Transparency International Sri Lanka (TISL) launched its report on Transparency in Corporate Reporting (TRAC) for the year 2022, which assesses the top 100 Public Limited Companies on the Colombo Stock Exchange (as per market capitalization on 5th July 2022) on their level of transparency in the disclosure of information. The assessment is being conducted for the third consecutive year. The research methodology adopted, draws on the TRAC Methodology created by the Transparency International’s Secretariat, in Berlin, Germany and has been conducted in several countries by Transparency International National Chapters, such as Brazil, Chile, Russia, Vietnam and Spain.
According to the TRAC Report 2022, companies on average have been found to be partially transparent in corporate reporting, with an average score of 5.42 out of 10, where 0 is the least transparent and 10 is fully transparent. John Keells Holdings and Teejay Lanka rank first, recording the highest overall scores in the assessment. These two were the only companies to obtain the full overall score for transparency in disclosure practices in the 2022 TRAC Assessment. Dilmah Ceylon Tea Company ranks third.
The TRAC assessment scores and ranks companies on several thematic areas crucial to fighting and preventing corruption: reporting on anti-corruption programmes, transparency in company holdings, the disclosure of key financial information in domestic operations and disclosure on gender and non-discrimination policies. Companies were scored and ranked based on publicly available information pertaining to the company. Information was sourced from the latest annual reports (2021 or 2021/22) published by companies, company websites, and other publicly available company documents. Each company’s individual scoresheet can be viewed at www.tisrilanka.org/trac2022.