Thursday Dec 26, 2024
Thursday Dec 26, 2024
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The Institute of Certified Management Accountants of Sri Lanka (CMA) is organising the ‘CMA Excellence in Integrated Reporting Awards 2018’ for the fourth consecutive year and the awards ceremony will be held on 5 July at Cinnamon Lakeside, Colombo.
The closing dates for submission of applications are as follows:
18 May 2018 – Institutions whose financial year ends on 31 December 2017 which includes banks and other institutions
11 June 2018 – Institutions whose financial year ends on 31 March 2018
This year much recognition has been given to Integrated Reporting with the Colombo Stock Exchange (CSE) being the Supporting Partner for CMA excellence in <IR> Awards.
Further, International Recognition has been received with the President of International Federation of Accountants (IFAC) Rachael Grimes accepting the invitation to grace the occasion and participate at the Awards Ceremony. Last year we had the CEO of International Integrated Reporting Council (IIRC) Richard Howitt present at the <IR> Awards.
The Judges for the <IR> Awards include international experts on <IR> from UK, USA, Canada, Singapore, South Africa, India and Sri Lanka giving due recognition to Sri Lanka as a leading country that has implemented Integrated Reporting on a voluntary basis whereas it is mandatory in countries such as South Africa and more recently in India.
This year CMA has opened this competition to a wide range of business sectors viz; listed companies, unlisted companies, banks, finance, insurance, hotels, plantations, conglomerates, state owned enterprises, NGOs and NPOs and small and medium enterprises (SME) and the categories of awards are as follows:
Overall Winner – Gold Trophy
Overall 1st Runner-up – Silver Trophy
Overall 2nd Runner-up – Bronze Trophy
10 Excellence in <IR> Awards
Merit Award for Integrated Thinking
Certificates of Merit
Sector Awards:
Conglomerates
Hotels
Special Awards:
Most improved Integrated Report
The evaluation will be carried out as per the <IR> framework issued by the International Integrated Reporting Council (IIRC) issued in December 2013 by the world body.
A combination of Integrated Thinking and Integrated Reporting will result in the preparation of a concise integrated report and how an organisation’s strategy, governance, performance and prospects in the context of its external environment lead to the creation of value in the short, medium and long term. It is designed to benefit all stakeholders – including employees, customers, suppliers, business partners, local communities, regulators and policy makers interested in an organisation’s ability to create value over time.
A key objective of <IR> is to enhance accountability and stewardship with respect to the broad base of tangible and intangible capitals and promote understanding of their interdependencies. <IR> will also promote the United Nations Sustainable Development Goals for fighting poverty, promoting sustainable development and improving global and local well-being.
For any further information or clarification please contact Jinandi Chandraratne on 011-2506391 (Ext. 154) – 011-3158050 or at [email protected].
