Sri Lanka Union Assurance tops regional accounting awards

Jan 14, 2008 (LBO) – Sri Lanka's Union Assurance has won a top South Asian breitling replica watch regional award for its annual report soon after it bagged a top spot in a competition run by the island's own accounting body. The South Asian award came just after the Union Assurance won 'Overall Best Annual Report' in an awards scheme run by the Institute of Chartered Accountants of Sri Lanka (ICASL). The composite insurer had won 'Overall Best Presented Accounts at the South Asian Federation of Accountants award on January 12, in New Delhi, the company said.

"The SAFA Award for the ˜Best Presented Accounts’ evaluates companies on corporate performance, accounting policies and disclosures, governance and stakeholder information, timeliness in issuing accounts, holding annual general meetings and annual report presentation," the company said.

SAFA was formed in 1984 to serve the accountancy profession in the South Asian Region.

SAFA is also an Apex Body of the South Asian Association for Regional Co-operation (SAARC) and the Regional Grouping of International Federation of Accountants (IFAC).

SAFA represents over 170,000 accountants that are members of national chartered accountancy and cost and manage