Alliance Finance Chairman Sunil Karunanayake receives Professional Excellence Award 2015

Sunil Karunanayake

Veteran business leader Sunil Karunanayake was recognised for his outstanding leadership capabilities last week with the Institute of Certified Management Accountants of Sri Lanka (CMA) having awarded him the Professional Excellence Award 2015.

Karunanayake, who is currently the Chairman of Alliance Finance Company PLC (AFC), received this prestigious award at the Global Management Accounting Summit 2015 on 27 July.

Presenting him the award was President Maithripala Sirisena and International Federation of Accountants (IFAC) President Olivia Kirtley.

Karunanayake, who took up the role as AFC Chairman on May 2013, joined the company’s board in January 2012 as an Independent Non-Executive Director. He is a Fellow Member of the Institute of Chartered Accountants (FCA), Chartered Institute of Management Accountants (FCMA) and also holds an MBA from the Postgraduate Institute of Management at the University of Sri Jayewardenepura. 

A product of Thurstan College Colombo, Karunanayake soon after his Advanced Level opted to qualify as a Chartered Accountant and continued to reach greater heights ever since.

While pursuing his professional qualification, Karunanayake received his initial training at Tudor V. Perera & Company, a leading audit firm at that time.

He received his first employment opportunity at Hayleys Colombo from where he moved on to Brooke Ceylon Ltd. Karunanayake played a key role in the Lipton and Brook Bond merge, where he contributed to a smooth transition.

Commenting on his work experience, Karunanayake said: “During my stint in these two top companies I was able to gain a wealth of experience. Not only in the local landscape but abroad as well, as I was privileged to go for training in India, Pakistan and the United Kingdom. In addition to that, having worked under veterans and top business leaders who were well known personalities, I was able to add value to experience which helped boost my career.”  

In addition to his keenness in academics, Karunanayake is equally interested in sports activities. While he was nominated as the Treasurer of the Ceylonese Rugby and Football Club, he went on to be the Treasurer of the Sri Lanka Rugby and Football Union as well.

In UK he had the privilege to follow a two months course at the training centre ‘Four Acres’, Wimbledon.

He counts over 30 years of experience in leading multinational companies. Karunanayake also serves as a Non-Executive Director on the Boards of Ceylon Grain Elevators PLC, and Three Acre Farms PLC. He also functions as the Chairman of the Audit Committee in the said listed companies.