In recognition of their high-quality financial reporting, 12 public sector institutions received gold awards at the Best Annual Report & Accounts Awards 2021, organized by the Association of Public Finance Accountants of Sri Lanka (APFASL), the Public Sector Wing of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka).
The 12 main winners represented nine categories, spanning Universities, Research Institutes, Statutory Boards, Departments, Provincial Councils, Ministries, Urban Councils, Municipal Councils and Pradeshiya Sabha.
The gold winners at this year’s awards were the University of Peradeniya, University of Uva Wellassa, Coconut Research Board, Telecommunications Regulatory Commission of Sri Lanka, Department of Local Government NCP, North Central Provincial Council, Northern Provincial Council, State Ministry of Internal Home Affairs, Balangoda Urban Council, Kalutara Urban Council, Colombo Municipal Council and the Lankapura Pradeshiya Sabha.
The Best Annual Report & Accounts Awards were held alongside the Annual Conference of APFASL, which was held under the patronage of Secretary to the Treasury Mr. S R Attygalle, Secretary to the Ministry of Public Services, Provincial Services and Local Governments Mr. J. J. Rathnasiri, incoming President of CA Sri Lanka Mr. Sanjaya Bandara, President of APFASL Mr. V. Kanagasabapathy and CEO of CA Sri Lanka Ms. Dulani Fernando.
This year, APFASL received a total of 97 applications from public sector institutions vying for honours at the annual event which recognises public sector organisations for high-quality financial reporting.Apart from the gold awards, organisations were also recognised with silver and bronze awards.
Under the university segment, the University of Sri Jayewardenepura and the University of Wayamba won silver, while the University of Pali and Buddhist, the University of Ruhuna and the University of Sabaragamuwa shared the bronze award.
The National Engineering Research and Development Center of Sri Lanka (NERD) won the silver award under the research institutes segment, while the National Science Foundation walked away with the bronze. Meanwhile, the Employee’s Trust Fund won the silver under the statutory boards’ segment, while Srama Wasana Fund, Sri Lanka Export Development Board and the Economic Development Bureau – Western Province shared the bronze award.
In the department segment, Sri Lanka Air Force walked away with the silver, while the Department of Treasury Operations won the bronze. In the provincial councils’ category, the Southern Provincial Council won the silver, and the Northwestern Provincial Council won the bronze.
Under the ministries segment, the Ministry of Highways won the silver award, while the Ministry of Transport and Ministry of Ports & Shipping shared the bronze. In the urban council category, the Vavuniya Urban Council and Point Pedro Urban Council shared the silver award, while the bronze award went to the Puttalam Urban Council.
Under municipal councils, the Dehiwala – Mt. Lavinia Municipal Council walked away with the silver award, while under the pradeshiya sabha segment, the Palagala Pradeshiya Sabha and the Passara Pradeshiya Sabha won the silver, while the bronze was shared by Rajanganaya Pradeshiya Sabha, Kekirawa Pradeshiya Sabha, and Warakapola Pradeshiya Sabha.
Addressing the event, Mr. Sanjaya Bandara said that the public sector, including public sector accountants, are well-positioned to support Sri Lanka’s path to recovery in a post-pandemic era.
Mr. Bandara said that the pandemic has been a wake-up call to all, regardless of which sector the professionals represent. “We must join hands to help rebuild our economy. I urge members of the public sector to use this opportunity to think out of the box and be creative. Each of you can play an impactful role in helping Sri Lanka bounce back, and there is no better time than now,” he said.
Mr. Kanagasabapathy said that strong public financial management is imperative to achieve the important long-term goals of the country. Therefore, APFASL’s main objective since inception has been to help strengthen the public financial management practices in Sri Lanka by professionalizing public financial management personnel in line with international best practices.
“The Public Sector Best Annual Reports and Accounts Awards has become an important annual event in our calendar of activities, as it plays an integral role in helping public sector organisations enhance transparency, accountability, and good governance,” he said.