APFASL organises inaugural public sector Best Annual Report and Accounts Awards

In an effort to enhance transparency and accountability in the public sector and to encourage excellence in the presentation of information in the annual reports and accounts, the Association of Public Finance Accountants of Sri Lanka (APFASL) has organised the inaugural Best Annual Report and Accounts Awards competition for the public sector.

The competition is organised in collaboration with the Finance Ministry and the Auditor General’s Department.

The main objective of the competition is help improve the quality of annual reports and accounts issued by the public sector, thereby improve transparency and accountability of ministries, departments, statutory boards, local authorities and foreign-funded projects.

Organisations belonging to the public sector, which has produced an annual report for the year ending on December 31, 2014, can vie for the Best Annual Report and Accounts Awards organised by APFASL. Applications for the competition are accepted till September 30, 2015. The awards ceremony is scheduled to be held by the end of this year.

The main objective of the competition is to ensure the timely reporting of annual performance in a comprehensive manner to enhance transparency, accountability and good governance in the public sector.

A total of three awards will be given for each category, namely the Best Annual Report, followed by the first and second runnersup, while there will also be an Overall Winner at the awards ceremony, for complying with all the requirements as stated per the guidelines of the competition.

Institutions will be classified under the categories of Ministries, Departments, Provincial Councils, Universities, Statutory Boards, Municipal Councils, Pradeshiya Sabhas and Foreign-Funded Projects.