Three CA Sri Lanka members appointed to IFAC committees

Three senior members of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will serve in several important committees of the world apex body of the accounting profession, the International Federation of Accountants (IFAC).

Two past presidents of the Institute, Sujeewa Mudalige and Reyaz Mihular and the incumbent Vice President of CA Sri Lanka Arjuna Herath will serve as members in three important IFAC committees. These appointments were approved by the IFAC board recently.

The immediate Past President of CA Sri Lanka, Mudalige, will serve on the International Accounting Education Standards Board (IAESB) from 1 January 2013 to 31 December 2015, while Mihular will serve as a member of the International Ethics Standards Board for Accountants (IESBA) from 1 January 2013 to 31 December 2014.

The incumbent Vice President of CA Sri Lanka, Herath, will serve on the Professional Accountancy Organisation (PAO) Development Committee from 1 January 2013 to 31 December 2015.

CA Sri Lanka President, Sujeewa Rajapakse while congratulating the members on their appointment to the IFAC committees said, “This is a great achievement in the history of our 53-year-old institute and these appointments bestow great honour to our institute.”

“As an organisation that consistently endeavours to stand shoulder-to-shoulder with the world’s leading accountancy bodies, the appointment of our members to serve on the committees of the global apex accountancy body is testament to our proud standing at a global level,” he noted.

CA Sri Lanka Chief Executive Officer Aruna Alwis said, “Of our over 4,200 members, over 50 per cent of our members serve in very senior positions and most of them are members in the Sri Lankan corporate boardroom, often in the capacity of chairman, CEO, CFO, director etc.”

“Our positioning as a highly respected professional organisation has only been growing each year. Whilst our members serve in important positions in the local regulatory agencies and in committees and policy making bodies in Sri Lanka, our members are also recognised internationally where they serve numerous multinational corporations, government bodies and regulatory agencies overseas and therefore the appointment of three of our members to serve in the committees of the apex accountancy body in the world is a clear testimony to our international standing,” Alwis added.

Mudalige currently serves as the Deputy President of the Confederation of Asian and Pacific Accountants (CAPA) and is a partner of PricewaterhouseCoopers – Sri Lanka. Mihular is the Managing Partner of KPMG, while Herath is a member of the Board of the South Asian Federation of Accountants (SAFA) and is a partner of Ernst & Young.