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STRATEGY REPORT

INTERNATIONAL APEX BODIES

International Apex Bodies Engagement Mechanisms Frequency
provide a global platform to
popularise the CA qualification Meetings, webinars and conferences As required
on a global scale and enable CA Representation and active participation in committees As required
Sri Lanka to gain international Feedback on exposure drafts to support evolution of accounting and As required
recognition. auditing standards
Feedback on exposure drafts impacting the evolution of the profession As required

y Compliance with statements of member y Upholding high standards of conduct and ethics
Key obligations y Research and insights from local markets
Concerns y Collaboration and active participation to develop
accounting profession globally

CA Sri Lanka’s Commitment CA Sri Lanka currently holds a position y Committee on Professional Ethics and
Over the years, CA Sri Lanka has built on the CAPA board and members of Independence
strong ties with the following leading CA Sri Lanka represent in the Member y Committee on Auditing Standards and
international apex bodies; Development Committee and the Public Quality Control
Sector Financial Management Committee.
International Federation of Accountants y Committee on Professional
(IFAC) South Asian Federation of Accountants Accountants in Business
(SAFA)
With over 180 member and associate SAFA is a forum of professional y Small & Medium Practices Committee
organisations in 135 countries and accountancy bodies committed to y Committee to Study Fiscal Regimes
jurisdictions, IFAC is recognised as positioning, maintaining and developing and Other Statutory Requirements of
the foremost global organisation for the accountancy profession in the South Business in SAARC countries
accounting professionals, dedicated Asian Association for Regional Cooperation
to safeguarding public interest in the (SAARC) Region and ensuring its continued y Committee on Governmental and
financial reporting arena. Public Sector Enterprises Accounting
eminence in the world of accountancy and
acting in the public interest towards broad y International Relations Committee
CA Sri Lanka holds full membership at economic development of the region.
IFAC and complies with the Statements of y Committee for Co-Operatives and NPO
Member Obligations. Sectors
CA Sri Lanka has been a member of
SAFA since 1984 and currently holds a y Women Leadership Committee
At present CA Sri Lanka is represented in Board position and a Board Technical
IFAC’s International Panel on Accountancy Advisory position on SAFA. SAFA y Committee on Information Technology
Education and the International Public Committees on Accounting Standards
Sector Accounting Standards Board and for Improvement in Transparency, y Committee on Anti Money Laundering
(IPSASB). y Task Force to Implement UDIN in SAFA
Accountability and Governance are all
chaired by members of CA Sri Lanka. Member Bodies
Confederation of Asian and Pacific
Accountants (CAPA) Chartered Accountants Worldwide (CAW)
CA Sri Lanka members also represent in
Established in 1957, CAPA is a regional several SAFA committees and task forces: Represented in over 180 countries, the
organisation representing 32 national CAW is committed to raising the bar in
professional accountancy organisations y Committee for Improvement in accounting professionalism by sharing
(PAOs) from 23 jurisdictions that operate Transparency, Accountability and expertise and empowering Chartered
in, or have an interest in the Asia-Pacific Governance Accountants. CA Sri Lanka is an Associate
region. Member of CAW.
y Committee on Accounting Standards
CA Sri Lanka holds full membership of y Committee on Education, Training and
CAPA.
CPD

34 CA SRI LANKA | Integrated Annual Report 2022