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which was followed by a second paper prevailing macroeconomic environment is provide leadership at board level for top
on “Forensic Accounting Education: An affecting various sectors of the economy. companies in the country. The directory
Exploration of Accounting Curricula of State is updated annually by CA Sri Lanka to
Universities in Sri Lanka” delivered by Dr. Given the severity of the economic showcase the pool of talented board-ready
M. A.T.K. Munasinghe. challenges in 2022 CA Sri Lanka engaged female Chartered Accountants who are
more frequently with corporates and geared to take on leadership roles.
The second technical session focused on industry experts. CA Sri Lanka also held
“Challenges in IFRS Implementation and meetings with the representatives of SAFA Best Presented Annual Report
Non-Financial Reporting,” with Ms. P.P. the International Monetary Funds (IMF) (BPA) Awards
Abeykoon presenting the third paper titled on 23 June 2022 and 29 August 2022, CA Sri Lanka hosted the SAFA Best
“Corporate Internet Reporting in Sri Lankan focusing specifically on current issues and Presented Annual Report Awards,
Listed Companies” and the fourth paper the way forward for Sri Lanka’s financial Integrated Reporting Award and SAARC
on “Challenges in Respect of Revenue system. Insights gained through these Anniversary Award for Corporate
from Contracts with Customers (IFRS 15): various interactions along with CA Sri Governance Disclosures 2020. The SAFA
Evidence from the Software Development Lanka’s recommendations for proposed BPA Awards organised by the South
Industry in the Western Province of Sri policy reforms were submitted for the Asian Federation of Accountants (SAFA) is
Lanka” was by Ms. N. Gurusinghe. The consideration of relevant regulatory bodies. considered the most prestigious accolade
final paper of the day was on “Impact for financial reporting in the South Asian
of the Extent of Integrated Reporting Women Empowerment and region and has played a catalyst role
Adoption on Financial Performance: Leadership Development Initiatives in promoting excellence and effective
Evidence from Financial Sector Companies Striving to promote greater female communication in the presentation of
in Sri Lanka” delivered by C. Shabilnath. participation in leadership roles, the CA Sri high-quality, relevant, reliable and objective
Lanka corporate website was updated to financial and non-financial information for
Contribution to Economic Reforms provide easy access to the Board Ready over two decades.
Being the leading professional accounting Female Members Directory published by
body in Sri Lanka, CA Si Lanka is frequently CA Sri Lanka annually. The event held on 09 February 2022 was
called upon to submit opinions and done in a hybrid format, combining physical
recommendations for economic reforms. The Board Ready Female Members attendance and virtual participation.
To facilitate this, CA Sri Lanka regularly Directory contains a database of female SAFA Member Bodies from Bangladesh,
engages with corporate leaders and Chartered Accountants who have been Pakistan and Nepal connected with to the
industry experts to ascertain how the members of CA Sri Lanka for over 10 years proceedings in Colombo virtually,
and possess the necessary expertise to

SME Task Force

Stakeholder Value Creation Scorecard Strategic Imperative financial literacy programme to mark
the Global Entrepreneurship Week
Supporting Financial
Members 2022. A series of programmes was run
Management of Entities
Corporates concurrently in Colombo, Kandy and Galle
Strategic Partners in partnership with the National Enterprise
CA members to systematically guide the Development Authority (NEDA). To
The CA Sri Lanka SME Task Force is part SME under their purview to develop their coincide with the programme, the SME
of the Institute’s multi pronged approach respective business. These efforts are Task Force published the first addition
to support the growth and development further augmented by financial literacy and of its new bi-lingual (Sinhala and Tamil)
of various sectors of the economy. other capacity building initiatives made information booklet for SME’s, which will
Launched in 2020 at the height of the possible through MoUs between CA Sri henceforth be updated annually.
COVID-19 pandemic, the main objective Lanka and various chambers, the National
of the SME Task Force at the time was to Enterprise Development Authority
provide advisory services to create more (NEDA), Export Development Board
resilient SME’s capable of withstanding (EDB), state universities, banks as well as Conducted a Policy Dialogue -
pandemic induced challenges. To facilitate other knowledge sharing bodies. connecting the dots to strengthen
this objective, the SME Task Force seeks the SME sector with like
the expertise of senior members of the In 2022, the SME Task Force in minded partners and research &
CA community to act as mentors for collaboration with several of these entities Development arms of the state
individual SMEs. A structured mentoring carried out a total of 14 capacity building sector universities.
programme was put in place to support programmes for SMEs, including the

CA SRI LANKA | Integrated Annual Report 2022 67