Adjudication
Process

  

The adjudication process comes under the supervision and direction of an Adjudication Committee, which comprises five members. The decision of the Adjudication Committee, with regard to the NACRA results, shall be final and binding.
Assessment of annual reports will be carried out by a panel of more than sixty adjudicators drawn from the securities industry, accountancy profession, commerce and industry and academic institutions.
 

Preliminary Screening

Preliminary Screening

  

Detailed Adjudication
Public Listed Companies
 Annual reports of public-listed companies with financial year ended in 2002 will automatically qualify for the competition and will undergo a preliminary screening process. Only those reports which meet the preliminary screening criteria will be selected for detailed adjudication.
The Criteria for preliminary screening are as follows:

  • Promptness of publication, i.e. published annual report received by  KLSE within six months after the year-end.

  • Auditors' report is neither qualified nor contains “emphasis of matter”, other than due to the true and fair over-ride as permitted under section 174(2)(aa) of the Companies Act, 1965.

  • Compliance with all applicable approved Accounting Standards other than due to the true and fair over-ride as permitted under section 174(2)(aa) of the Companies Act, 1965

  • Availability of at least three years' financial highlights and historical summary.

  • Information on shareholders' statistics as required by the KLSE Listing Requirements.

  • Particulars of properties as required by the KLSE Listing Requirements.

  • Information on the composition and terms of reference of the Audit Committee.

  • Availability of a fully-translated Bahasa Malaysia annual report.

  • No public sanction by the KLSE or Securities Commission on the company's affairs.

  • Companies should not be under Section 176 scheme.

  

Detailed adjudication will be carried out in two stages:-

First Stage:
Reports will be scrutinised and marked within industry groups. Each industry category will have a panel of five adjudicators appointed by the Adjudication Committee. The annual report which achieves the highest level of overall excellence in the industry group will be considered for the Industry Excellence Award.

Second Stage:
 Reports which are nominated by the industry group adjudicators for the Overall Excellence and Presentation Awards will be subject to a second round of adjudication. The reports will be marked by a panel of adjudicators appointed by the Adjudication Committee.