BRAZIL - Two composite wood board manufacturers, Duratex and Guararapes, won the 2016 Transparency Award, both in the category “Companies with net income of up to R $ 5 billion” and granted by Anefac Brazil (National Association of Finance, Administration and Accounting Executives).
The Award recognizes best accounting practices by Brazilian companies, focusing on the transparency and objectivity that companies apply when disclosing their financial information to the market.
"This achievement reflects our corporate values to act with integrity and strive for excellence. We believe that transparent companies add credibility, trust and sustainability to the business," noted Juan Bautista Sevilla, executive Comptroller manager of Duratex.
In its 20th edition, the Award has recognized 25 Brazilian companies. The company analysis is done by masters and doctoral students of the Economics and Administration Faculty of the USP (University of São Paulo) and endorsed by the Jury after a rigorous evaluation. In 2016 the Transparency Award was reformulated into three categories: Companies with net income exceeding R$ 5 billion, Companies with net income of up to R$ 5 billion and Companies in the energy sector.
