CMA Excellence in <IR> Awards 2019

CMA Excellence in Integrated Reporting Awards competition is organised annually by the Institute of Certified Management Accountants of Sri Lanka (CMA) for the 5th consecutive year. CMA is the national professional management accounting institute in Sri Lanka incorporated by Act of Parliament No. 23 of 2009.The Institution was initially established as the "Society of Certified Management Accountants of Sri Lanka" in 1999 with the technical assistance of CMA Canada now CPA Canada and financial assistance form Canadian International Development Agency (CIDA) and,launched on 3rd June 2000. This year CMA is celebrating its 20th anniversary.

Currently CMA is a member of the International Federation of Accountants (IFAC), the global organisation for professional accounting bodies, South Asian Federation of Accountants (SAFA) and the Confederation of Asian and Pacific Accountants (CAPA).

Over the past four years we could witness an overwhelming number of companies both quoted and unquoted, private and government applying for the CMA Excellence in Integrated Reporting Awards competition showing that this awards competition is widely accepted by the business community and Sri Lanka is in the forefront of Integrated Reporting in the South Asian Region. This year we received 50 applications from organizations representing various sectors and both the private and public sector.

The Colombo Stock Exchange was the Supporting Partner for the CMA Excellence in Integrated Reporting Awards 2019 showing the importance for public quoted companies to prepare integrated reports. This will also assist companies in Achieving Sustainability through Integrated Reporting.

The messages received from the President - International Federation of Accountants (IFAC) Dr. In-Ki Joo, Chair EmeritusInternational Integrated Reporting Council (IIRC) Prof. Mervyn E. King and the International Integrated reporting Council UK, have clearly indicated the global recognition and the importance of the CMA Excellence in Integrated Reporting Awards.

The purpose of the Excellence in Integrated Reporting Awards is to promote Sri Lankan companies both listed and unlisted and state- owned institutions / companies to undertake integrated reporting which will be beneficial to investors and stakeholders. The integrated reports are evaluated using guidelines applicable in the International Framework issued in December 2013. The evaluation will take into account not only the accounting and financial information but also non-financial information provided in .

The integrated reports applicable for CMA Excellence in Awards 2019 were as follows;

21st June 2019 – Institutions whose financial year ends on 31st December 2018.

12th July 2019 - Institutions whose financial year ends on 31st March 2019.

The Key Note Speaker at the CMA Excellence in Integrated Reporting Awards 2019 was Prof Mervyn King a World Authority on Integrated Reporting and Corporate Governance,Chair Emeritus of the International Integrated Reporting Council UK, Global Reporting Initiative (GRI) Amsterdam, a member of the Private Sector Advisory Group to the World Bank on Corporate Governance, former Judge of the Supreme Court of South Africa, Chair of the African Integrated Reporting Council and Chair of the Integrated reporting Council in South Africa. Please turn to Page 15

Prof Lakshman R Watawala President CMA Sri Lanka