12th December 2017, Colombo: Brown & Company PLC (Browns) walked away with the Silver award in the Trading companies category at the 53rd Annual Report Awards competition organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) on 5th December 2017 at the Bandaranaike Memorial International Conference Hall. The Annual Report Awards competition of CA Sri Lanka 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 report over the years has received accolades for its exacting reporting standards.
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.
The Annual Report Awards competition in its 53rd year was revolved around the theme “Quintessence of Eminence” which signifies the recognition of annual reports which carries core elements of transparency, good governance, and social responsibility while going beyond the statutory boundaries of reporting.
This is the second 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.
Mr. Thamotharampillai Sanakan, Chief Financial Officer, Browns Group stated, ‘Browns is delighted to win the Silver award in the trading segment at Annual report awards ceremony of CA Sri Lanka, amongst fierce competition in this category. These awards have achieved in mobilizing companies to adopt better reporting standards and now our annual reports compare well with global counterparts. I would like to thank the Institute for its tireless pursuit of driving excellence in reporting. The Browns annual report is a true reflection of our good governance and high levels of stakeholder engagement. I commend the entire team at Browns who worked to make this annual report worthy of its accolade’.