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Public Sector Wing of CA Sri Lanka (APFASL) kicks off inaugural Best Annual Report and Accounts Awards competition for public sector

In an effort to enhance transparency and accountability in the public sector, and to encourage excellence in the presentation of information in the Annual Reports and Accounts, the Association of Public Finance Accountants of Sri Lanka (APFASL) has organized the inaugural Best Annual Reports and Accounts Awards competition for the public sector.

The competition is organized in collaboration with the Ministry of Finance and the Auditor General’s Department.

The main objective of the competition is help improve the quality of annual reports and accounts issued by the public sector, thereby improve transparency and accountability of ministries, departments, statutory boards, local authorities and foreign funded projects.

Organizations belonging to the public sector which has produced an annual report for the year ending on 31st December 2014, can vie for the Best Annual Report and Accounts Awards organized by APFASL. Applications for the competition are accepted till 30th of September 2015. The awards ceremony is scheduled to be held by the end of this year.

The main objective of the competition is to ensure the timely reporting of annual performance in a comprehensive manner to enhance transparency, accountability and good governance in the public sector.

A total of 3 awards will be given for each category, namely the Best Annual Report, followed by the first and second runners up, while there will also be an Overall Winner at the awards ceremony, for complying with all the requirements as stated per the guidelines of the competition.

Institutions will be classified under the categories of; Ministries, Departments, Provincial Councils, Universities, Statutory Boards, Municipal Councils, Pradeshiya Sabhas and Foreign Funded Projects.