CA Sri Lanka holds inaugural research conference, debuts journal

• Put spotlight on corporate governance, sustainability assurance and forensic accounting  

 The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) held its first-ever research conference on 20 December, where corporate governance, sustainability assurance and forensic accounting which are deemed extremely relevant and important to the accounting profession in the current context was discussed and deliberated at length. 

The research conference was held under the patronage of Professor Sampath Amaratunge, Vice Chancellor of the University of Sri Jayawardenepura, who was the keynote speaker, while Professor Hitoshi Takehara, the Associate Dean of the Waseda Business School of the Waseda University – Tokyo, Japan was the guest of honour. 

The one day conference also saw the launch of the institute’s inaugural journal of applied research, where six research papers penned by academics attached to leading universities in Sri Lanka and overseas gave their insights on corporate governance, sustainability assurance and forensic accounting. 

Speaking at the conference, CA Sri Lanka President Lasantha Wickremasinghe said that the accounting profession has faced significant change over the past 10 years, and the most major changes that the accounting profession witnessed was the technological revolution, globalisation of reporting and disclosure standards, and the complex regulatory compliance reporting requirements, all which has contributed to far more complexities in the way accounting professionals have to do business. 

“In the midst of increasing challenges and complexities for our profession and professionals, we believe it is increasingly important for professional bodies such as CA Sri Lanka to be at the helm in not only educating our stakeholders on these changes, but also equipping all stakeholders with the necessary knowledge and other requirements to ensure our members can continue to not only be in demand globally, but will also have the necessary knowledge and competence so they can carry out their professional duties as per the latest local and international trends, and regulations,” he said. 

Wickremasinghe said that since he assumed duties as President of the institute in January 2016, he has paid special attention to the importance of research, so that the accounting profession and its members can be aware of the constant changes, which will help them remain relevant both locally and globally no matter what challenges they face.  

He said that the research conference and the journal was part of a larger programme mooted by the institute. “We have brought together universities, as well as academics and professionals as part of a research support facility where topics in relation to accounting and auditing will be focused upon at length,” he added. 

During the conference Nilupul Weerasinghe, Harshani Senanayake and Sakura De Silva attached to the School of Accounting and Business of the Institute of Chartered Accountants of Sri Lanka made presentations on corporate governance, while Dr. Sunil Dahanayake of the Department of Accounting of the United Arab Emirates University and Professor Samanthi Senaratne of the Department of Accounting of the University of Sri Jayewardenepura made presentations on sustainability assurance (plantation sector). 

The third session of the conference which focused on forensic accounting education was presented by LakmaliPriyangika, Director of Beyond Business Ltd. and Seshani Gunathilake, from the Department of Accounting of the University of Sri Jayewardenepura.