Message from President’s Counsel, Chairman of the Securities & Exchange Commission of Sri Lanka
Iwish to thank Prof. Watawala and CMA Sri Lanka for inviting me for the ‘ CMA Exc e l l e n c e in Integrated Reporting Awards 2021’ and it is my pleasure to be here this evening and celebrate the achievements of corporate for their excellence in integrated reporting.
First and foremost let me commend CMA Sri Lanka for having taken the initiative several years ago for continuing to recognise organisations for their excellence in integrated reporting in keeping with the vision of the International Integrated Re p o r t i n g C o u n c i l ( IIRC), the global coali
tion of regulators, investors, companies, standard setters, the accounting profession and nongovernmental organisations.
Integrated reporting will ensure the demonstration of value created by organisations taking into consideration not only the accounting and financial information but non- financial information which would benefit investors as well as other stakeholders. Such a report will explain to providers of financial capital how an entity creates value overtime. It will spell out the linkages between an organisation’s strategy, governance and financial performance and the social, environmental and economic conduct within which the entity operates.
Although there are no legislative or other compulsion for organisations to prepare integrated reports, over the past six years an overwhelming number of companies listed and unlisted as well as private and government institutions have applied for the CMA Excellence in Integrated Reporting Awards. This is testimony not only to the acceptance of the method of reporting by the business community but the importance they attach to this competition.
Let me conclude by congratulating the winners and CMA Sri Lanka since it is to the benefit of markets that these endeavors are recognised and rewarded. We look forward to closer collaborations between CMA Sri Lanka and the SEC to uphold the quality of the markets and wish you all the very best!