Nucleus Software Awarded Gold Shield For Financial Reporting By ICAI

Nucleus Software, a provider of integrated software products for banks and financial institutions, has announced that the Annual Report and Accounts of the Company for year ended March 31, 2011, have been adjudged as the best under the Category XI – Service Sector (Other than financial services sector, transport, shipping and shipping/port allied services. Turn over less than Rs. 500 crore) of the ‘ICAI Awards for Excellence in Financial Reporting’. Nucleus Software has won Gold Shield for the fourth consecutive year.

The awardees were 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 their financial condition and operating performance. On the basis of degree of compliance with the Accounting Standards, statutory guidelines and other relevant pronouncements, the Gold Shield is awarded to the best entry.

“Winning this esteemed award for the fourth consecutive year is a clear testimony of our long standing belief in best corporate practices. This award reiterates our commitment to transparency in our statutory, legal and regulatory requirements and compliance with the accounting and financial reporting practices. We aim to build stronger policies for corporate governance in the years to come and set new milestones for the industry,” said Vishnu R. Dusad, CEO & Managing Director, Nucleus Software.