Annual Reports Competition, presented by the Bermuda Branch of the Institute of Chartered Secretaries and Administrators (ICSA).

ICSA has set next week Friday as a closing date for entries for the second annual event.

Last year's winners were BELCO Holdings Ltd. in the local division and The Bank of N.T. Butterfield & Son Ltd. in the international companies division.

The banks were included in the international groupings because of their high capitalisation and diverse business holdings overseas.

Local and international companies will submit copies of their most recent annual reports, for the period between April 1, 1995 and March 31, 1996, for consideration.

A panel of judges will examine entries and award points on a scale of one to ten on categories that include Comprehension, Public Relations/Marketing, Conformity and Professionalism.

Comprehension will focus on layout, logic, relevance, explanatory notes, brevity and clarity.

Public Relations/Marketing involves the president's report, innovation/creativity of presentation and communications to shareholders and the public.

Conformity issues include accounting standards (GAAP) and legal requirements.

And the Professionalism category will consider attention to detail together with errors and omissions.

Three of the four judges from last year have returned for this year's adjudication.

The panel includes retired executive vice president of the Bank of Bermuda William D. Thomson; retired partner of Ernst & Young Michael Kirkwood; Anfossi & Butterfield partner Mark Smith CA; Chartered Financial Analyst and Chartered Secretary Jamsheed Khan, ex-Bermuda Monetary Authority and Bermuda College; and Chartered Secretary, CEO and partner at Appleby, Spurling & Kempe, James S. Jardine CA.

The newcomer to the panel is Mr. Smith, who replaces Mr. David Boden of his firm.

Vice president of the Bermuda Branch for The Institute of Chartered Secretaries and Administrators, Canada, Richard Jenkyn FCIS, said that again this year inscribed trophies will be presented to the division winners.

And he emphasised that all entries are treated as confidential and will be returned upon request.

A PAGE OUT OF BELCO'S BOOK -- Local and international companies are being asked to see how their annual reports measure up against their competition.

Last year, the Bank of Butterfield and Belco won the competition. Shown above is one of the pages from Belco's report.