CA Sri Lanka rings CSE Bell launching TAGS Compliance Badge
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) launched the TAGS Compliance Badge, aimed to be a symbol of excellence and adherence to the highest standards of financial and non-financial reporting among corporates in 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 unveiling of the TAGS Compliance Badge was witnessed by Chief Guest Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC, as well as CA Sri Lanka’s President Heshana Kuruppu, Vice President Tishan Subasinghe, Immediate Past President Sanjaya Bandara, Chairperson of the TAGS Committee Chamila Cooray, Former Committee Chair Thivanka Jayasinghe, CEO Asoka Piyadigama, CSE’s Chairman Dilshan Wirasekara, and CEO Rajeeva Bandaranaike.
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 reconceptualizedand rebranded this prestigious competition, placing emphasis onnon-financial reporting alongside traditional financial reporting. 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.”
“Furthermore, 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,” Kuruppu added.
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.
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