President Mahinda Rajapaksa will grace the golden jubilee of the prestigious Annual Report Awards Competition as the chief guest on Tuesday, 09th December 2014 at the Nulum Pokuna. Minister of Co-Operatives and Internal Trade, Johnston Fernando will be the guest of honour.
The competition organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has set a remarkable benchmark in helping promote transparency, accountability and good governance among organisations that produces an annual report in Sri Lanka.
This year, the competition set a new record after it recorded the highest number of registrations during its half a century long existence, with a total of 130 organisations including leading blue chip companies, conglomerates to small time community groups vying for the coveted awards.
The competition has been an important platform that has helped set high standards among organisations in Sri Lanka line with global standards.
The aim of the awards is to encourage effective communication to stakeholders through publication of informative annual reports; promoting effective presentation of financial and non-financial information; and compliance with legislative requirements and generally accepted accounting practices.
The winners are selected on their ability to communicate the objectives, highlights, performance, personnel and management clearly to an intended audience. The size, resources, complexity and sophistication of operation of each entrant will be considered in the judging process. These awards provide a holistic view of an organisation’s performance, going beyond the company’s bottom-line.
The awards are broken into several categories including; Sector Awards, Corporate Governance Disclosure Award, Corporate Social Responsibility Award, Management Commentary Award, Integrated Reporting Award and the Overall Excellence in Financial Reporting Award. Each category has a gold, silver and bronze award respectively.
