LB Finance wins accolades at CA Sri Lanka 53rd Annual Report Awards
Reinforcing the company’s prowess in financial disclosure, LB Finance clinched two coveted Gold awards and a Silver award at the 53rd CA Sri Lanka Annual Report Awards Competition held at the BMICH recently.
Recording a compelling achievement, LB Finance won the Gold award in the Finance companies and Leasing companies category for the first time. The company also won the Gold award for ‘Integrated Reporting: Best Disclosure on Capital Management’ for the second consecutive year beating blue chip companies and the overall Silver Award for ‘Integrated Reporting’. Chartered Accountants of Sri Lanka (CA Sri Lanka) organises the Annual Report Awards competition to set the benchmark in promoting transparency, accountability and good governance among organisations in Sri Lanka while honouring those companies for effectively communicating information to stakeholders.
Responding to a request to voice his thoughts on the achievement, LB Finance PLC Managing Director Sumith Adhihetty commented that these three awards are a tribute to their consistent commitment to upholding responsible business practices, good governance, transparency and their dedication towards sustainable growth through serving the community and the stakeholders. Winning the sector Gold award in particular is a great achievement and this recognition honours them and it is a point of encouragement to continue their corporate quest to create value for all their stakeholders and the community through striving for sustainable growth. Further, he said that inline with the vision to continuously improve business processes and increase transparency, that LB Finance is planning to invest heavily in developing technological capability to develop more efficient, technology based systems to enable them to tap into emerging markets in the ever evolving financial services industry.
Over the years the judging standards of CA Sri Lanka awards have reached a level where strict compliance with legislative requirements and accepted accounting best practices as well as consistency in reporting have become essential ingredients in effective financial disclosure.