Closing date for CMA Excellence in Integrated Reporting Awards – 2015 extended to 6 July

Thursday, 2 July 2015 01:17 - - {{hitsCtrl.values.hits}}

The CMA Excellence in Integrated Reporting Awards will be held to coincide with the Global Management Accounting Summit on the theme ‘Business Resilience through Integrated Reporting’ from 27-29 July at Hotel Cinnamon Lakeside, Colombo. The Excellence in Integrated Reporting Awards will be presented on the 27th evening by the President of the International Federation of Accountants Olivia Kirtley representing 2.8 million accountants throughout the world.

The main objective of the Excellence in IR Awards is to promote Sri Lankan companies both listed and unlisted, state institutions and non-profit organisations to undertake integrated reporting and to enhance the quality of corporate reporting in the country which will be beneficial to investors and stakeholders. The integrated reports are evaluated by using guidelines applicable in the International IR framework issued in December 2013. The evaluation will take into account not only the accounting and financial information but also non-financial information provided in IR.

The annual reports currently produced by organisations will be reviewed for the purposes of the Award by an Evaluation Panel and thereafter the final companies selected will be reviewed by a panel of Judges whose decision will be final and binding on all companies. The International IR Framework which was published in 2013 will be used as the basis for the mark plan.

This is the first year that the Award is being presented and therefore the panel of judges will view the reports from a perspective of achieving the integrated principles and not on a compliance basis. Furthermore, integrated reporting will differ from organisation to organisation depending upon the industry and the material issues faced by the entity. History shows that implementation of integrated reporting is a journey and that it takes organisations some years to be able to produce high quality reports.

The reporting years for the different sectors will be as follows:

Banking and Insurance Sectors 31 December 2014
Other Sectors 31 March 2015

Awards will be presented to companies after evaluating their Integrated Reports for the 10 best integrated reports in addition, trophies will be presented to the company producing the Excellent Report, Runner Up and Third Place.

Certificates of Merit will be awarded to those companies fulfilling the criteria of Integrated Reporting.

Companies/State institutions/non-profit organisations are invited to apply for the CMA Excellence in Integrated Reporting Awards 2015 and to send in their Annual Report on or before 6 July to CMA Head Office, 29/24, Visakha Road, Colombo 4.

For application forms and any further information please contact Shanthi on 2506391/2507087 or e-mail [email protected].