CMA Excellence in Integrated Reporting Awards presentation on 27 July

The Institute of Certified Management Accountants of Sri Lanka (CMA) has organised the CMA Excellence in Integrated Reporting Awards 2015 which will be presented at the inauguration of the Global Management Accounting Summit on 27 July in the distinguished presence of the World President of the Global Accounting Bodies (IFAC) Olivia Kirtley. The companies producing the 10 Best Integrated Reports will receive awards and trophies will be presented to the Best Report receiving the Gold Award, 1st Runner up Silver Award and 2nd Runner up Bronze Award. Certificates of Merit will be presented to those companies who have fulfilled the criteria of integrated reporting.  

While Integrated Reporting is new to Sri Lanka the Global Summit on Integrated reporting the first of its kind in Sri Lanka will provide a good learning and skill development platform for accounting and finance professionals and those engaged in the preparation of the Annual Reports an opportunity to listen to international experts and local practitioners with practical exposure. 

The purpose of the Excellence in (IR) Awards is to promote Sri Lankan companies especially those listed and state institutions 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. The Technical Director Framework Development Michael Nugent will be present from the IIRC at the Global Summit and given an address on Integrated Reporting and take part in the panel discussion. 

The President of IFAC Olivia Kirtley is on the Council of IIRC headed by Prof. Mervyn King from South Africa and will cover both Integrated Thinking and Integrated Reporting. In South Africa it is mandatory for all listed companies to comply with the Integrated Reporting Framework in the preparation of Annual Reports. At the Summit we will have the former Technical Director of CA South Africa and currently an ambassador for IIRC Mr Terry Graham who will speak on Integrated Thinking and was Chairman of the SAICA committee that published a booklet on Integrated Thinking which will be made available to participants with the compliments of SAICA the South African Chartered Accountants. Another publication Getting Started on <IR> a publication with the compliments of IRC South Africa will also be made available to participants.

The Annual Report Awards evaluation will consist of a Technical Evaluation Panel and the final selection will be done by a panel of Judges both foreign and local and the selection of the panel of judges will be final and binding on all participants.

The Global Summit on Integrated Reporting will feature over 20 foreign speakers and panellists and aimed to promote the adoption of Integrated Reporting in Sri Lanka and to enhance the quality of corporate reporting in the country. The main areas of an Integrated Report which consists of the Six Capitals, Guiding Principles and Content Elements will be covered providing the knowledge base to Sri Lankans.      

The Global Summit will be suitable for Directors, CEOs, CFOs, those engaged in the preparation of annual reports, senior managers and executives, sustainability managers, management accountants, financial accountants, corporate planners, financial analysts, auditors, internal auditors, government and state corporation finance managers and accountants, university professors and lecturers and economists. For further details and registration please contact Shanthi on Tel: 0714 705536, Email: [email protected].