Rio Paranapanema Energia S.A, one of CTG Group’s companies in Brazil, is among the winners of the 21st Transparency Trophies which honor organizations with the most transparent financial statements in the Brazilian market. The award ceremony, to be held in October in São Paulo, will recognize Rio Paranapanema in the “Companies with net revenue of up to R$5 billion” category.
“It is an honor to be a recipient of the Transparency Trophy,” said Li Yisheng, CEO of CTG Brasil. “This recognition confirms the commitment of our team to the quality of our financial statements, creating value for our internal public as well as for our shareholders and investors.”
Considered the “Oscar of Brazilian Accounting”, the award was created in 1997 and is an initiative by the National Association of Executives in Finance, Administration and Accounting (ANEFAC) in partnership with the Accounting, Actuarial and Financial Research Foundation (FIPECAFI) and Serasa Experian.
Twenty-five companies were selected based on the quality and level of information contained in their financial statements and explanatory notes, the transparency of the information provided and the clarity of the Management Report and its consistency with the information disclosed.