CMA Excellence in Integrated Reporting Awards expands to include overall and sector awards for priva

The Institute of Certified Management Accountants of Sri Lanka (CMA) is organising the CMA Excellence in Integrated Reporting Awards for the third consecutive year and applications for banking and insurance sector have to be submitted by 15 May and for other institutions by 12 June. The awards ceremony is scheduled be held on 17 July at the Cinnamon Lakeside. The Key Note Speaker at this event will be International Integrated Reporting Council (IIRC) Chief Executive Officer Richard Howitt.

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. 

IIRC, the world body, has issued the <IR> framework in December 2013. The 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 (SMEs). 

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:

n10 Excellence in <IR> Awards

nOverall Winner – Gold Trophy

nOverall 1st Runner-up – Silver Trophy

nOverall 2nd Runner-up – Bronze Trophy

nSpecial Award for ‘conciseness of <IR>’

nCertificates of Merit

nSector Awards:

nBanking

nFinance and Insurance

nIndustry and Commerce

nState-Owned Enterprises

nSmall and Medium Enterprises

The Integrated Reports applicable for the competition are as follows;

nBanking and Insurance institutions – 31 March 2017

nOther institutions – 31 December 2016

Organisations are invited to take part in this competition and send their Integrated Report on or before the following dates to the CMA Head Office:

n15 May – Banking and insurance institutions

n12 June – Other institutions

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:

nStrategic focus and future orientation 

nConnectivity of information 

nValue creation 

nReliability and completeness 

IIRC CEO Richard Howitt is a former Member of the European Parliament (MEP) for over 20 years and lead-MEP on corporate responsibility. Howitt 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. 

He will deliver the keynote 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.

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