The Commercial Bank of Ceylon PLC stamped its supremacy in financial disclosure at the CA Sri Lanka Annual Report Awards this week, winning the coveted overall award for the best annual report by a Sri Lankan company in 2016 and three other awards including the Edmund J. Cooray Memorial Trophy for the Best Annual Report among banking institutions.
The Bank received the Gold award for Management Commentary and the Silver award for Integrated Reporting - Best Disclosure on Capital Management, at the 53rd edition of this prestigious awards ceremony of the Institute of Chartered Accountants of Sri Lanka, continuing its consistent run of success in this sphere.
This is the ninth time that Commercial Bank’s Annual Report has been judged the best in Sri Lanka overall and the 13th occasion the Bank has been presented the Gold Award in the Banking Sector by the country’s apex professional body in the domain of accounting.
Accepting the top award on behalf of the Bank, Chairman Dharma Dheerasinghe said: “The Annual Report is the single most important document and the means of communication with the stakeholders of any institution. With regard to banks, there is a wide group of stakeholders such as shareholders, depositors, borrowers, employees, other financial institutions, regulators, government agencies and suppliers that we need to address.”
He said the Bank has been benchmarking its Annual Report against those of companies in many other sectors locally and globally, in its efforts to continually improve the standards of reporting.a
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