Annual Report 2011 - 2012 - Colombo Stock Exchange
Annual Report 2011 - 2012 - Colombo Stock Exchange
Annual Report 2011 - 2012 - Colombo Stock Exchange
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05<br />
CORPORATE GOVERNANCE<br />
D. Accountability and Audit<br />
D.1 Financial <strong>Report</strong>ing<br />
The Board should present a balanced and understandable assessment of the Company's financial position, performance and prospects.<br />
Code<br />
Reference<br />
Corporate Governance Principles<br />
Compliance<br />
Status<br />
Company's Compliance with the Code<br />
D.1.1<br />
The Board's responsibility to present a balanced<br />
and understandable assessment extends to<br />
interim and other price-sensitive public reports<br />
and reports to regulators, as well as to<br />
information required to be presented by<br />
statutory requirements.<br />
Compliant<br />
In preparing of annual and quarterly Financial<br />
Statements, Company complies with the<br />
requirements of the;<br />
? Companies Act No. 07 of 2007<br />
? Sri Lanka Accounting Standards, and<br />
? Listing Rules of the <strong>Colombo</strong> <strong>Stock</strong><br />
<strong>Exchange</strong>.<br />
The annual and interim Financial Statements are<br />
published within the time periods prescribed by<br />
the Listing Rules of the <strong>Colombo</strong> <strong>Stock</strong> <strong>Exchange</strong>.<br />
D.1.3<br />
The <strong>Annual</strong> <strong>Report</strong> should contain a statement<br />
setting out the responsibilities of the Board for<br />
the preparation and presentation of Financial<br />
Statements, together with a statement by the<br />
Auditors about their reporting responsibilities.<br />
Compliant<br />
The statement of the Directors' Responsibilities<br />
for Financial Statement is stated under the<br />
Financial Statements on page 23.<br />
The Auditors' Responsibilities regarding the<br />
<strong>Annual</strong> Financial Statements are outlined in the<br />
Auditors <strong>Report</strong> on page 27.<br />
The <strong>Colombo</strong> Pharmacy Company PLC<br />
<strong>Annual</strong> <strong>Report</strong> <strong>2011</strong> - <strong>2012</strong><br />
Corporate Governance<br />
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