The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) partnered with the Colombo Stock Exchange (CSE) to ‹Ring the Bell,› marking a symbolic moment as CA Sri Lanka officially launched the TAGS Compliance Badge, affirming its commitment to promoting enhanced transparency and excellence in corporate reporting. This event also marked CA Sri Lanka’s first-ever ‹Ring the Bell› occasion at CSE.
The chief guest was Chairman and Chief Executive of Hayleys, Mohan Pandithage. CA Sri Lanka’s President Heshana Kuruppu, Vice President. Tishan Subasinghe, Immediate Past President Sanjaya Bandara, Chairperson of the TAGS Committee Ms. Chamila Cooray, Former Committee Chair Thivanka Jayasinghe, CEO Asoka Piyadigama, as well as CSE Chairman Dilshan Wirasekara, and CEO Rajeeva Bandaranaike were also present.
The TAGS Awards, an evolution of the esteemed Annual Report Awards Competition with a legacy spanning over 58 years, represent a significant milestone in CA Sri Lanka’s journey.
In 2022, CA Sri Lanka reconceptualised and rebranded this competition, placing emphasis on non-financial reporting alongside traditional financial reporting. The aim of TAGS is to recognise organisations for embracing digitalisation, transparency, accountability, governance, and sustainability in line with evolving stakeholder demands.
The launch of the compliance badge also marks a new chapter in corporate recognition, as the badge serves as a testament to the commitment of participating companies to meet the rigorous criteria set forth by CA Sri Lanka, signifying adherence to best practices in financial and non-financial reporting.
Heshana Kuruppu said, “By introducing the TAGS Compliance Badge, we are ushering in a new era of corporate excellence and accountability, highlighting CA Sri Lanka›s steadfast dedication to promoting transparency and integrity in financial reporting.”
The TAGS compliance badge is not only about the amount of money a company makes, but it also reflects how that money is earned. The TAGS badge showcases to the world that companies receive it because they operate ethically,» he said.
Dilshan Wirasekara said, “What this compliance badge will do to our market is position listed companies at the forefront of transparent financial reporting, encompassing social, environmental, and governance aspects. This would give investors, especially foreign investors, greater credibility that companies are broadly in compliance with these principles.”
The TAGS Compliance Badge symbolises an entity›s dedication to strengthening transparency, accountability, governance, and sustainability factors.
The badge will also be featured on the CSE website. Companies which are awarded the TAGS Compliance Badge can leverage this accreditation to enhance their brand reputation, showcase their commitment to stakeholders, and differentiate themselves in the marketplace.
The badge will also serve as a third-party endorsement of a company’s compliance with the TAGS Awards criteria, further solidifying their position as entities that work towards strengthening transparency, accountability, governance, and sustainability.
