The Bank of Ceylon’s (BOC) ‘ABC of BOC’ Annual Report for 2017 was the winner of the Best Presented Annual Report Award in the Public Sector Banking Institution Category at the South Asian Federation Accountants (SAFA) Awards Ceremony held in Pune, India recently.
The South Asian Federation of Accountants (SAFA) is an Apex body of SAARC and an acknowledged accounting grouping of the International Federation of Accountants (IFAC).
Bank of Ceylon’s CEO and General Manager, Senarath Bandara said, “BOC always maintains its financial reporting standards to comply with the standards set by regulatory bodies and international reporting guidelines for financial institutions such as banks.
“Being a public owned Bank which has maintained an excellent record throughout its 79 years in the banking industry, transparency and accountability in our business matters. We ensure that we maintain all our reporting at the requisite standards that they represent the manner we maintain our reputation and integrity,” he said.
The awards are granted on the basis of improvement in disclosure, compliance, transparency, accountability and governance in financial reporting. ‘SAFA Awards’ recognises regional organisations which achieved standards of excellence in accordance with the framework stated by the International Accounting Standards Board (IASB) in preparation of financial statements.
Awards are presented in several categories, including public sector banking institutions, private sector banking institutions, insurance sector, financial services sector and manufacturing sector. This is the third time ‘ABC of BOC’ won an Award with significant recognition.
The Bank won three Gold Awards at the 32nd annual celebration of the World’s best annual reports - International ARC Awards 2018 in Germany, organised by the MERCOMM INC and the 54th Annual Report Awards Ceremony organised by the Chartered Accountants of Sri Lanka recognised the Bank of Ceylon as the Gold Award winner in the State Bank Category.