CMA Excellence in Integrated Reporting Awards 2017

• Applications close on 12 June    

 The Institute of Certified Management Accountants of Sri Lanka (CMA) is organising the ‘CMA Excellence in Integrated Reporting Awards 2017’ for the third consecutive year and applications for banking and insurance sector was concluded on 22 May. The closing date for other institutions is 12 June. All the companies whose annual year end falls on 31 March are invited to apply for this competition. 

The awards ceremony is scheduled be held on 17 July at Cinnamon Lakeside, Colombo. The keynote speaker at this event will be IIRC Chief Executive Officer Richard Howitt.

Richard Howitt is a former Member of the European Parliament (MEP) for over 20 years and lead-MEP on corporate responsibility. He has represented the EU on many missions worldwide, travelling extensively in Asia, Africa and the Americas. He has represented European interests in numerous international initiatives, including the UN Business and Human Rights Forum and the OECD Forum on Responsible Business Conduct will deliver the key note speech at the inauguration ceremony of CMA National Management Conference and the CMA Excellence in Integrated Reporting Awards 2017 and the conference will also have a special technical session on Integrated Reporting.

The purpose of the Excellence in <IR> Awards is to promote Sri Lankan companies, banks, finance and insurance companies especially those listed, unlisted and 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 accounting profession and NGOs. The coalition is promoting communication about value creation as the next step in the evolution of corporate reporting.

This time CMA has opened this competition to a wide range of business sectors viz; listed companies, unlisted companies, state owned enterprises and small and medium enterprises (SME). 

The awards will be presented at the Inauguration Ceremony of the CMA National Management Accounting Conference on 17 July 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
• Special Award for ‘conciseness of <IR>‘
• Certificates of Merit

Sector Awards:

• Banking
• Finance & Insurance
• Industry & Commerce
• State Owned Enterprises
• Small & Medium  Enterprises
• The Integrated Reports applicable for the competition are as follows;
• Banking and Insurance institutions – 31 December 2016
• Other institutions – 31 March 2017

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 further details please contact CMA <IR> Secretariat Jinandi Chandraratne on 0112-506391/0112-507087 (Ext: 154) or at [email protected].