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Master in Public Financial to be awarded Diploma certificates in April organisations, thereby enhancing the
Management (MPFM) Degree 2023. The second phase of the DLGFM accountability and transparency of local
Program program which is structured as a blended government authorities, statutory bodies,
learning session is in progress and is due provincial councils, and projects with
CAPA (Confederation of Asian and to be completed by July 2023. foreign funding.
Pacific Accountants) Case Study
on the APFASL Two additional assignments under UNDP The 6th edition of the BARA Awards in
TA also made good progress in 2022: The 2022 was based on a very comprehensive
In November 2022, CAPA published first assignment to prepare an internal guideline for the preparation and
a case study on CA Sri Lanka and audit (IA) manual for local authorities was presentation of annual reports and
its “Public Sector” wing, which completed by March 2023. The second accounts in all three languages. Another
showcases how CA has extended assignment was the series of special new feature of this year’s competition
its professional duties to the public upskilling workshops to educate local was the six-member panel appointed
sector, including the organisational government staff and encourage them to review submissions received under
arrangements established to deliver to participate in this year’s Best Annual each of the four institutional categories
these activities. The circumstances Report and Accounts (BARA) competition prior to the final review by the board of
at the time in Sri Lanka which for local government institutions. management. A total of 125 institutions
underpinned how the local PAO submitted entries for the competition,
‘entered this sector’ were unique, Supported by a TA from USAID PARTNER with 43 being honoured for excellence
namely the existence of an in Sri Lanka, the APFASL finalised in financial reporting at a ceremony held
organization already supporting arrangements to conduct a program on on 2nd of December 2022 at BMICH,
individuals with finance-related careers SLPSAS and IT skills for public sector Colombo while a further 59 received
in the public sector. officials. A Letter of Corporation (LOC) certificates of compliance.
was signed in June 2022 to launch the
program which commenced on the APFASL Annual Conference 2022
Taking steps to expand the range of 16th of February 2023. This program is
public sector qualifications on offer, the intended to train public sector accounting The APFASL’s 3rd annual conference took
APFASL sought approval of the Ministry and auditing professionals on SLPSAS place on December 2nd, 2022 with over
of Education to implement a new MPFM 11-20, thereby enhancing the quality of 250 members participating in the event
degree program. The overall objective of financial reporting in the public sector. held at the BMICH in Colombo. This
the MPFM Degree Program is to enhance The program will also increase public years’ conference was framed around
the professional competency of officers sector finance professionals’ awareness, the theme “Transforming Public Sector
dealing with public sector accounting and skills, and application of IT systems for for Economic Revival”, thereby drawing
financial reporting which would eventually data management, analysis, and strategic attention to the potential role of the sector
strengthen accountability, transparency decision-making. The training programs in the economic revival of post-Covid
and good governance. In particular, the on SLPSAS and IT are expected to benefit Sri Lanka. The chief guest at the event
MPFM Degree Program aims at providing approximately 1,800 accounting and was Mr. Mahinda Siriwardena, Secretary
candidates with knowledge of newly auditing professionals, across the island. of the Treasury, while keynote speaker,
introduced public sector accounting and Dr Nandalal Weerasinghe educated
reporting standards in order to streamline APFASL conducted two 5-day training the participants on some interesting
the financial management practices in the program for the benefit of middle and information about the government’s
public sector in Sri Lanka. senior management staff of CTB. The agenda in dealing with the crisis and the
relevant changes in the public sector
first was on “procurement management in relation to restructure and revive the
Training and Capacity Building
in the public sector” and the second economy.
One of the key capacity building activities was on “SLPSAS application in financial
for the year was the DLGFM Project, accounts”. Together both programs
a UNDP sponsored initiative that was saw the participation of over 100 CTB
awarded to APFASL in early 2022 for the employees who were issued certificates
purpose of training public sector officers of participation at the conclusion of the Launch the Master in Public
in the Northern, Eastern, Uva and North training. Financial Management (MPFM )
Central Provinces. APFASL conducted Degree Programme by mid 2023
these training sessions in Kilinochchi Best Annual Reports and Accounts
followed by Anuradhapura, Trincomalee (BARA) Awards Competition:
and Badulla. Examinations for these first The BARA Awards were launched in 2016
four batches that completed the course with the intention of improving financial
in December 2022, were held in January reporting standards among public sector
2023 with successful candidates are due

CA SRI LANKA | Integrated Annual Report 2022 65