TAGS awards to promote transparency, good governance, and accountability across industries
While financial and non-financial reporting standards have been elevated in Sri Lanka by the Institute of Chartered Accountants, the TAGS awards have also helped promote transparency, good governance, and accountability across industries, says Heshana Kuruppu, President of CA Sri Lanka.
During a media briefing held at the CA Sri Lanka institute in Colombo last Tuesday to announce the opening of applications for this year’s 60th anniversary TAGS awards, Mr. Kuruppu said that the diamond chapter of the TAGS Awards 2025 marks 60 years of unwavering commitment to advancing excellence in corporate reporting.
“Further, as CA Sri Lanka enters a new era, having celebrated 65 years of service to the nation last year, we take pride in our leadership role in shaping the corporate sector, supporting capital market development, and contributing to vital areas such as taxation reform and sustainability.”
TAGS awards have not only elevated standards in financial and non-financial reporting but also helped promote transparency, good governance, and accountability across industries, noted Mr. Kuruppu while adding, “As we embrace digital transformation and integrate technologies such as artificial intelligence, we are committed to driving the next phase of innovation and resilience in corporate reporting.”
Eligibility for the TAGS awards 2025 is open to any listed or non-listed companies, not-for-profit organisations, non-governmental organisations, and small and medium sized enterprises that publish an annual report containing audited financial statements. Non-listed export companies with revenue exceeding US$ 50 million may apply for the sustainability and governance awards even if they do not publish an annual report with audited financial statements.
Among the key updates this year is the introduction of a new category titled ‘other financial institutions not specifically stated in any other category’ designed to better reflect the diversity of financial entities. The manufacturing sector has been restructured into three distinct turnover-based groups to allow for more equitable assessment across varying scales of operation. Categories such as ‘construction and related services’ and ‘telecommunication and platform (digital) companies’ have also been renamed and refined to align with evolving industry landscapes.
This year’s competition particularly emphasises on recognising reports that highlight sustainability practices, digital transformation and innovative approaches in corporate reporting. Closing date for applications is August 15. Organisations can submit their applications either online or via paper-based forms. The awards ceremony will be held in December in Colombo.
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