Page 66 - CA Sri Lanka Integrated Annual Report 2023

VALUE CREATION REPORT

Key initiatives undertaken by the CA Sri Lanka Technical Division in 2023
Focus Area Activity
International As a key player in the regional accounting landscape, CA Sri Lanka actively contributed to various international forums
Relations and initiatives. The SAFA Strategy Meeting – 2023 was held on 18th February 2023 in Colombo and SAFA Accounting
Standards Forum and Board Meetings were organized and held in Maldives from 18th August to 22nd August 2023.The
commitment and dedication demonstrated by CA Sri Lanka were highly appreciated by the SAFA Board for enhancing
regional collaboration and knowledge sharing.
CA Sri Lanka hosted the Conference Marking Sessions of the SAFA Best Presented Annual Reports Competition at CA
Sri Lanka, Colombo. Delegates from India, Bangladesh, Nepal and Pakistan participated in the marking session this year.
Additionally, CA Sri Lanka’s participation in the Asian-Oceanian Standard-Setters Group (AOSSG) and the International
Forum of Accounting Standard Setters (IFASS) meetings facilitated discussions on global accounting standards adoption
and contributed to the development of high-quality accounting practices.

Technical Seminars and Workshops Conducted by CA Sri Lanka in 2023
Below is a summary of the technical seminars and workshops organized by CA Sri Lanka in 2023. These sessions aimed to enhance the
knowledge and skills of members in various areas of accounting, auditing and financial reporting.

Event Description Purpose
Virtual Webinar on ‘Winning Profiles’ by Mr. Terry O’Reilly To provide insights into effective communication and personal
branding strategies.
Physical Session on Non-Compliances with Sri Lanka Accounting To discuss and address identified non-compliances with
and Auditing Standards accounting and auditing standards.
Virtual Workshop on Practical Implications on SLFRS 15 – Revenue To understand the practical implications of SLFRS 15 in various
from Contracts with Customers industries.
Virtual ‘Webinar on Practical Implications on LKAS 41 – Agriculture’ To explore practical applications of LKAS 41 in agricultural
accounting.
Virtual Session on SLFRS 13 – ‘Fair Value Measurement’ To deepen understanding of fair value measurement principles
under SLFRS 13.
Virtual Awareness Session on Recent Changes in LKAS 8 and To update participants on recent changes in LKAS 8 and LKAS
LKAS 12 12.
Virtual Webinar on Accounting and Auditing Considerations To discuss accounting and auditing considerations related to
Applicable for Going Concern Assessments going concern assessments.
Virtual Sessions on Accounting Standards Related to Consolidated To provide in-depth understanding of accounting standards for
Financial Statements (Part 1 & 2) consolidated financial statements.
Practical Session on Derivatives & Hedge Accounting To enhance knowledge and skills in derivatives and hedge
accounting practices.
Virtual Webinar Series on Enhancing Auditing Skills of Small and To improve auditing skills and techniques for small and medium-
Medium-sized Practitioners sized practitioners.
Interactive Session on Forensic Accounting To explore various dimensions and techniques of forensic
accounting.
Accounting Standards 12-days Virtual Seminar Series to Update To provide comprehensive updates on accounting standards
Technical Skills on Financial Reporting and financial reporting practices.
Physical Session on Application & Disclosure of IFRS Sustainability To understand the application and disclosure requirements of
Accounting Standards S1 & S2 in Financial Reporting IFRS sustainability standards in financial reporting.
Virtual Webinar on Share based Payments - SLFRS 2 To gain insights into the application of SLFRS 2 regarding share-
based payments.

64 CA Sri Lanka Integrated Annual Report 2023