As we celebrate the TAGS Awards' unprecedented 59-year year old transformative history, we must collectively reflect on our shared mission to elevate corporate reporting and drive technological adoption in Sri Lanka.

In today's interconnected and data-driven world, corporate reporting transcends compliance. It is a strategic tool that communicates an organisation's performance, impact, and vision to its stakeholders. Corporate reporting is essential for fostering transparency, accountability, and trust, and professional bodies such as CA Sri Lanka play a pivotal role in guiding businesses towards responsible practices that extend beyond profit margins, addressing broader societal and environmental impacts.

For nearly six decades, the TAGS Awards have consistently and continuously celebrated excellence in annual reporting across a diverse range of organisations, spanning multinationals to blue-chip companies, conglomerates, and even SMEs.

This healthy competition, which has evolved from financial reporting to corporate reporting in line with current demands and expectations, has played a pivotal role in raising reporting standards in Sri Lanka through a robust evaluation process that incorporates three tiers of assessment. This evaluation not only guarantees credibility and thoroughness but has consistently ensured that the fundamentals of corporate reporting excellence, which are Transparency, Accountability, Governance, and Sustainability, are upheld.

As we look to the future, the imperative to adopt technology and embrace transformation is clear. By leveraging innovative solutions and modernising reporting practices, businesses can enhance their strategic communication, meet evolving stakeholder expectations, and navigate the complexities of the global market.

As we celebrate 59 years of progress at the TAGS Awards and commit to a future where technology and transformation drive excellence in corporate reporting, this prestigious competition is undoubtedly a key event in helping build a more transparent, responsible, and forward-thinking business landscape. Thus, I call on companies that produce annual reports to join the TAGS Awards 2024 and be true catalysts in the pursuit of reporting excellence.

Heshana Kuruppu
President of CA Sri Lanka

An annual report is the single most important instrument that discloses an organisation’s financial and non-financial performance. While the numbers on the report indicates the financial results of an organisation, there are many stories behind achieving these numbers. A good annual report highlights these background stories effectively so that it creates an understanding among its readers about the organisation, its values, its achievements, and its contribution to society. With increased emphasis on transparency, accountability, governance and sustainability, an annual report is expected to provide a more holistic view of an organisation’s performance, going beyond statutory disclosures. The TAGS Awards organised by CA Sri Lanka, encourages organisations to meet these global expectations and rewards these organisations for their excellence in corporate reporting.

Since the inauguration of the Annual Report Awards Competition in 1964, and its rebranding as the TAGS Awards in 2022, this competition has leveraged reporting as a key tool for promoting Transparency, Accountability, Governance, and Sustainability. In today’s interconnected and data-driven world, corporate reporting transcends mere compliance, serving as a strategic medium to communicate an organisation's current and future performance, along with its growth and sustainability.

This year, in our continuous endeavours to evolve, in addition to the 27 sector awards and 4 special awards for Integrated Reporting, Sustainability Reporting, Corporate Governance Disclosure, and Digital Reporting, we have introduced a new category, 'Non-Listed Companies with Export Revenue Exceeding USD 50 Million'. Additionally, the Corporate Governance Award will now be split into two distinct categories: one for Financial Services, encompassing banks, and another for Non-Banking Financial Institutions, which includes insurance and leasing companies. To further enhance the country's reporting standards, we are also introducing a compliance certificate for the special awards categories.

We look forward to seeing companies striving for recognition with the most transformative annual reports at this year’s TAGS Awards 2024!

Chamila Cooray
Chairperson – TAGS Awards Committee