CPA Australia Sri Lanka Branch holds Thought Leadership Forum 2025

From left: Litro Gas Lanka Chairman Channa Gunawardana, CA Sri Lanka Governing Council Member Chamila Cooray, Colombo Stock Exchange CEO Rajeeva Bandaranaike, Nithya Partners Precedent Partner Naomal Goonewardane, City University of Hong Kong College of Business Professor of Practice (Accounting) and Chow Yei Ching School of Graduate Studies Deputy Dean Professor Ho Yew Kee, and Moderator Nihal Hettiarachchi and Company Managing Partner, RNH Ventures Chairman Dinuk Hettiarachchi

• Highlights importance of strengthening good governance for a better tomorrow

The CPA Australia Sri Lanka Branch recently hosted its highly anticipated Thought Leadership Forum 2025 under the theme “Good Governance – Strengthening for a Better Tomorrow.” 

This event was organised in partnership with Colombo Stock Exchange (CSE)The event gathered corporate leaders, Government officials, and board members of State-owned enterprises (SOEs) to discuss the crucial role of governance in fostering accountability, transparency, and national progress.

The forum commenced with an engaging keynote by City University of Hong Kong College of Business Professor of Practice (Accounting) and Chow Yei Ching School of Graduate Studies Deputy Dean Professor Ho Yew Kee, who highlighted the development and implementation of corporate governance codes in different global markets. He emphasised the need for countries like Sri Lanka to adopt best practices in transparency, disclosure, and accountability, aligning with global governance standards to attract foreign investments and strengthen corporate ethics. Professor Ho also shared insights from the Singapore Directorship Report, underscoring the significance of board structure, composition, gender diversity, and accountability in corporate leadership.

Nithya Partners Precedent Partner Naomal Goonewardena provided a deep dive into Sri Lanka’s Companies Act and corporate governance regulations. He stressed the fiduciary duties of directors, highlighting key provisions such as acting in good faith, ensuring fairness among shareholders, and avoiding conflicts of interest. His presentation also addressed the importance of risk management, independent decision-making, and internal controls in preventing corporate mismanagement.

The role of good governance in capital market stability was a key topic in the presentation by Colombo Stock Exchange (CSE) CEO Rajeeva Bandaranayake. He emphasised how better governance reduces the cost of capital, increases investor confidence, and enhances corporate valuations. The presentation explored global examples where stock market listings have improved governance standards for state-owned enterprises, drawing parallels with Singapore and Vietnam.

Another focal point was the role of State-owned enterprises (SOEs) in national economic development. Discussions centred on the need for strategic direction, operational efficiency, and ethics in SOE management. Panellists stressed the importance of aligning SOE policies with national priorities while maintaining independence, transparency, and accountability. The forum also examined the potential introduction of a dedicated SOE listing platform, mirroring models like Singapore’s Temasek and Malaysia’s Khazanah.

The event featured an engaging panel discussion with key speakers along with CA Sri Lanka Women Empowerment and Leadership Development Committee Chairperson Chamila Cooray, and Litro Gas Lanka Chairman Channa Gunawardana, moderated by NH & Co Managing Partner and RNH Group of Companies CEO/Director Dinuk Hettiarachchi. These industry experts deliberated on governance challenges, balancing regulatory compliance with business growth, and fostering an ethical corporate culture. The panellists underscored the importance of whistle-blower protection, financial reporting integrity, and cyber security measures in today’s evolving governance landscape.

The forum concluded with a resounding call to action: governance is not just a regulatory requirement but a fundamental pillar of national progress. The discussions reinforced the idea that good governance drives investor confidence, economic growth, and institutional resilience.

Attendees left the event with valuable insights into strengthening governance frameworks, improving board accountability, and leveraging capital markets for sustainable development.

The event wrapped up with a networking session, cocktails, and live entertainment, allowing participants to continue discussions and forge new professional connections. CPA Australia Sri Lanka Branch expressed its gratitude to all speakers, panellists, and attendees for contributing to this thought-provoking dialogue on governance excellence.

­-Pix by Ruwan Walpola