THE National Board of Accountants and Auditors (NBAA) has declared the Tanga- based cement factory as an overall winner in terms of well audited financial statements.

Tanga Cement Company which got the award here last weekend beat other manufacturing entities such as the Tanzania Cigarette Company (TCC) of Morogoro which took the second position, and Tanzania Portland Cement Company which became third.

NBAA also named the Local Authorities Pension Fund (LAPF) as the best, in the social security fund's category.

"LAPF emerged the best in terms of presenting well audited financial statement for 2011, outsmarting several others in the social security funds category," the NBAA Governing Board Chairman, Dr Mussa Assad,stated during the award giving ceremony which ran insync with the recently held Annual Accountants Conference that took place here last week.

Dr Assad explained that the LAPF financial statement of the year was done in accordance with international financial reporting standards.

The Chief executive officer of the Pan African Federation of Accounts (PAFA), Mr Vickson Nkube, handed over the prize to LAPF Director of Finance, Mr John Kida, on behalf of the fund's Director General, Mr Eliud Sanga, during the event.