Page 44 - 2596-CA SR Lanka- Annual Report 2022

VALUE CREATION REPORT

Risk Event Implications to CA Sri Lanka Severity of Impact Risk Controls and Safeguards
compared to 2021
Competitive Staying up-to-date with latest global y Establishment of a quality assurance unit
pressure from the curriculums to ensure effective alignment with global
evolving global development
profession y Support specialisation in emerging
disciplines such as Forensic Accounting
y Increase awareness of the evolution of
the profession among members and other
stakeholders
y Commissioning third party experts to
provide independent quality assurance
reports on the existing curriculum and
recommend necessary changes to
content and delivery methods
Promote alternative entry pathways to y Building awareness on the multiple
the CA qualification exit routes for students under the new
curriculum

y Pursue MoUs with universities and other
professional bodies to open up more
exemption opportunities
Providing more robust avenues to y Developing new reciprocal arrangements
facilitate global member mobility with overseas accounting bodies
y Strengthening English language
competency and soft skills of students
and members
Reputational Need to protect the goodwill of the y Branding and effective communication
Damage Institute against negative perceptions to position the CA qualification as a
rewarding career for high achievers
y Review and update the Member Code of
Ethics in line with global best practices
and increase member awareness of
obligations and expectations

y Proposed implementation of a guideline
on ethical compliance for students

y Consult with representatives from key
stakeholder groups to obtain feedback on
areas for further improvement
Inflationary Higher operating costs due to rising y Cost saving initiatives and efficiencies
Pressure inflation have been identified and implemented
were possible, with the oversight of a
robust Finance team.
y Finance and Administration Committee
also supports this function through their
oversight work closely with the Institutes
finance team to oversee the deployment
various cost containment measures

42 CA SRI LANKA | Integrated Annual Report 2022