CA Sri Lanka ties up with CIPFA to support public sector accountants
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Chartered Institute of Public Finance and Accountancy (CIPFA)have agreed to work together to transform the support available for Sri Lankan public finance professionals.
A memorandum of understanding was signed recently. The memorandum agrees a partnership to develop joint qualification and membership arrangements for public financial management professionals in Sri Lanka.
The partnership aims to serve the needs of Public Financial Management professionals and others working in Sri Lanka’s public sector, and to collaborate to strengthen the relationship between the two bodies.
CA Sri Lanka President, Mr. Sujeewa Mudalige commenting on this landmark tie up with CIPFA said, “We welcome this agreement for the benefits that it will bring our members and to the finance professionals in the public sector and we look forward to developing stronger ties with CIPFA in the future.”
He also noted that CIPFA’s expertise and international track record in this area will put Sri Lanka at the forefront of public financial management best practice.
CIPFA President, Mr.Chris Bilsland said, “This memorandum of understanding is a brilliant example of the international desire for effective public financial management and recognition of the benefits that it can bring. CIPFA is delighted to be helping Sri Lankan professionals with their capacity building efforts and we feel that this developing relationship will be mutually beneficial.”
As a leading professional organisation in the country, CA Sri Lanka enjoys a membership of over 4300 highly qualified chartered accountants who serve both in Sri Lanka and abroad. Late last year, the Institute also signed a MoU with the Institute of Chartered Accountants of England and Wales (ICAEW), which established closer working relations between the two bodies and enabled qualified members of either Institute to join the other and to obtain non-auditing practising rights.
Back
Seven illustrious chartered accountants inducted to CA Sri Lanka Hall of Fame
The Institute of Chartered Accountants of Sri Lanka paid a glowing tribute to seven eminent Chartered Accountants recently by inducting them to the CA Sri Lanka Hall of Fame, which was launched in the presence of top accounting professionals including Governor Central Bank Mr. Ajith Nivard Cabraal.
The Institute honored Mr. Samy M Pasupathy, Mr. Cedric Trevor de Silva, Mr. Spencer Esmond Satarasinghe, Mr. Leslie Alan Winston de Alwis, Mr. Gamini Christopher Bernard Wijeyesinghe, Mr. James Selvanathan Mather and Mr. Charitha Prasanna de Silva at an event held at the Institute’s Auditorium to recognize their outstanding and yeomen contribution to the profession and the public in an illustrious career spanning decades in both the private and public sectors in the country.
Speaking at the event, CA Sri Lanka President Mr. Sujeewa Mudalige emphasized that 19 presidents and several councils later, CA Sri Lanka is today a strong responsible professional institute.
“Public expectation of the role of a professional body is changing and it’s important we demonstrate accordingly. Our reputation for accountability, objectivity and integrity is what differentiate us from others,” he noted.
Mr. Mudalige stressed that chartered accountants today play a leading role in the company boardroom; two years ago nearly 60 percent of the top 60 companies listed on Colombo Stock Exchange had at least one member of the Institute often as Chairmen, non-Executive Director or Chief Executive Officer. “This number has risen to almost 70 percent today, an increase of ten percent in just two years,” he noted.
Mr. Mudalige said that it was by establishing strong working partnerships that the institute will ensure all its members go from strength to strength and remain business professionals whom others admire.
“Today we acknowledge and pay homage to some of our founder members who guided our institute to what it is today. Both personally and on behalf of all our members, I want to thank these founder members, who laid a firm footing for our institute,” he added.
Chief Guest at the event, Central bank Governor Cabraal paid a glowing tribute to all seven recipients who were inducted to the Hall of Fame and felicitated for their achievements.
“These are icons of our institute, people we have followed, admired and people we can look upto. I must congratulate them for their outstanding contribution and congratulate the Institute for having the foresight and wisdom to have an award ceremony of this nature and for recognizing these individuals,” he said.
“We are fortunate to have such a wonderful set of people in our institute, they have given us the strength to follow , and on a day like today as we honour them, we should continue to follow in their footsteps and their lead while emulating the great policies they have set for us,” Mr. Cabraal added.
Profiles of Members Inducted to the Hall of Fame
Back
|
ICAEW’s Executive Director meets Central Bank Governor and business leaders
Executive Director of the Institute of Chartered Accountants of England and Wales (ICAEW) Mr Robin Fieth recently met a cross section of business leaders on the sidelines of the recently concluded 32nd National Conference of the Institute of Chartered Accountants of Sri Lanka. (CA Sri Lanka)
Mr Fieth was invited to be a key note speaker for one of the Conference's main sessions at the annual conference as a part of the excellent and long-standing relationship CA Sri Lanka has with ICAEW.
His address was very well received by the audience, largely CFOs, at a time when they were concerned about the global financial crisis and the pressures it has placed on them. He was able to highlight the technical and thought leadership support and resources that ICAEW can offer them and commented "The Conference gave ICAEW an excellent opportunity to help Sri Lankan CFOs and aspiring CFOs during this difficult time”.
Mr Fieth’s address was followed by an open session with the audience and he joined an expert panel comprising of Mr Suresh Shah - session chairman and CEO, Ceylon Brewery plc; R Renganathan, MD and CEO, Ceylinco Life plc; Ms Gayathri Manatunga, Partner - Assurance, Ernst & Young and Mr Samantha S Ranatunga, MD and CEO, CIC Group.
During his brief visit in Sri Lanka, Mr. Fieth also paid a courtesy visit to the Governor of Central Bank Mr Ajith Nivard Cabraal along with Secretary/ CEO of CA Sri Lanka, Mr Aruna Alwis, contact member in Sri Lanka for ICAEW, Mr Jerome Chanmugam, Mr Tony Hegarty and Ms Jennifer Thomson from the World Bank.
During his meeting with business leaders Mr Fieth had the opportunity to understand and discussed in detail the current market trends and developments both locally and globally.
Mr Chanmugam and the Member Relations division of CA Sri Lanka facilitated and coordinated Mr Fieth’s visit and the line-up of meetings.
Picture from L to R :
Mr Tony Hegarty (Chief Financial Management Officer, World Bank) ; Mr Jerome Chanmugam (ICAEW Contact Member); Ms Jennifer Thomson (Regional Manager, Financial management , South Asia, World Bank): Ajith Nivard Cabral (Governor, Central Bank); Robin Fieth (Executive Director, Finance & Operations, ICAEW) and Aruna Alwis (Secretary/ CEO, CA Sri Lanka)
Back
Overwhelming registrations for Sri Lanka’s most celebrated Annual Report Awards competition
Overwhelming registrations for Sri Lanka’s most celebrated Annual Report Awards competition
28th November 2011: The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has received overwhelming registrations for the country’s most celebrated Annual Report Awards competition which promotes transparency in financial reporting while enhancing reporting standards in line with best global practices.
Scheduled for the 9th of December at the Waters Edge, Battaramulla, the 47th Annual Report Awards recognises excellence in annual financial reporting while encouraging effective communication to stakeholders through the publication of informative annual reports, promoting effective presentation of financial and non-financial information. Among the other objectives of the awards competition is the encouragement of compliance with legislative requirements and generally accepted accounting practices.
CA Sri Lanka President, Mr. Sujeewa Mudalige noted that an essential ingredient for a healthy financial system and a robust capital market is good corporate reporting which is accurate, timely and comprehensive corporate disclosure, which not only helps to cultivate the confidence of its stakeholders and investors, but also contributes to the building up of the company's good public image and reputation.
“No one can ignore the importance of quality financial reporting, because people make decisions based on financial information and therefore the Annual Report Awards is not only a competition but a platform which encourages transparency, accuracy and best practices,” he said.
Chairman of the Annual Report Awards Committee, Mr. Lasantha Wickremasinghe emphasized that this competition helps improve transparency in reporting and also enhances reporting standards in line with the best global practices.
“CA Sri Lanka endeavors to upgrade the competition every year by regularly updating the marking schemes to be on par with the developments in the global business sector and as the sole authority in promulgating accounting standards, we consider it our responsibility to ensure that companies in Sri Lanka adhere to such standards and thereby help the stability of the national economy,” he said.
Following a meticulous selection process consisting of a technical marking process, industrial marking and the final marking by a specialized panel of judges, winners will be selected as per the score they have received and the final decision will be announced at a gala ceremony on 9th December.
This year’s competition will see awards being presented under 25 special categories with a total of 80 winners.
The winners will be selected on their ability to communicate the objectives of the competition clearly to an intended audience.
Back
|
