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| Sunday, 2 May 2004 |
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Business |  |
| News Business Features Editorial
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Best annual Report award won by Eagle Eagle Insurance Company maintained its unbroken record in winning the award for the Best Corporate Annual Report and Accounts in the Insurance sector for the tenth successive year. Eagle thus continues to dominate the Insurance sector winning the top award every year. "The Company's Accounts have clearly and consistently been in compliance with statutory requirements and best accounting practice standards," an Eagle spokesman said referring to its ability to win the coveted award year after year 2002 annual report was developed on the core theme of 'trust-extended to all stakeholders' and this achievement signifies company's adherence to fundamentally sound corporate strategies and prudent business philosophy in a consistent manner. The awards for the Best Corporate Report and Accounts is an event much looked forward to by the corporate world. It is organised annually by the Institute of Chartered Accountants of Sri Lanka (ICASL). At this year's award presentation, World Bank Country Director said that the Annual Report was a mirror of an institution's performance and it enhanced investor and stakeholder confidence. Commenting on the accounting standards in Sri Lanka, ICASL President Indrajith Fernando, said 'a recent survey on the statutes of accounting standards in India, Pakistan, Bangladesh and Sri Lanka has shown that Sri Lanka is far ahead of its neighbours. Sri Lanka is ahead in the adoption of international accounting standards and development of national standards in instances, where there are no international standards and effective standard setting process' he said. Sri Lanka is also among the ten countries to have developed accounting standards for small and medium enterprises. |
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