48th CA Sri Lanka Annual Report Awards gets underwayView(s):
The 48th Annual Report Awards competition organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) got underway last week. Registrations for the competition will close on 30th August, the institute said. With increasing emphasis being placed on transparency in operations, good governance, sustainability and social responsibility; an annual report is expected to go beyond providing statutory disclosures and present a holistic view of an organization’s performance, it said.
“The CA Sri Lanka Annual Report Awards Competition aims at ensuring these objectives are met while also encouraging effective communication to stakeholders through publication of informative annual reports, promoting effective presentation of financial and non-financial information, while ensuring that companies comply with legislative requirements and generally accepted accounting practices,” the statement added. CA said the competition is open to any organization that produces an Annual Report, from multinational companies to small time community groups. A total of 22 special categories of awards will be presented to the winner, first and second runners up respectively at the grand finale, scheduled to be held in December this year.
CA Sri Lanka President Mr. Sujeewa Rajapakse said the institute has over its 53-year long existence always endeavoured to set new benchmarks for a better corporate culture in the country. “The annual report is the single most important disclosure of a company. And it is therefore important that companies maintain the highest level of transparency while achieving higher standards,” he noted.
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