Page 73 - 2596-CA SR Lanka- Annual Report 2022

FINANCIAL REVIEW

INCOME Composition of operating expenses
Income increased by 7% year on year, driven by sustained improvements across all
income sources. Despite higher student numbers, income generated through Learning 12% 62%
and professional development activities grew only by 3% owing to the conscious
decision made by CA Sri Lanka to refrain from increasing costs borne by students. 18% 10% 62%
21%
Similarly, member fee structures also remained unchanged. This together with the large 2021 2022
number of CPD conducted free of charge meant that income generated through CPD
7%
and other member activities grew by 16% year on year mainly due to physical presence
of the National Conference. 8%

Meanwhile income from Financial reporting and assurance standards related activities, Employee costs
grew by 41% year on year denoting a substantial increase compared to the previous Maintenance of premises
year. Depreciation and amortisation
Other expenses
Income (LKR Mn)

1,000 OPERATING EXPENSES
800 The combined impact of rising inflation
and the devaluation of the LKR against
600
the USD drove up operating expenses.
400 Consequently operating expenses
(excluding depreciation and amortisation)
200
859 918 603 853 913 increased by 21% year on year, driven
0 by a substantial increase in general
2018 2019 2020 2021 2022 expenses. Recommencement of normal
operations after the pandemic has
impacted to the increase in operating
expenses.
Gross income by activity (LKR Mn)

800 2021
700 653 675 2022
600
500
400
300
200 162 187
100
31 43 7 7
0 0.01 0.1
Learning and Continuous Financial Library-related Net
professional professional reporting and activities sponsorship
development development and assurance income
member related standards
activities related activities

CA SRI LANKA | Integrated Annual Report 2022 71