February 08th, 2022: Kicking off 2022 on a victorious note, pioneering healthcare provider Nawaloka Hospitals, garnered the highly coveted award for the Best Integrated Report within the healthcare sector, at the CMA Excellence in Integrated Reporting Awards 2021. Nawaloka Hospitals also went on to receive a Merit Award for Overall Integrated Reporting Practices.
Organised by the Institute of Certified Management Accountants of Sri Lanka (CMA), the awards ceremony, held for the eighth successive year, was introduced to promote both listed and unlisted Sri Lankan companies as well as state-owned enterprises and small and medium enterprises to undertake integrated reporting, for the benefit of both investors and stakeholders.
“Nawaloka Hospital’s outstanding win at the revered CMA Excellence in Integrated Reporting Awards stands testament to the firm commitment that we have made to adhere to the highest standards of integrated financial reporting for many years now. Integrated reporting is particularly important to healthcare companies as we deal in transparency, trust and social responsibility of the highest levels with all our stakeholders. The COVID-19 pandemic only amplified this need for the disclosure of healthcare operations in both financial and non-financial terms. I would like to congratulate and thank our deeply dedicated team for their proactive drive to produce such an exceptional Annual Report utilizing impactful, best-in-class financial reporting practices of international standards,” Nawaloka Hospitals Chairman Dr. Jayantha Dharmadasa said of the victory.
The integrated reports are evaluated using guidelines applicable in the International <IR> Framework issued in December 2013. The evaluation considers not only the accounting and financial information but also the non-financial information provided in <IR>. Forty One companies had submitted applications and were reviewed by a competent evaluation panel and an eminent panel of international and local judges.
Nawaloka Hospital’s Integrated Annual Report voluntarily embraces global benchmarks such as the ‘International <IIRC> Framework’ and the Global Reporting Initiative (GRI) Standard ‘Core’ options. This is part of the company’s vision to share its journey of value creation with all its stakeholders by adopting the Six Capital Reporting Framework, under the Integrated Reporting Framework. This past year also saw the Hospital Chain bag the highly coveted gold award for exceptional integrated financial reporting practices within the healthcare sector, at the CA Sri Lanka’s 56th Annual Report Awards.