CMA to host ‘Excellence in Integrated Reporting Awards 2018’
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 July 5, 2018, at Cinnamon Lakeside, Colombo.
The keynote speaker at this event will be International Federation of Accountants (IFAC) President Rachel Grimes.
The purpose of the Excellence in Integrated Reporting Awards is to promote Sri Lankan companies, banks, finance, insurance, hotels, plantations, conglomerates, industry and commerce, non-profit making institutions in education, chambers of commerce, companies listed on the stock exchange, unlisted companies, state owned enterprises, small and medium sector to undertake Integrated Reporting which will be of immense benefit to investors and stakeholders.
This year CMA Excellence in Integrated Reporting Awards has the Colombo Stock Exchange (CSE) as its supporting partner. With this linkage we are hopeful will have a positive impact in promoting integrated reporting among public quoted companies and its implementation.
The International President of IFAC Rachel Grimes in her message for the CMA Excellence in Integrated Reporting Awards 2018 has stated: “In today’s technology driven environment, the evolving demands of organisations and citizens require professional accountants to contribute to the management and reporting of value creation in a way that drives both growth and corporate responsibility.”
“The future accountant needs to provide information and analysis that supports decisions about all aspects of an organisation. A professional accountant in business or the public sector needs to be able to answer the question, ‘What is driving value creation and preservation in the present and future, and how is my organisation responding to opportunities and risks?’.”
This year CMA has opened the 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: 10 Excellence in Integrated Reporting Awards, Overall Winner - Gold trophy, Overall first Runner-up - Silver trophy, Overall second Runner-up - Bronze trophy, Merit award for Integrated Thinking, Certificates of Merit, Sector awards: Banking, Finance, Insurance, Industry and Commerce, Conglomerates, State Owned Enterprises, Hotels, Plantations, Ngos/npos/educational Institutes/ Chambers of Commerce, Small and Medium Enterprises, Special Awards: Conciseness, Capitals, Materiality, Value Creation, Strategic Focus, Most improved Integrated Report.
The closing dates are as follows: May 18, 2018 -Institutions whose financial year ends on December 31, 2017; June 11, 2018 - Institutions whose financial year ends on March 31, 2018.
The Mark Plan for judging integrated reports will be based on the Guiding Principles, Content Elements and Fundamental Concepts which appear in the International Integrated Reporting Framework issued by the International Integrated Reporting Council (IIRC) and special emphasis will be given to the following criteria: Strategic Focus and future orientation, Connectivity of information, Value Creation, Reliability and completeness.