Sri Lankan accountants body aims to improve public sector financial reporting
ECONOMYNEXT – The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has launched a competition for the ‘Best Annual Report and Accounts Awards’ for public sector aiming to improve financial reporting of government entities.
“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 statement said.
The competition is organized by the Association of Public Finance Accountants of Sri Lanka (APFASL), the public sector wing of CA Sri Lanka, in an effort to enhance transparency and accountability in the public sector.
It 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, improving transparency and accountability of ministries, departments, statutory boards, local authorities and foreign funded projects.”
Organizations belonging to the public sector which have produced an annual report for the year ending on 31st December 2014, can take part in the contest organized by APFASL.
Applications for the competition are accepted till 30th of September 2015 with the awards ceremony scheduled to be held by the end of this year. (Colombo/August 5 015)