CMA calls for ap­pli­ca­tions for CMA Ex­cel­lence in In­te­grated Re­port­ing Awards 2019

Daily Mirror (Sri Lanka) - - HR/STRATEGY/ACCOUNTING -

The In­sti­tute of Cer­ti­fied Man­age­ment Ac­coun­tants of Sri Lanka (CMA) is invit­ing all Sri Lankan busi­ness in­sti­tu­tions in­clud­ing pri­vate and pub­lic quoted com­pa­nies, state owned en­ter­prises, small and medium en­ter­prises to ap­ply for CMA Ex­cel­lence in In­te­grated Re­port­ing Awards 2019 com­pe­ti­tion, or­gan­ised for the fifth con­sec­u­tive year.

The awards cer­e­mony will be held on Septem­ber 9, 2019, at the Taj Sa­mu­dra Ho­tel, in line with the “CMA Na­tional Man­age­ment Ac­count­ing Con­fer­ence 2019 and Com­mon­wealth Ac­coun­tants Con­fer­ence”

The clos­ing dates for sub­mis­sion of ap­pli­ca­tions for in­sti­tu­tions whose fi­nan­cial year ends on De­cem­ber 31, 2018, which in­cludes banks and other in­sti­tu­tions, is on June 21, 2019, and for in­sti­tu­tions whose fi­nan­cial year ends on March 31, 2019, the clos­ing date is July 12, 2019.

This year much recog­ni­tion has been given to in­te­grated re­port­ing with the Colombo Stock Ex­change (CSE) being the sup­port­ing part­ner for CMA Ex­cel­lence in Awards and Deakin Busi­ness School spon­sor­ing the ‘Merit Award for In­te­grated Think­ing’.

In­ter­na­tional recog­ni­tion has been re­ceived for CMA’S flagship event, with In­ter­na­tional Fed­er­a­tion of Ac­coun­tants (IFAC) Pres­i­dent Dr. In-ki Joo, Prof. Mervyn E. King Chair Emer­i­tus of the In­ter­na­tional In­te­grated Re­port­ing Coun­cil (IIRC) London, the 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 Com­mit­tee of South Africa, Chair and Emer­i­tus Pres­i­dent of the In­ter­na­tional In­te­grated Re­port­ing Coun­cil (IIRC) and Richard Howitt, CEO, In­ter­na­tional In­te­grated Re­port­ing Coun­cil (IIRC) by pro­vid­ing mes­sages and sup­port­ing the CMA Ex­cel­lence in Awards 2019.

Graham Terry IIRC Am­bas­sador from South Africa and for­mer Se­nior Ex­ec­u­tive for Strat­egy and Thought Lead­er­ship SAICA has been nom­i­nated to rep­re­sent IIRC in ad­di­tion to his role as a Judge and Tech­ni­cal Ad­vi­sor to CMA Ex­cel­lence in In­te­grated Re­port­ing Awards com­pe­ti­tion since its in­cep­tion.

The panel of judges will be chaired by Prof. Ho Yew Kee Pro­fes­sor of Ac­count­ing, As­so­ciate Provost (Skills Fu­ture and Staff De­vel­op­ment) Sin­ga­pore In­sti­tute of Technology (SIT) and for­mer Pro­fes­sor in Ac­count­ing Univer­sity of Sin­ga­pore and will in­clude in­ter­na­tional ex­perts on In­te­grated Re­port­ing from UK, Sin­ga­pore, South Africa, In­dia, Aus­tralia, and Sri Lanka giv­ing due recog­ni­tion to Sri Lanka as a leading coun­try that has im­ple­mented In­te­grated Re­port­ing on a vol­un­tary ba­sis whereas it is manda­tory in coun­tries such as South Africa and more re­cently in In­dia.

This year CMA has ex­panded this com­pe­ti­tion to a wide range of busi­ness sec­tors and the cat­e­gories of awards are as fol­lows: 10 Best Awards, Over­all Win­ner – Gold Tro­phy, Over­all 1st Run­ner up – Sil­ver Tro­phy, Over­all 2nd Run­ner up – Bronze Tro­phy, Merit Award for In­te­grated Think­ing (Spon­sored by the Deakin Busi­ness School, Aus­tralia), Cer­tifi­cates of Merit.

Sec­tor Awards: Bank­ing, Fi­nance and Leas­ing, In­sur­ance, Manufactur­ing In­dus­try, Trade and Com­merce, Di­ver­si­fied Hold­ings, State Owned En­ter­prises/com­pa­nies, Ho­tels and Trav­els, Plan­ta­tions, Health Care, Power and En­ergy, Small and Medium En­ter­prises, Non­govern­men­tal Or­gan­i­sa­tions (NGOS)/NOT for Profit Or­gan­i­sa­tions (Npos)/cham­bers of Com­merce/ed­u­ca­tional In­sti­tutes.

Spe­cial Awards: Con­cise­ness, Cap­i­tals, Ma­te­ri­al­ity, Value Cre­ation, Strate­gic Fo­cus, Most Im­proved In­te­grated Re­port, SDG Re­port­ing, Di­ver­sity Re­port­ing.

The eval­u­a­tion will be car­ried out as per the frame­work is­sued by the In­ter­na­tional In­te­grated Re­port­ing Coun­cil (IIRC) is­sued in De­cem­ber 2013.

A com­bi­na­tion of in­te­grated think­ing and in­te­grated re­port­ing will re­sult in the prepa­ra­tion of a con­cise in­te­grated re­port and how an or­gan­i­sa­tion’s strat­egy, gov­er­nance, per­for­mance and prospects in the con­text of its ex­ter­nal en­vi­ron­ment lead to the cre­ation of value in the short, medium and long term.

It is de­signed to ben­e­fit all stake­hold­ers - in­clud­ing em­ploy­ees, cus­tomers, sup­pli­ers, busi­ness part­ners, lo­cal com­mu­ni­ties, regulators and pol­icy mak­ers in­ter­ested in an or­gan­i­sa­tion’s abil­ity to create value over time.

A key ob­jec­tive of is to en­hance ac­count­abil­ity and stew­ard­ship with re­spect to the broad base of tan­gi­ble and in­tan­gi­ble cap­i­tals and pro­mote un­der­stand­ing of their in­ter­de­pen­den­cies. will also pro­mote the United Na­tions Sus­tain­able De­vel­op­ment Goals for fight­ing poverty, pro­mot­ing sus­tain­able de­vel­op­ment and im­prov­ing global and lo­cal well-being.

For any fur­ther in­for­ma­tion or clar­i­fi­ca­tions, please contact Ji­nandi Chan­draratne, on ‘0112506391’ (Ext. 154) or at ‘ji­nandi. chan­[email protected]­ri­’.

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