Institute of Chartered Accountants of Sri Lanka in fresh initiative to uplift public sector accountants
In its efforts to uplift accountants from the public sector, the Institute of Chartered Accountants of Sri Lanka recently launched a series of initiatives with the assistance of both local and foreign resources.
The President of the Institute Mr. Sujeewa Rajapakse recently noted that there are around 1400 Accountants and about 200 Auditors in the public sector who need to improve their professional capabilities and standards to provide an efficient public service.
Among the several initiatives taken by the Institute, Mr. Rajapakse listed out was the establishment of the Public Sector Accounting Standards Committee and publishing Public Sector Accounting Standards.
“We have also established the Public Sector Accounting Faculty with members of the Institute of Public Finance and Development Accountancy which aims to enhance financial reporting practices in the public sector and signed an MOU with the Chartered Institute of Public Finance Accountancy in London to offer a joint qualification titled Chartered Public Finance Accountant which helps raise the professional status of the public sector financial management professionals in the country,” he noted.
Among the other initiatives taken was the establishment of the Association of Public Finance Accountants of Sri Lanka (APFASL), with the Institute of Public Finance and Development Accountancy, to conduct professional development courses and to initiate action to handle capacity development programmes in implementing the public sector accounting standards with the assistance of the World Bank.
“The general perception of the public is that they do not possess the required professional skills and expertise to move with the international best practices. This is why we need to step in, to enhance the financial management skills in the public sector,” Mr. Rajapakse noted.
He stressed that the public sector financial management has enormous potential for development.
Therefore he called upon financial managers of the public sector, to make use of this opportunity to enhance their professional skills and promote efficiency and effectiveness of their services, through an efficient financial management in the public sector.
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Inaugural General Assembly of the Young Chartered Accountants Forum held
The first ever general assembly of the Young Chartered Accountants Forum (YCAF) was held recently in the presence of a large number of young chartered accountants to install the new YCAF council for the period of 2012/2013.
Mr. Amila Sugathapala was inducted as the new YCAF President by outgoing YCAF President Mr. Chamara Bandara.
The chief guest at the event was the President of the Institute of Chartered Accountants of Sri Lanka, Mr. Sujeewa Rajapakse who in his speech underscored the importance of unity among the country’s young Chartered Accountants and appealed to the young professionals to work in unity.
The newly appointed YCAF President, Mr. Sugathapala in his speech noted that during the next two years, the forum will organize events for the benefit of the profession as well as society.
“These events will help us to portrait our image amongst the general public in a sound manner.
We have planned to have events with foreign participation in order to add different experience and exposure to our membership. Social responsibility activities will certainly be a part and parcel of our agenda which will be planned strategically,” he noted.
Outgoing president of YCAF Mr. Chamara Bandara in his speech spoke on the initiatives carried out during his leadership since December 2009, when YCAF was ceremoniously established.
“YCAF was not merely born in 2009; it was a creation of group of dynamic members who were passionate about working for the institute. Many rounds of discussions, brainstorming sessions were held in 2009. These members devoted their time on behalf of the institute, as it was important to ensure that the new organization which is being created would produce good leaders to the institute and to the society at large. The positive outcomes of YCAF may not be seen today, but you will witness them in future,” he said.
Mr. Tishan Subasinghe was appointed as the Vice President of YCAF.
YCAF was launched in 2009 and comprises of an impressive number of young chartered accountants below the age of 40.
Download Governing Council of Young Chartered Accountants’ Forum 2012/13
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Institute of Chartered Accountants of Sri Lanka in fresh initiative to uplift public sector accountants
In its efforts to uplift accountants from the public sector, the Institute of Chartered Accountants of Sri Lanka recently launched a series of initiatives with the assistance of both local and foreign resources.
The President of the Institute Mr. Sujeewa Rajapakse recently noted that there are around 1400 Accountants and about 200 Auditors in the public sector who need to improve their professional capabilities and standards to provide an efficient public service.
Among the several initiatives taken by the Institute, Mr. Rajapakse listed out was the establishment of the Public Sector Accounting Standards Committee and publishing Public Sector Accounting Standards.
“We have also established the Public Sector Accounting Faculty with members of the Institute of Public Finance and Development Accountancy which aims to enhance financial reporting practices in the public sector and signed an MOU with the Chartered Institute of Public Finance Accountancy in London to offer a joint qualification titled Chartered Public Finance Accountant which helps raise the professional status of the public sector financial management professionals in the country,” he noted.
Among the other initiatives taken was the establishment of the Association of Public Finance Accountants of Sri Lanka (APFASL), with the Institute of Public Finance and Development Accountancy, to conduct professional development courses and to initiate action to handle capacity development programmes in implementing the public sector accounting standards with the assistance of the World Bank.
“The general perception of the public is that they do not possess the required professional skills and expertise to move with the international best practices. This is why we need to step in, to enhance the financial management skills in the public sector,” Mr. Rajapakse noted.
He stressed that the public sector financial management has enormous potential for development.
Therefore he called upon financial managers of the public sector, to make use of this opportunity to enhance their professional skills and promote efficiency and effectiveness of their services, through an efficient financial management in the public sector.
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Third CA Sri Lanka – INSEAD Global Leadership programme inaugurates on a high note
The Business School of the Institute of Chartered Accountants of Sri Lanka together with the globally renowned INSEAD Business School commenced its third programme on 13th March 2012 at a ceremony held at Waters Edge, Battaramulla in the presence of the country’s high-end corporate glitterati and a special delegation from INSEAD.
The ceremony was a prelude to the sold out four-day programme which will commence on 14th March and conclude on 17th March, 2012.
The leadership programme will be conducted by the renowned Professor of Leadership and organizational behaviour of INSEAD, Prof. Thomas Mannarelli from the faculty of the INSEAD Business School.
Prof. Mannarelli, who holds a PhD from the Haas School of Business at the University of California, Berkley and a B.S. in Business Administration the Indiana University, is a specialist in issues related to creativity, innovation and leadership in organisations. He is backed with an impressive portfolio having provided his consulting services to top notch globally recognised organisations in the likes of Standard Chartered Bank, Glaxo-Smith Kline, Shell, Nissan, ABN-AMRO, Philip Morris, Visa, Singtel, Adidas, IBM and the Chartered Accountants of Ireland.
The course aimed at high-end professionals and business leaders will see a thought provoking outline of topics covering a wide array of areas, aimed at enhancing the leadership qualities of the country’s corporate movers and shakers.
Among the topics that would be covered in the programme are; Vision and leadership transition, creative thinking outside the box, influence without authority, leading organization change, leading high performance teams, decision making under uncertainty, negotiation dynamics and influencing for change.
CA Sri Lanka has always been in the forefront, striving to provide the country’s business community the best of services and opportunities and has continuously endeavored to partner with the world’s best organisations and the four-day programme with INSEAD is one such initiative.
As one of the world’s leading and largest graduate business schools, INSEAD is a pioneer of international business education based in Europe. With campuses in France, Asia and Abu Dhabi, and a research centre in Israel, INSEAD’s business education and research spans three continents. Its 145 renowned Faculty members from 36 countries inspire more than 1,000 participants in MBA, Executive MBA and PhD programs, and also executives exceeding 9,500 who participate in INSEAD’s executive education programmes.
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