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Friday, 5 July 2013

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CA Sri Lanka to spearhead fresh initiative

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will spearhead a fresh initiative in pioneering thought leadership among Sri Lankan corporates by promoting integrated reporting aimed at leading to better decision making across the business world.

In its capacity as one of the foremost professional organisations which has consistently provided leadership and insight to the corporate world, CA Sri Lanka will lead this fresh initiative with a line of programmes scheduled to be held this month featuring both local and foreign experts including Ms. SupernaKhosla, Relationships Director of the International Integrated Reporting Council (IIRC).

The series of programmes organized by CA Sri Lanka will be the first of its kind to be held in the country and will consist of a roundtable discussion, a seminar and a CFO forum all focusing on integrated reporting.

The integrated reporting series of programmes will kick off on July 8th with a roundtable discussion at CA Sri Lanka with the participation of the country's leading corporates including organizations that have already pioneered in adopting integrated reporting for their company's benefit, while organizations which were awarded excellence at the Annual Report Awards competition organized by the Institute will also be invited to participate in the roundtable discussion.

The roundtable discussion will focus in detail on the consultation draft of the international integrated reporting framework, how the new framework has been developed and how this framework will add value to an organization

The roundtable discussion will be followed by a seminar on integrated reporting also on July 8th featuring Khosla from IIRC who will deliver a detailed presentation on the topic including the many benefits corporates can enjoy by adopting this process.

Her presentation will be followed by a panel discussion on 'global outlook and national outlook' featuring Reyaz Mihular, Managing Partner of KPMG, Suresh Gooneratne, Director of Diesel & Motor Engineering PLC, Tishan Subasinghe, Chairman of the Integrated Reporting Task Force, Aruni Rajakarier, Director of SheConsults (Pvt) Ltd and Chulendra De Silva Vice President and Head of Sustainability and Enterprise Risk Management of JKH.

The CFO Forum will be held on July 9th with over 150 Chief Financial Officers expected to attend the forum where Khosla will make a presentation followed by a panel discussion featuring a well versed experts including Sujeewa Rajapakse, President of CA Sri Lanka, Arjuna Herath, Vice President of CA Sri Lanka, Suresh Gooneratne, Director of Diesel & Motor Engineering PLC and Aruni Rajakarier, Director of SheConsults (Pvt) Ltd.

Integrated reporting which is among the most topical subjects in today's global corporate world is a process that results in communication, most visibly a periodic "integrated report", about value creation over time.

An integrated report is a concise communication about how an organization's strategy, governance, performance and prospects lead to the creation of value over the short, medium and long term, including the integrated representation of a company's performance in terms of both financial and other value relevant information. Integrated Reporting provides greater context for performance data, clarifies how value relevant information fits into operations or a business, and may help embed long-termism into company decision making.

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