Nine public sector organisations recognised for high-quality financial reporting

Wednesday, 31 October 2018 00:00 -     - {{hitsCtrl.values.hits}}

CA Sri Lanka APFASL Best Annual Reports & Accounts Awards 2018


Several of Sri Lanka’s top public sector organisations, including universities, ministries and departments among others, were honoured for their high-quality financial reporting at the second Best Annual Report and Accounts Awards for the public sector, organised by the Association of Public Accountants of Sri Lanka (APFASL), which is the public sector wing of CA Sri Lanka. 

A total of 26 public institutions were honoured at the awards ceremony with nine public sector organisations winning the main awards which were categorised into nine sectors covering universities, research institutions, statutory boards, ministries, departments, provincial councils, urban councils, municipal councils and pradeshiya sabhas. 

The University of Moratuwa was adjudged the winner under the Universities category, while the University of Peradeniya was adjudged the first runner-up and the University of Sri Jayewardenepura was the second runner-up, while the Open University of Sri Lanka, Wayamba University, Buddhist and Pali University, University of Colombo and University of Sabaragamuwa received compliance awards.

Under the Research Institutions category, the National Engineering Research and Development Center was adjudged the winner while the Industrial Technology Institute was the first runner-up. In the Statutory Board sector, the winner was the Sri Lanka Accreditation Board for Conformity Assessment, while the Marine Environment Protection Authority was the first runner-up and the Coconut Cultivation Board came in as the second runner-up. 

The Ministry of Provincial Councils and Local Government won under the Ministry category, while under the Department sector, the Excise Department was adjudged the winner, with Sri Lanka Air Force coming in as the first runner-up. 

Under the Provincial Councils sector, the North Central Province Provincial Council was adjudged the winner, while the Northern Province came in as the first runner-up. In the urban councils sector, the winner was the Balangoda Urban Council while the Kalutara Urban Council was the first runner-up. Under the Municipal Councils category, the Dehiwala-Mount Lavinia Municipal Council was adjudged the winner, while the Kandy Municipal Council was the first runner-up in the same category. 

A total of four awards were given under the pradeshiya sabha sector, with the Manmunai Pradeshiya Sabha, Arayampathy being adjudged the winner while the Naththandiya Pradeshiya Sabha was adjudged the first runner-up and the Karuwalagaswewa Pradeshiya Sabha received the award for second runner-up. The Nikeweratiya Pradeshiya Sabha received an award of compliance in the same category. 

The Best Annual Report and Accounts Awards, which was organised for a second consecutive year, was held alongside the annual Chartered Public Finance Accountancy (CPFA) Convocation, where public sector accountants and auditors were conferred with the qualification specially developed by APFASL and the Chartered Institute of Public Finance and Accountancy (CIPFA) London, to help strengthen public sector financial management in Sri Lanka. 

CA Sri Lanka President Jagath Perera said that the institute had always been conscious of the critical anchor role the public sector plays in the economic development and progress of the country, and therefore to fulfill an important need, CA Sri Lanka, together with its public sector wing, took steps to strengthen the public sector and also the skills and expertise of public sector officials by launching various important initiatives including the public sector awards and the CPFA qualification. 

APFASL President V. Kanagasabapathy said that the association had launched the Best Annual Report and Accounts Awards for the Public Sector in an effort to improve the quality of annual reports and accounts published by the public sector, thereby helping to improve transparency and accountability in financial reporting.