DIMO Overall Winner and JKH First Runner-Up in CMA Excellence at Integrated Reporting Awards – 2016

The Overall Winner Diesel & Motor Engineering PLC.The Gold award was presented to DIMO CFO Suresh Goonarathna by Minister of Finance Ravi Karunanayake and Minister of Industry and Commerce Rishad Bathiudeen in the presence of CMA President Prof. Lakshman R. Watawala, University of Singapore Head of Dept. of Accounting Prof.Ho Yew Kee and Lanka IOC MD Shyam Bohra

1st Runner-Up John Keells Holdings PLC. The Silver award was presented to JKH Group Financial Controller Mano Rajakariarby Chief Guest Minister of Industry and Commerce Rishad Bathiudeenin the presence of Minister of Finance Ravi Karunanayake, CMA President Prof. Lakshman R. Watawala, University of Singapore Head of Dept. of Accounting Prof.Ho Yew Kee and Lanka IOC MD Shyam Bohra

2nd Runner up (Joint Winners) LB Finance PLC and Mercantile Investments & Finance PLC. The Bronze award was presented to LB Finance AGM –Treasury Palitha Abeysekara (left) and Mercantile Investments & Finance MD Gerard Ondaatjie (right) by Chief Guest Minister of Industry and Commerce Rishad Bathiudeen in the presence of Minister of Finance Ravi Karunanayake, CMA President Prof. Lakshman R. Watawala, University of  Singapore Head of Dept. of Accounting Prof.Ho Yew Kee and Lanka IOC MD Shyam Bohra

The Institute of Certified Management Accountants of Sri Lanka (CMA) held the ‘CMA Excellence in Integrated Reporting Awards– 2016’ at the inauguration of the CMA National Management Accounting Conferenceon 11July at Cinnamon Lakeside.

Awards were presented by Chief Guest Minister of Industry and Commerce RishadBathiudeen and Minister of Finance Ravi Karunanayake. Also present were Prof.Ho Yew Kee, Head – Departmentof Accounting, University of Singapore, Prof.Mark Graham Associate Professor –Schoolof Accounting, University of Cape Town, South Africa and CMA President Prof. Lakshman R. Watawala.

 The main objective of the Excellence in <IR> Awards was to promote Sri Lankan companies both listed and unlisted and state institutions 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 took into account not only the accounting and financial information but also non-financial information provided in <IR>. This year many listed companies including banks, insurance, industrial, finance and conglomerates took part in the competition.

As per the judges report presented by Associate Prof.Mark Graham, this year the integrated reports of companies were of a high standard compared to the previous year and many positive factors of integrated reporting were present and one of the negatives was the lengthy reports submitted by companies.

The awards included the Overall Winner and 1st and 2nd Runners-Up, Most Concise Report, 10 Best Integrated Reports, Certificates of Merit and the Certificate of Merit for the Best State Owned Enterprise.  

The judges comprised three foreign and two local experts. There was also a Technical Evaluation Panel that did the initial screening of the annual reports. 

Overall Winner award was presented to Diesel & Motor Engineering PLC and followed by 1st Runner-Up John Keells Holdings PLC and 2nd Runner-Up (Joint Winners)LB Finance PLC and Mercantile Investments & Finance PLC.

Award for the Most Concise Report was also awarded to Diesel and Motor Engineering PLC.

Ten Best Integrated Reports awards were presented to Asian Alliance Insurance PLC, Citizens Development Business Finance PLC, Diesel & Motor Engineering PLC, Hatton National Bank PLC, HNB Assurance PLC, John Keells Holdings PLC, John Keells Hotels PLC, LB Finance PLC, Mercantile Investments & Finance PLC and Peoples’ Leasing& Finance PLC.

Certificates of Merit were presented to Ceylon Tobacco Company PLC, Hayleys Fabric PLC, National Development Bank PLC, People’s Insurance PLC, Sampath Bank PLC and Talawakelle Tea Estates PLC.

Certificateof Merit for State-Owned Enterprises was presented to Bank of Ceylon.

Pix by Upul Abayasekasra