Financial reporting environment in Sri Lanka

Financial reporting environment in Sri Lanka

 

Team Report Requirements:

1. Your team needs to locate a publically listed company in Sri Lanka, listed on the Colombo Stock Exchange (CSE) that operates in a similar environment to Sekara Hotels Ltd, (i.e. in the hotel and leisure industry). Your team also need to find the reports produced by this company for its stakeholders (this would generally include the annual report and other reports such as sustainability reports). These reports are normally available on the companies? websites.

2. Drawing upon your identified company, its annual report, and other reports, you are required to present a written report to Sekara Hotels Ltd outlining your findings regarding the following issues:

1. A description of the financial reporting environment in Sri Lanka:
a. What are current financial reporting requirements for publically listed companies in Sri Lanka? Your report should describe recent changes in Sri Lankan reporting requirements since 2000, and any likely future changes in Sri Lankan reporting requirements.
b. What are the cultural influences on financial reporting in Sri Lanka?
c. Identify the political processes that are influencing the setting of accounting standards in the Sri Lanka.

2. A description of the reporting (financial and non-financial) undertaken by the company you have identified, in particular:
a. The information provided in the annual report

c. A discussion of how the financial reporting environment you discussed in question 1 and the company?s stakeholders appear to have influenced your chosen company?s reporting practices.

Your report should incorporate relevant accounting theories into your discussion (e.g. regulatory theories, cultural theories, systems orientated theories).

Your report must be fully referenced in text and include a list of references. You should keep in mind that your report is for a client of your firm

i only need second part. which is
2. A description of the reporting (financial and non-financial) undertaken by the company you have identified, in particular:
a. The information provided in the annual report

c. A discussion of how the financial reporting environment you discussed in question 1 and the company?s stakeholders appear to have influenced your chosen company?s reporting practices.

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