Page 12 - CA Sri Lanka Integrated Annual Report 2023
P. 12
PRESIDENT’S MESSAGE
Lanka remained dedicated to serving
our members, students, and the public,
focusing on professional development,
fostering networking connections, and
spearheading advocacy initiatives for both
the growth and success of our nation.
As the National Body of Accountants, we
have been immensely proud of our crucial
and impactful regulatory role since 1959
in elevating the bar of the accounting
profession in Sri Lanka. To effectively
deal with the complexities of financial
reporting, regulatory compliance, and
strategic decision-making, it is imperative
to maintain unwavering momentum in this
respect.
Given Sri Lanka’s unique position in the
Indian Ocean and the growing global
interconnectedness, accountants are
essential to maintaining financial integrity,
attracting investment, and fostering
sustainable prosperity. As such, CA Sri
As the National Body Dear Members, Lanka has continued to accept its critical
of Accountants, we The economic crisis that swept through role and has been at the forefront in
driving excellence within the accounting
Sri Lanka in 2022, undoubtedly tested
have been immensely the resilience of our economy, our profession across Sri Lanka during the
proud of our crucial and communities, and even the professional year under review.
landscape in 2023. But, amidst the
impactful regulatory adversity, the role of Chartered Reinforcing Our Influential Role
Accountants emerged pivotal in navigating
role since 1959 in the turbulent waters of the crisis, as well Whether it was navigating complex
regulatory landscapes, restructuring
elevating the bar as the subsequent post-pandemic period financial operations, or devising
throughout 2023 —a year characterized by
innovative solutions to mitigate risk, CA
of the accounting remarkable rebound for us as a country. Sri Lanka stood at the forefront of the
profession in Sri Lanka. The economic crisis of 2022, exacerbated battle against economic uncertainty.
The year 2023 is critical for CA Sri
To effectively deal by the lingering effects of the COVID-19 Lanka for a varied number of reasons.
pandemic, presented multifaceted
with the complexities challenges to Sri Lanka. From supply Critical among it was our continuously
expanding role as we continued to make
of financial reporting, chain disruptions to heightened financial significant contributions to the national
volatility, the landscape was fraught with
economy by engaging with multiple
regulatory compliance, uncertainty. Yet, it is during such times stakeholders including the Government
of uncertainty that the expertise and
and strategic decision- dedication of Chartered Accountants of Sri Lanka (GOSL), apart from also
providing professional advice on the
making, it is imperative shine brightest. As custodians of financial country’s debt restructuring and finance
integrity and stewards of economic
to maintain unwavering stability, our profession played a pivotal management, fulfilling a key requirement
of the International Monetary Fund (IMF)
momentum in this role in mitigating the impact of the crisis. negotiations with GOSL.
respect. The dawn of 2023 brought renewed We also submitted proposals to the
optimism for us as a nation, as we Ministry of Finance for the National
continued to overcome the many Budget – 2024, outlining a series of
challenges. Throughout 2023, CA Sri
10 CA Sri Lanka Integrated Annual Report 2023
