CMA Sri Lanka President Prof. Lakshman R. Watawala presenting the first copy of ‘CMA Excellence in Integrated Reporting Awards 2018’ to Colombo Stock Exchange CEO Rajeeva Bandaranaike, the supporting partner for the event (from left): CMA Assistant Director – Education and Research Jinandi Chandraratne, CMA CEO Kanishka Jayasinghe, CMA Vice President Hennayake Bandara, CMA President Prof. Lakshman R. Watawala, CSE CEO Rajeewa Bandaranaike, CSE Head of Finance and Administration Kusal Nissanka, CSE Head of Market Development Niroshan Wijesundere
The Institute of Certified Management Accountants of Sri Lanka (CMA) is organising the ‘CMA Excellence in Integrated Reporting Awards 2018’ for the fourth consecutive year and the awards ceremony will be held on 5 July at Cinnamon Lakeside, Colombo. The keynote speaker at this event will be International Federation of Accountants (IFAC) President Rachel Grimes.
The purpose of the Excellence in <IR> Awards is to promote Sri Lankan companies, banks, finance, insurance, hotels, plantations, conglomerates, industry and commerce, non-profit making institutions in education, chambers of commerce, companies listed on the stock exchange, unlisted companies, state owned enterprises, small and medium sector to undertake Integrated Reporting which will be of immense benefit to investors and stakeholders.
The International Integrated Reporting Council (IIRC) the world body has issued the <IR> framework in December 2013. The International Integrated Reporting Council (IIRC) is a global coalition of regulators, investors, companies, standard setters, the International Federation of Accountants (IFAC) which includes the accounting profession and NGOs. The coalition is promoting a more cohesive and efficient approach to corporate business reporting as well as to improve the quality of information available to shareholders, communication about value creation as the next step in the evolution of corporate reporting.
This year CMA Excellence in Integrated Reporting Awards has the Colombo Stock Exchange (CSE) as its Supporting Partner. With this linkage we are hopeful will have a positive impact in promoting Integrated Reporting among public quoted companies and its implementation.
Rachel Grimes in her message for the CMA Excellence in <IR> Awards 2018 stated: “In today’s technology driven environment, the evolving demands of organisations and citizens require professional accountants to contribute to the management and reporting of value creation in a way that drives both growth and corporate responsibility.”
“The future accountant needs to provide information and analysis that supports decisions about all aspects of an organisation. A professional accountant in business or the public sector needs to be able to answer the question, ‘What is driving value creation and preservation in the present and future, and how is my organisation responding to opportunities and risks?’.”
This year CMA has opened the competition to a wide range of business sectors viz; listed companies, unlisted companies, banks, finance, insurance, hotels, plantations, conglomerates, state owned enterprises, NGOs and NPOs and small and medium enterprises (SME) and the categories of awards are as follows:
- 10 Excellence in <IR> Awards
- Overall Winner – Gold Trophy
- Overall 1st Runner-up – Silver Trophy
- Overall 2nd Runner-up – Bronze Trophy
- Merit Award for Integrated Thinking
- Certificates of Merit
- Sector Awards:
- Industry and Commerce
- State Owned Enterprises
- NGOs/NPOs/Educational Institutes/Chambers of Commerce
- Small and Medium Enterprises
- Special Awards:
- Value Creation
- Strategic Focus
- Most improved Integrated Report
- The closing dates are as follows:
- 18 May 2018 – Institutions whose financial year ends on 31 December 2017
- 11 June 2018 – Institutions whose financial year ends on 31 March 2018
The Mark Plan for judging Integrated Reports will be based on the Guiding Principles, Content Elements and Fundamental Concepts which appear in the International <IR> Framework issued by the International Integrated Reporting Council (IIRC) and special emphasis will be given to the following criteria.
- Strategic Focus and future orientation
- Connectivity of information
- Value Creation
- Reliability and completeness
For any further information or clarification please contact Jinandi Chandraratne on 011-2506391 (154)/011-3158050 or email firstname.lastname@example.org.