The Grand Finale of the 51st Annual Report Awards organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will be held today at Waters Edge, Battaramulla.
The Annual Report Awards competition, which promotes transparency and accountability among organisations that produce annual reports in the country, this year created an all-time new record in the history of the competition, with a total of 144 organisations including blue-chip companies, conglomerates to small-time community groups vying for the coveted honours.
The competition has been an important platform that has helped set high standards among organisations in Sri Lanka line with global standards and also enhance financial reporting across the corporate sector.
This year’s grand finale will see a high-profile gathering of corporate hierarchy in the country in the likes of chairman, managing directors and chief executives, among others, who will be in attendance as top companies vie for the coveted Annual Report Awards.
The aim of the competition is to encourage effective communication to stakeholders through publication of informative annual reports, promoting effective presentation of financial and non-financial information and compliance with legislative requirements and generally accepted accounting practices.
The winners are selected on their ability to communicate the objectives, highlights, performance, personnel and management clearly to an intended audience. The size, resources, complexity and sophistication of operation of each entrant will be considered in the judging process. These awards provide a holistic view of an organisation’s performance and going beyond the company’s bottom line.