In the growing Sri Lankan economy, the significance of long-term benefit provisions for employees and employers is on the rise. Factors such as an ageing population, transparent accounting disclosure norms (under the Sri Lankan accounting standard LKAS 19) about the financial performance of companies and increased awareness are driving this trend.
Willis Towers Watson has analysed the company financial statements of 50 CSE 50 companies in Sri Lanka, as on 31 December 2015. This is a first of its kind study around employee benefits in Sri Lanka and aims to educate companies, auditors and key stakeholders on the drivers of employee benefit liabilities and costs disclosed in the annual reports/financial statements.
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