Oxford College of Business wins top honours at CMA Integrated Reporting Awards 2020
Wins three awards including Best Disclosure on Materiality
Oxford College of Business (OCB) stamped its supremacy in financial disclosure at the CMA Excellence in Integrated Reporting Awards 2020, winning the Best Integrated Report – Small and Medium Enterprises Sector. Oxford College of Business also received a special award for Best Disclosure on Materiality and a Certificate of Merit at the 6th edition of this prestigious awards ceremony of the Institute of Certified Management Accountants of Sri Lanka.
Expressing his views of the company’s recognition, Director/CEO, Malindu Ranasinghe said, “It is an honour to be recognized for our leadership in financial reporting and give all glory and honour to Christ alone for this great recognition. Oxford College of Business is conscious of the diverse needs of our stakeholders and has put in place robust mechanisms to ensure that corporate governance principles are embedded in our culture. This award inspires us to continue to re imagine higher education and do even better for our students, employees and stakeholders.”
“Transparency, accountability and corporate responsibility are important if Sri Lanka is to achieve a sustainable financial system that is on par with global standards. We believe that our annual reports and disclosures are vital towards providing all stakeholders with a clear and accurate snapshot of our performance. We are honoured to once again have been presented with such prestigious accolades at this year’s awards.”
The CMA Excellence in integrated Reporting Awards 2020 is considered a platform which encourages excellence in the presentations of information covering transparency, social accountability and good governance among diverse Sri Lankan business entities in the field of financial reporting, this time around granted noticeable contribution to the IR reporting in Sri Lank.
In the face of the challenges posed by the COVID-19 outbreak since mid-March 2020, Oxford College of Business endured to duly complete its annual report for the financial year 2019/20 adhering to the Integrated Reporting Framework to fulfil the information required from all key stakeholders. The 2020 Annual Report of Oxford College of Business, presented under the theme ‘Impactful’ presents a balanced and concise analysis and an overview of the Company and its external environment, strategy, resource allocation, business model, performance, corporate governance and prospects of the Company.
The report has closely followed guiding principles and fundamental concepts contained in the International Reporting Framework including International Integrated Reporting framework (IIR) issued by Integrated reporting council to best serve the information needs of stakeholders. Giving materiality the due consideration, the company was able to produce an integrated annual report which is concise, easy to read and provide a complete picture of the organisations value creation ability.
Oxford College of Business is the only higher educational provider in Sri Lankan to hold the ISO 21001:2018 Educational Management Certification, being ranked among the Top 20 Best Companies to work in Asia, Oxford College of Business has produced over 20,000 graduates over the past 18 years.
“Transparency, accountability and corporate responsibility are important if Sri Lanka is to achieve a sustainable financial system that is on par with global standards. We believe that our annual reports and disclosures are vital towards providing all stakeholders with a clear and accurate snapshot of our performance. We are honoured to once again have been presented with such prestigious accolades at this year’s awards.”