Reportedly, the event, which has been held every year since 2019, was established with the financial involvement of the European Union and the World Bank; as part of the joint accountability project, in partnership with the Accounting Reform’s Stakeholders’ Foundation (RSF). The purpose of the annual award is to encourage healthy competition between companies and raise the overall standard of corporate reporting in the process of increasing investor confidence in the country both locally and internationally.

Niko Gagua opened the award ceremony and spoke about the importance of BARTA's award and focused on BARTA's special contribution to establishing a high standard of transparency in Georgia.

"It is pleasant that year after year the number of companies participating in the competition and the degree of their transparency are constantly increasing. As a result of common efforts, a high standard of transparency was established in Georgia, to which BARTA makes a special contribution. That is why I would like to express my special thanks to the organizers, partners and involved parties of the project. When it comes to financial markets and ethical relationships, the standard of transparency of companies is the basis for a high degree of trust. Accordingly, when a company's financial and management reporting clearly conveys the organization's visions, goals, risk assessment and internal policies, it increases the confidence of investors and consumers," - Niko Gagua said.

The representatives of local and international companies, regulatory organizations, consulting and auditing firms and journalists attended the event. The guests were also addressed by the Regional Director of the World Bank in the South Caucasus, Sebastian Molyneux, and the Acting Head of the European Union Cooperation and Aid Programs Department, Catalin Gherman.