8 January 2019 01:23 pm Views - 785
For the fourth consecutive year Brown & Company PLC walked away with the Silver award in the Trading Companies category at the recently concluded 54thAnnual Report Awards.The event which was organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and held at theShangri-La Hotel Colombo under the patronage of the Governor of the Central Bank Dr Indrajit Coomaraswamy, is the most prestigious competition for annual reports in the country which has helped to enhance the standards in financial reporting in line with global standards.Browns’ annual reports have received several accolades for its exacting reporting standards over the years.
The theme for this year’s competition was ‘Epitome of Brilliance’. The competition rewards organizations that produce the most cohesive, clear and customized annual reports that better reflect an entity’s operations, whilst going beyond their statutory boundaries of reporting, all while promoting transparency, accountability and good governance. This year over 130 applicants were vying for the top prize. The evaluation of annual reports was carried out over a three-month period and involved over 300 plus professionals, industry experts, academia, and business leaders.
This is the third integrated report by Browns, adopting globally recognized standards and practices including the Global Reporting Initiative (GRI) G4 guidelines, to present its economic, social and environmental performance.
"We are naturally elated to once again be adjudged the best among the trading companies, an area in which Browns has excelled for many years," the Company's Chief Financial Officer Mr.Thamotharampillai Sanakan said. "The Annual Report is the most vital medium of disclosure between an institution and its stakeholders and facilitates communication with our shareholders, suppliers, customers, employees, regulators and government agencies. I commend the entire team at Browns who worked to make this annual report worthy of its accolade’.”
CA Sri Lanka is the national professional accounting body and the sole authority in promulgating accounting and auditing standards in Sri Lanka. Established under Parliament Act No. 23 of 1959, the Institute has contributed immensely towards bringing the country's financial reporting to a firm footing, by adopting accounting and auditing standards in line with international standards and by following best practices in accounting. As the national body of accountants, the Institute has fulfilled its responsibilities towards the country and the profession in an exemplary manner.
Brown & Company PLC is a diversified conglomerate, managing a fast growing and valuable portfolio of brands across several key industry sectors, such as power generation, home and office solutions, agriculture and plantation support services, pharmaceuticals, investments, marine and manufacturing and healthcare. The deep understanding of the Sri Lankan consumer needs derived from being in business for over 140 years, has made the Group thrive in all its sectors of operation. The Browns Group has been able to evolve and adapt to changing times and most importantly, to changing customer needs.