Page 66 - 2596-CA SR Lanka- Annual Report 2022

VALUE CREATION REPORT

Key initiatives undertaken by the CA Sri Lanka - Technical Division in 2022

Focus Area Activity
Awareness Building y Webinar on “Perpetuating Family Business through Corporate Governance”

y Webinar on “Risk Management by Boards: Are we focusing it right?”
y Online awareness session Revisions of the Sri Lanka Auditing Standards and Related
Pronouncements
y Special webinar on the Impact of Foreign Exchange Issue on the Financial Statements
y Webinar on Financial Reporting in 2022: Special Considerations for Audit Committees
y Virtual Workshop on SLFRS for Small and Medium Sized Entities (SMEs)
y Webinar on “What is Hyperinflationary Accounting under LKAS 29”
y Special online session for Auditors of Specified Business Enterprises (SBEs)

y Webinar on SLFRS-9 - “Sailing Through the Crisis” (Special session for Banks and Finance
Companies)”
y Webinar Series on Integrated Reporting
y Webinar on Insights of SLFRS 16: Leases
y Webinar on SLFRS 13 - Role of fair value measurement amidst the current economic conditions
y Accounting Standards Seminar Series under the theme “Update your Technical Skills on Financial
Reporting”
y Webinar on Cyber (Digital) Forensic Fundamentals
y Online awareness session on Non-Financial Reporting Guideline
y Special Webinar on (Derivatives & Hedge Accounting)

The Association of Public Financial Accountants (APFASL)

Stakeholder Value Creation Scorecard continued its various efforts to strengthen Strategic Imperative
public financial management practices in
Regulators Developing Talent Pools
the country.
Skill Development and
Chartered Public Finance Accountant Specialisation
The Association of Public Financial (CPFA) qualification Thought Leadership
Accountants (APFASL) is the public sector Supported by a Memorandum of Standard Setting
wing of CA Sri Lanka. Formed in 2012, Understanding between CA Sri Lanka
the association is dedicated to providing and the Chartered Institute of Public Supporting Financial
specialist training and capacity building of Finance & Accountancy (CIPFA) London, Management of Entities
public sector finance professionals.
the APFASL offers the Chartered Public
Finance Accountant (CPFA) qualification.
The past few years have been the most In February 2023, the MOU with CIPFA
challenging times in the decade-long (UK) was renewed for another 3 years,
history of the APFASL. First the COVID-19 allowing APFASL to promote the CPFA
pandemic in 2020/21 followed by the qualification in the country both via direct
socioeconomic and political crisis in 2022, entry and via the examination route.
saw many public sector organisations
cutting back on their training budgets
Consequently, institutional demand
for training programs and professional
development activities declined notably
in 2022. Nevertheless, the APFASL

64 CA SRI LANKA | Integrated Annual Report 2022