Page 18 - 2596-CA SR Lanka- Annual Report 2022

CHIEF EXECUTIVE OFFICER’S REVIEW

held in March 2022. The event was very from the Ministry of Education to introduce FUTURE PLANS
well attended with a record number of three new degree programmes – the As we move to the future, we will strive to
CA students across Sri Lanka and SAFA Bachelor of Management in Business further enhance CA Sri Lanka’s credentials
countries such as India, Pakistan and Analytics (General) Degree, Bachelor as a globally recognised professional
Nepal. of Management in Business Analytics accounting body and ensure our members
(Honours) Degree and Master of Business are equipped with transferable skills that
The “CA Live” online programme launched Administration Degree. The launch of will enable them to pursue their chosen
to promote student engagement during these programmes in 2023 would cement careers anywhere in the world.
COVID-19 pandemic has since gained the SAB Campus’ position as Sri Lanka’s
good traction, becoming the most popular only dedicated centre of learning for a Equally importantly, we will continue to
medium for our students to connect world class degree program. focus on ensuring our students have
with the Institute. Based on what we access to world class infrastructure and
learnt from our interactions with students Another important milestone for the year resources to enable them to achieve
through the “CA Live”, we launched “UP was the SAB Campus annual convocation their educational goals. This would mean
CLOSE with CA” in 2022, as a monthly for the graduating class of 2022 held in building our core competencies in tandem
online forum for students to connect with December 2022. It was organised as a gala with the evolving needs of the profession
the Institute specifically to address issues event at the BMICH on 12th December - be it to satisfy the demand for Chartered
relating to their training. 2022, where 284 general degrees and 59 Accountants, Mid-level Accountants or
Special degrees were conferred. This is the various branches of financial specialisation.
TRAINING & LEARNING PARTNER highest number of graduates we have had In any case, CA Sri Lanka will aim to lead
ACCREDITATION in one graduation ceremony. the transformation of the accounting
33 new training partners were onboarded profession in Sri Lanka in line with the
to CA Sri Lanka training partner EMPLOYEE WELLBEING Institutes’ stated objectives.
accreditation programme during the year, Just like our members and students, our
bringing the total partner network to 909 as employees too were challenged by the APPRECIATIONS
at the end of 2022. negative economic climate in the country. Before I conclude, I wish to thank the
Recognising these difficulties, we made President and members of the CA Sri
The annual learning partner evaluation every effort to support our employees Lanka Governing Council for the guidance
programme was also conducted resulting to safeguard their financial and mental and unstinted support during what has
in 08 learning partners evaluated for higher wellbeing. Accordingly all salaries and other been an incredibly challenging twelve
status. We also appointed a subcommittee benefits and dues were paid on time and months. A special word of thanks also to
of the Education and Curriculum without delay, whilst maintaining the staff CA members serving on the Institutes’
Development Committee to revisit the cadre without any job losses. numerous committees that play an
current accreditation scheme to ensure important functional role in the work of CA
learning partner stay up to date with the As was the case with most organisations Sri Lanka.
latest needs for students. in Sri Lanka, skill attrition was a major
challenge for CA Sri Lanka in 2022. I would also like to take this opportunity to
BRANCH INFRASTRUCTURE Amidst this backdrop, we deployed thank my team of diverse and energetic
Based on the strategic direction given by various employee retention strategies employees whose commitment has
the CA Sri Lanka Governing Council, phase and also focused on morale building and empowered CA Sri Lanka to ride out
II of the branch infrastructure upgrade strengthening team spirit to keep our difficulties of 2022.
programme was implemented which employees engaged and invested in the
saw CA Sri Lanka’s Kandy branch being Institutes’ success. To our valued members, students and
relocated to fully refurbished new premises strategic partners who have been pillars
offering world-class facilities. The upgraded FINANCIAL RESULTS of strength in these tough times - while
Kandy branch, with its dedicated member CA Sri Lanka delivered consistent financial thanking you for your commitment, I seek
lounge, fully fledged IT lab and spacious results for the financial year 2022. Despite your continued support as CA Sri Lanka
study rooms is geared to accommodate some notable cost escalations, income looks forward to a more vibrant future in
the needs of students and CA members in over expenditure after tax Rs. 218 Mn for the coming years.
Kandy and the surrounding regions. the current financial year, was improved
against the Rs. 185 Mn reported in 2021.
SAB CAMPUS Reduction in operating income compared
After shifting to its new state-of-the-art to 2021, was mainly due to high inlfationary
premises in December 2021, the SAB costs that affected operational costs and
Campus made good headway in 2022. the decision not to increase main income Dulani Fernando
Encouraged by the strong increase in sources amidst escalating costs.
student registrations the SAB Campus Chief Executive Officer
moved ahead with plans to further diversify
its courses offered by seeking approval

16 CA SRI LANKA | Integrated Annual Report 2022