Celebrating 60 Years of Excellence

TAGS Awards 2025

By
Tishan Subasinghe
President, The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka)
Chamila Cooray
Chairperson, TAGS Awards Committee 2025 of CA Sri Lanka

Q: Marking 60 years, the TAGS Awards stand as a longstanding symbol of excellence in corporate reporting. What does this milestone mean for CA Sri Lanka and the corporate reporting landscape?

A: The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) is commemorating the 60^th anniversary, the Diamond Jubilee, of the TAGS Awards, Sri Lanka’s premier platform for excellence in corporate reporting. While the Awards marked 60 years in 2025, the Diamond Jubilee celebrations are being held on 12 February 2026, following an unavoidable postponement due to Cyclone Dithwah and the destruction it caused to our country and its people.

Held since 1964 originally as the Annual Report Awards Competition, the initiative has continuously evolved in line with changing corporate and regulatory expectations. In 2022, it was reconceptualised as TAGS, representing Transparency, Accountability, Governance and Sustainability. This evolution reflects a significant shift from a traditional financial reporting focus to a more holistic benchmark, underscoring the growing importance of responsible governance, long-term value creation and sustainable business practices in Sri Lanka.

For six decades, these awards have been more than just an accolade; they have served as a vital force in strengthening Sri Lanka’s financial and capital markets. By setting a national benchmark for both financial and non-financial disclosure, the TAGS Awards have been instrumental in helping promote investor confidence, elevating reporting standards and driving broader value creation.

This Diamond Jubilee milestone therefore reflects not only CA Sri Lanka’s unwavering commitment to raising reporting standards, but also the remarkable progress of our corporate sector in embracing ethical, transparent, and sustainable business practices.

Q: How have the TAGS Awards evolved over the years?

A: The transformation of the awards mirrors the transformation of business itself. While financial reporting remains the essential bedrock, we recognised that the value and resilience of a modern company are defined by much more. The reconceptualisation of the awards as TAGS in 2022 was a deliberate step towards championing a new era of reporting, especially one that integrates digitalisation, robust ESG (Environmental,

Social, and Governance) disclosures, and a clear narrative of long-term value creation. This evolution is underpinned by a strengthened evaluation framework, through which submissions are assessed via a rigorous three-tier process involving a panel of technical marking members, a panel of industry experts, and an independent final panel of judges, drawing on both local and international expertise. Complemented by a fully digitised AI-enabled evaluation platform, this approach enhances consistency, objectivity, and overall assessment quality while preserving professional judgement.

As a result, in the current context, the awards go beyond financial performance, evaluating governance frameworks, environmental stewardship, technological innovation, and social responsibility.  

Q: What is the theme of the 60^th Anniversary TAGS Awards, and why was it chosen?

A: The TAGS Awards celebrates its Diamond Jubilee under the theme “Diamond Chapter: The Grand Honour of Excellence.” This theme embodies our enduring commitment to recognising the highest standards of corporate reporting, which extends well beyond financial accuracy to embrace the broader imperatives of corporate responsibility and ethical leadership.

In today’s complex and interconnected business environment, stakeholders demand more than numerical performance alone. They seek meaningful, transparent insights into an organisation’s environmental, social and governance (ESG) practices, as well as its ability to create sustainable, long-term value. As we mark 60 years of excellence in corporate reporting, we honour organisations that transcend mere compliance and consistently set new benchmarks in transparency, accountability, governance and sustainability, shaping the future of responsible business in Sri Lanka.

Q: What new initiatives are shaping the TAGS Awards?

A: Several pioneering initiatives underscores the TAGS Awards’ strong commitment to innovation and continuous progress. Introduced in 2024, the TAGS Compliance Badge recognises organisations that meet rigorous evaluation criteria and adhere to globally accepted best practices in corporate reporting. The badge symbolises an entity’s commitment to strengthening transparency, accountability, governance and sustainability, and is featured on the Colombo Stock Exchange (CSE) website, further enhancing its visibility and credibility.

In a landmark development in 2024, TAGS also became the first corporate reporting competition in Sri Lanka to integrate Artificial Intelligence (AI) into its evaluation process, ensuring alignment with emerging global trends in reporting and assurance. Building on this pioneering foundation, Phase II of the AI enhancement was introduced in 2025, featuring two advanced capabilities, including a contextual chatbot designed to support markers throughout the evaluation process by providing intelligent, real-time guidance and responses to queries.

Further strengthening its reach and impact, the expansion of TAGS to include export sector companies and a broader range of industries encourages more organisations to adopt best practices and continuously elevate the quality and consistency of corporate reporting across the country.

Q: What do you hope to see in the next decade of corporate reporting in Sri Lanka?

A: We hope to see reporting that is increasingly holistic, integrated, and focused on all stakeholders. Companies should not only communicate their financial performance but also clearly articulate their societal and environmental impact, digital transformation initiatives, and commitment to ethical governance. The TAGS Awards will continue to guide and inspire organisations towards this vision, ensuring that Sri Lanka remains a leader in transparent and accountable reporting.

Q: Any closing thoughts on the landmark 60^th Anniversary?

A: The 60^th Anniversary of the TAGS Awards is a moment of both pride and reflection. It stands as a testament to the dedication of countless organisations, professionals, and stakeholders who have contributed to raising reporting standards in Sri Lanka.  

On behalf of CA Sri Lanka, we extend our warm congratulations to the winners of the TAGS Awards – Diamond Chapter, in recognition of their outstanding contributions to corporate reporting excellence and their commitment to upholding the “Grand Honour of Excellence.”

We would also like to express our sincere appreciation to the 2024/25 TAGS Awards Committee members, as well as to past committees, whose vision and commitment, over the past six decades have shaped the Awards into the prestigious platform it is today. We further extend our appreciation to the staff of the Institute, under the leadership of Chief Executive Officer Lakmali Priyangika, for their steadfast support.

As we mark 60 years of excellence, we remain firmly focused on shaping the future of corporate reporting, championing innovation, integrity and a more meaningful engagement with all stakeholders.