18th August 2016: The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), is now accepting applications for the coveted 52nd Annual Report Awards Competition, which is one of the most celebrated corporate events in the country.
The competition which has created an important benchmark as an event that promotes transparency, good governance and social responsibility among corporates both big and small will revolve around the theme ‘Precision Exemplified’ this year.
In a history spanning over five decades, the Annual Report Awards Competition has helped organisations in Sri Lanka improve transparency and accountability in financial reporting, while also enhancing Sri Lanka’s reporting standards in line with global best practices.
This year too as in other years, the prestigious awards ceremony will honour the most cohesive, clear and customized annual reports that best reflect an entity’s operations, which has also gone beyond the statutory boundaries of reporting.
The competition is open to any organisation ranging from multinationals, conglomerates, NGOs, to SMEs that produces an annual report. Entries for the 52nd Annual Report Awards Competition will close on 9th September 2016. The winners will be announced in December this year.
President of CA Sri Lanka Mr. Lasantha Wickremasinghe said that with Sri Lanka progressing towards enhanced economic and infrastructure development, transparency, accountability and good governance are vital and important components in strengthening the country’s financial landscape, which will complement this development drive.
“The Annual Report Awards has set an important benchmark among both large and small corporates, by assisting them in their relentless pursuit to be the best while also being corporates that are responsible, transparent and accountable,” he said.
Mr. Wickremasinghe said that last year the competition received the highest number of entries. “This is encouraging because it means more and more organizations understand the importance of transparency, good governance and responsibility,” he said.
Chairman of the Annual Report Awards Committee 2016, Mr. Sanjaya Bandara said that an organization needs to incorporate vision, swiftness, strength and power to progress ahead.
“To complement this forward march, the Annual Report Awards Competition in its 52nd year will revolve around the theme ‘‘Precision Exemplified’ which exemplifies these important aspects, which are a requirement for any corporate, in its efforts to strengthen the core elements of transparency, good governance, and social responsibility,” he said.
Mr. Bandara invited organisations to take part in this year’s competition which, according to him, will bring renewed reputation to corporates in Sri Lanka.
Chief Executive Officer of CA Sri Lanka, Mr. Aruna Alwis said that since its launch in 1964, the Annual Reports Awards Competition has been a pioneer in helping the corporate sector boost its transparency and accountability elements in financial reporting.
“Taking the current context into consideration, the Annual Report Awards is a most warranted competition as it strongly advocates transparency, accountability and good governance among Sri Lanka’s diversified business sector,” he added.
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