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Head of the world accounting body lauds CA Sri Lanka for its excellent work in advancing the profession

President of the International Federation of Accountants (IFAC), Dr. In-Ki Joo lauded the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) for the ‘excellent work’ it has done in helping advance the profession locally as well as overseas.

During a visit to Colombo last week, Dr. Joo, who heads the global organisation of the accountancy profession headquartered in New York, USA also commended members of CA Sri Lanka for serving the country’s economy, in the public and private sectors as well as in academia.

CA Sri Lanka President Mr. Manil Jayesinghe welcoming President of the International Federation of Accountants (IFAC), Dr. In-Ki Joo at the Institute.

“I want to acknowledge the excellent work of CA Sri Lanka in advancing the profession, here and abroad. For 61 years, CA Sri Lanka and its members have served this country’s economy, in the public and private sectors, and in academia, and CA Sri Lanka has applied its experience to be an international leader,” he said while delivering a speech at the induction ceremony of the 25th President of CA Sri Lanka which was attended by accounting professionals including business leaders.

President of the International Federation of Accountants (IFAC), Dr. In-Ki Joo delivering a speech.

Elaborating further, Dr. Joo also commended CA Sri Lanka for its numerous initiatives in relation to ensuring quality education and gender equality in Sri Lanka, which, according to him were in line with the Sustainable Development Goals (SDGs) of the United Nations.

Accordingly, Dr. Joo highlighted that the annual scholarship program and the new Curriculum 2020 which focuses on harnessing business intelligence, IT and leadership skills, are two important initiatives by CA Sri Lanka in pursuing ‘Quality Education, which falls under number 4 of the SDGs.

Dr. Joo underscored that quality education is mandatory if the accounting profession hopes to boost its profession’s talent pool, empower professional accountants to find innovative solutions to social and economic problems, and reduce inequality in the job opportunities and financial resources available to men and women alike. “Professional accountancy organisations have a large role to play in meeting this Sustainable Development Goals (SDGs) —particularly as technology transforms the profession,” he said.

He also praised the new partnership between CA Sri Lanka and Institute of Chartered Accountants in England and Wales (ICAEW) which allows students to obtain dual membership simultaneously at the successful completion of the professional accounting program. “You are thinking about the profession, and advancing Sri Lankan professional accountants, well beyond the borders of your country,” he said.

Dr. Joo highlighted that professional accountants are poised to drive economic growth in the public interest amid dramatic technological advances and the climate emergency. “Professional accountants should keep leading. We should speak up and speak out,” he said.

Dr. Joo was in the country on a two-day official visit following an invitation extended to him by CA Sri Lanka. During his visit, he was the Chef Guest at the induction ceremony of Mr. Manil Jayesinghe as the 25th President of CA Sri Lanka and also met with Mr. Bandula Gunawardana, Minister of Information & Communication Technology, Higher Education, Technology & Innovation.