Message from Chief Guest

I am pleased that I have this opportunity to speak a few words at this important occasion when the CMA is celebrating the ‘ CMA Excellence in Integrated Reporting Awards’ for the 7th time in succession.

I believe it is a milestone which we all need to be happy about as well as the fact that it has been now embraced by so many companies, banks and insurance sector to show how they are reporting. It means that the culture of integrated reporting is now being captured in our society.

I believe it is necessary for all companies to be accountable as well as to show responsibility and in that sense showing how they have performed in several spheres is indeed something that we all must be happy about. In so doing the contribution made by the CMA Sri Lanka is indeed something that we must all recognise.

I would like to thank Prof. Watawala for being the energy behind this initiative to organise this event successfully. Over the last several years, through the CA Sri Lanka, AAT Sri Lanka to the CMA Sri Lanka and the so many other organisations that Prof. Watawala has been heading, he has been able to inculcate that spirit which I believe is highly infectious and important to everyone. So, whilst thanking Prof. Watawala, I also wish to congratulate Mr. Hennayaka Bandara on his assumption as President SAFA a post which I too held and wish him a successful year in office.

I like to share with you a few thoughts about reporting in general which I believe is important when we are aspiring for accountability. My view is that, not only should we be looking at the past and reporting on the past, we need to look at the future as well. That’s sometimes a part of our management skills that we didn’t use effectively enough. I have made it a point at the Monetary Board as well which I have had the privilege of sharing for a long time to focus 75% of the time on the future. So that, we take into consideration the events that may occur, that are likely to occur and take steps to deal with that situations as we go on. A responsible statement being made by the Board of Directors about the company’s future course in my view is something that we need to introduce for the future. So that, that would hold them accountable.

With that thought, let me thank Prof. Watawala and the Council of the CMA Sri Lanka, and also congratulate to all those who have done well in their integrated reporting and consequently winning various accolades today and I do hope that as time goes on you will improve further and you would stand out as being a group of pioneers of reporting standards that many people would attempt to emulate and take forward for future.

Once again let me thank Prof. Watawala and his team for the excellent arrangements that has been made as well as the work that has been done by the CMA Sri Lanka and I wish the Institute as well as all those who have been instrumental in putting this together all success!