldwide and is ranked at 30th. In the last fiscal year, Akshaya Patra’s Annual Report was ranked 73rd worldwide and this year it has climbed the ladder by 43 positions. 

The Foundation is proud to receive this award and is further motivated to work towards its cause. Akshaya Patra implements the mid-day meal programme under the aegis of the Central and various State Governments. Currently, it is feeding 1.3 million children across 19 locations of 9 Indian states covering more than 9000 schools everyday. The mission of Akshaya Patra is to feed 5 million children by 2020.

Akshaya Patra receives Gold Award at PRCI Corporate Collateral Awards 2013

The Public Relation Council of India (PRCI) recently held its 7th Annual Global Communication Conclave at Hyderabad. It was a two-day Global Meet and the agenda included: Induction of PR Professionals into Hall of Fame; Chanakya Awards for Achievers; followed by Corporate Collateral Award. The Akshaya Patra Foundation received a Gold Award in PRCI Corporate Collateral Awards-2013. 

PRCI is a National Body of professionals from Public Relations, Corporate Communications, Advertising, Media, Event Managers and Academicians. It was established in 2004 and is headquartered in Bangalore. It is spread across India in 23 centres. The PRCI’s Corporate Collateral Awards recognizes professional standards in communication support material in the categories like Annual Report, Corporate Brochures, Newsletters, and the like. Gold, Silver and Bronze are the awards for each category. Akshaya Patra bagged the Gold Award in the category of Corporate Brochure. 

The Akshaya Patra Foundation receives ICAI Gold Shield Award for the 4th consecutive year

The Akshaya Patra Foundation has been conferred the ICAI Gold Shield Award for the 4thconsecutive year. This is the highest award given by the Institute of Chartered Accountants of India (ICAI) for Excellence in Financial Reporting. Akshaya Patra bagged this award for the Annual Report 2011-12. The Award ceremony was held in Mumbai recently, as a part of the International Conference held by ICAI. Dr Ashwani Kumar, Honourable Union Minister for Law and Justice presented the Gold Shield Award to Akshaya Patra representatives. V.N Kaul, the former Comptroller & Auditor General of India, who was the Chief of the Jury for these awards, and was also present during the award ceremony. We were also recognized as the first NGO in India to comply with the International Financial Reporting Standards (IFRS).
All the awardees including Akshaya Patra have been selected by the panel of judges on review of accounting practices adopted by the participating enterprises in the preparation of financial statements and the policies adopted for disclosure and presentation of financial statements and other information in the annual reports without regard to the financial condition and operating performance. ICAI adopts a very rigorous process for identifying the deserving awardees. Akshaya Patra has been awarded after considering some of the key parameters such as:

• Compliance with statutory requirements and requirements of concerned regulators for preparation and presentation of Financial Statements;
• Quality of financial information as judged from the qualifications in the auditor’s report; and 
• The extent, nature and quality of non financial information presented in the annual report.
Though there are no established reporting norms / standards applicable to our Foundation (since we are an NGO registered under the Indian Trusts Act,1882), we have taken the initiative to comply with the IFRS as well as the Revised Schedule VI format of presentation of Financial Statements under the Indian GAAP (Generally Accepted Accounting Practices). This also demonstrates the level of transparency in our financial reporting. 

The Vice Chairman, Chanchalapathi Dasa said, “The ICAI Award is a testimony to the transparent and responsible usage of funds by Akshaya Patra. This is a moment of celebration for all of us at Akshaya Patra and at the same time it has strengthened our commitment to reach out to more children.”

The Akshaya Patra Foundation is a Bangalore based NGO implementing the Mid-Day Meal programme in Government schools and Government-aided schools. It is currently operating in 19 locations in 9 states of India. Through this programme Akshaya Patra feeds 1.3 million children across India everyday. It aims to feed 5 million children by the year 2020.

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