23 February 2017 12:00 am
The Institute of Certified Management Accountants of Sri Lanka (CMA)-organised ‘Integrated Reporting - Practical Aspects’ workshop will be held on Tuesday, February 28, 2017, at Taj Samudra, Colombo, from 1:30 p.m. to 5:00 p.m.
This workshop will enable companies preparing integrated reports (IR) to achieve excellence, improve their reports and enter the CMA Excellence in IR Awards, which will be held in July this year at the inauguration of the Annual Conference. The Ten Best IR will receive awards together with the overall winner and runner-up. A special award will also be made for the most concise report.
IR is enhancing the way organisations think, plan and report the value creation story of their business and will be based on the IIRC Reporting Framework.
Organisations are using IR to communicate a clear, concise, integrated story that explains how all of their resources are creating value. IR is helping businesses to think holistically about their strategy and plans, make informed decisions and manage key risks to build investor and stakeholder confidence and improve future performance. It is shaped by a diverse coalition including business leaders and investors to drive a global evolution in corporate reporting.
IR applies principles and concepts that are focused on bringing greater cohesion and efficiency to the reporting process and adopting ‘Integrated Thinking’ as a way of breaking down internal silos and reducing duplication. It improves the quality of information available to providers of financial capital to enable a more efficient and productive allocation of capital. Its focus on value creation and the ‘capitals’ used by the business to create value over time, contributes towards a more financially stable
global economy.
The purpose of the IR framework is to establish guiding principles and content elements that govern the overall content of an integrated report and to explain the fundamental concepts that underpin them.
(Source:http://integratedreporting.org/resource/international-ir-framework/)
In order to assist companies in the preparation of IR, CMA is organising this workshop to give the participants an overview of the process and practical aspects of preparing an IR followed by a panel discussion by experts in IR to enable participants to solve their practical problems in the preparation of IR.
The welcome address and introduction to the workshop and Excellence in IR Awards will be delivered by CMA President Prof. Lakshman R. Watawala. The keynote address on ‘Understanding IR’ will be delivered by Diesel & Motor Engineering PLC (DIMO) Chief Financial Officer Suresh Gooneratne, who has been closely involved with the Integrated Reporting Council and was the only Sri Lankan company engaged in the IIRC Pilot Study and has won many awards at the Integrated Reporting Awards both locally and internationally.
The workshop will be followed by a panel discussion, which will be moderated by Management Systems (Pvt.) Limited and Integrated Reporting Council of Sri Lanka Board of Management Chairman Asite Talwatte with the keynote speaker Suresh Gooneratne together. The following experts on integrated reporting will include the panellists: University of Sri Jayewardenepura Accounting Department Prof. Samanthi Senaratne, SJMS Associates former Partner D.S.W. Andradi, Colombo Stock Exchange Head of Finance Kusal Nissanka, Management Frontiers Chairman, Principal Consultant and Founder Director Prashantha Abeykoon, UN Global Compact Network (GTE) Ltd Director Sutheash Balasubramaniam and SheConsults (Pvt.) Ltd Director Aruni Rajakariar.