CMA Sri Lanka Celebrates 10th Anniversary of Excellence in Integrated Reporting Awards 2024

Friday, 20 December 2024 13:57 - - {{hitsCtrl.values.hits}}

Overall Winner - Diesel and Motor Engineering PLC

1st Runnerup - Softlogic Life Insurance PLC

2nd Runnerup - John Keells Holdings PLC

The 10th Anniversary of the CMA Excellence in Integrated Reporting Awards 2024 was celebrated with great success on December 3rd, 2024, at the Taj Samudra Hotel. Organized by the CMA (National Professional Management Accounting body), in strategic partnership with the Colombo Stock Exchange (CSE), the event recognized Sri Lankan companies across listed, unlisted, state-owned, and SME sectors that have excelled in integrated reporting and showcased the value they create for stakeholders.

The event brought together industry leaders, policymakers, and professionals, with an esteemed lineup of guests, including Prof. Hareendra Dissabandara, Chairman of the Securities and Exchange Commission (SEC), Mr. Dilshan Wirasekera, Chairman of the Colombo Stock Exchange, and Prof. Ho Yew Kee, Chairman of the Panel of Judges.

The awards aim to foster the adoption of integrated reporting by Sri Lankan companies, underscoring its importance in providing a holistic view of an organization’s value creation process. As highlighted by the event’s organizers, the primary purpose of integrated reporting is to communicate to investors and stakeholders how an organization creates, preserves, or erodes value over the short, medium, and long term.

The event also reaffirmed the role of integrated reporting in promoting transparency and accountability within the corporate sector, benefiting all stakeholders, including employees, customers, suppliers, investors, regulators, and communities.

In a remarkable showcase of corporate excellence, the following companies were honored for their outstanding integrated reporting practices:

Gold Award – Diesel & Motor Engineering PLC – Recognized as the overall winner for their exceptional integration of financial and non-financial information, and a clear demonstration of value creation for stakeholders.
Silver Award – Softlogic Life Insurance PLC – Awarded as the first runner-up for their comprehensive and innovative reporting that highlights strategic thinking and stakeholder engagement.
Bronze Award – John Keells Holdings PLC – Acknowledged as the second runner-up for their consistent efforts in demonstrating diversity in integrated reporting, setting a benchmark for others to follow.

The awards were presented by the distinguished panel of judges, who commended the participating organizations for their dedication to creating long-term value and promoting transparency through integrated reporting.

Speaking at the ceremony, Prof. Mervyn King emphasized the importance of integrated reporting in enhancing corporate governance and fostering a more sustainable business environment. He congratulated all the winners and participants for their commitment to excellence and encouraged more organizations to embrace integrated reporting as a key tool for driving sustainable growth and creating value for all stakeholders.

The CMA Excellence in Integrated Reporting Awards remains a vital platform for promoting corporate best practices in Sri Lanka and encourages companies to consider the long-term implications of their actions on society and the environment, in addition to traditional financial performance.

For more information, please visit www.cma-srilanka.org