Nine public sector institutions including universities, ministries, statutory boards, municipal councils and pradeshiya sabhas excelled for their high-quality financial reporting at the third Best Annual Report & Accounts Awards 2019 organised by the Association of Public Finance Accountants of Sri Lanka ( APFASL), the Public Sector Wing of CA Sri Lanka.
In total, 22 public sector organisations were honoured at the awards ceremony held on 25th October 2019 at BMICH held under the patronage of Mr. Udaya R. Seneviratne, Secretary to the President and Mr. Gamini Seneviratne, Secretary to the Ministry of Internal & Home Affairs and Provincial Councils & Local Government.
The University of Sri Jayewardenepura was adjudged the winner under the universities’ category, while University of Moratuwa was adjudged first runner up, and the University of Peradeniya was the second runner up.
The National Science Foundation won the research institutions category, while the National Engineering Research and Development Center of Sri Lanka (NERD) was the first runner up and the Industrial Technology Institute was adjudged second runner up.
The Employees Trust Fund Board bagged the Statutory Board category award, while the Coconut Cultivation Board was the first runner up and the Marine Environment Protection Authority was the second runner up.
The Internal & Home Affairs and Provincial Councils & Local Government was adjudged the winner under the ministries’ category, while Sri Lanka Air Force was the winner under the departments’ category.
Office of the Chief Secretary – Northern Province was the winner of the provincial councils’ category, while the Office of the Chief Secretary – North Central Province was adjudged first runner up and the Office of the Chief Secretary – Eastern Province was the second runner up.
Under the urban councils’ category, Balangoda Urban Council bagged the main award while the Vavuniya Urban Council was the first runner up followed by Kalutara Urban Council which received the second runner up award.
The Dehiwala – Mt. Lavinia Municipal Council was the winner under the municipal councils’ category, and the Colombo Municipal Council was adjudged the first runner.
Under the pradeshiya sabhas’ category, Nattandiya Pradeshiya Sabha was adjudged the winner, and the Karuwalagaswewa Pradeshiya Sabha was the first runner up while the Passara Pradeshiya Sabha became the second runner up.
The Best Annual Report and Accounts Awards organised by APFASL for a third consecutive year, aims to improve the quality of annual reports and accounts published by the public sector, with the ultimate aim of helping improve transparency and accountability in financial reporting.
The awards were held alongside the annual Chartered Public Finance Accountancy (CPFA) Convocation, where 32 public sector accountants and auditors were conferred with the qualification which has been developed by APFASL and the Chartered Institute of Public Finance and Accountancy (CIPFA) London. The CPFA qualification aims to help strengthen the public sector financial management in Sri Lanka.
CA Sri Lanka President Mr. Jagath Perera said that since being established, APFASL has been instrumental in offering various programs aimed at enhancing the standing of the public sector finance management officials, while also ensuring that they conduct themselves in the public interest by promoting good governance, transparency and accountability, which are cornerstones of any developing economy.
APFASL President V. Kanagasabapathy said the success of a country’s economy depends on strong public financial management. “In our capacity as the public sector wing of the Institute of Chartered Accountants of Sri Lanka, APFASL’s main objective is to strengthen public financial management practices in the country through professionalizing public financial management personnel in line with international best practices,” he said.