Ravi K calls on accountants to stand up for professional ethics
Thursday, 12 February 2015 02:33
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By Channa Fernandopulle
Minister of Finance Ravi Karunanayake urged accounting professionals to stand up for their professional ethics and refrain from indulging the corrupt practices of politicians when discharging their duties. Karunanayake was speaking at the launch of the Chartered Public Finance Accountant (CFPA) qualification of the Institute of Chartered Accountants (CA Sri Lanka), in partnership with Chartered Institute of Public Finance and Accountancy (CIPFA) London.
He asserted last evening that alleged financial misconduct carried out under the previous regime would not have been possible without the acquiescence of Sri Lankan professionals.
“Speaking as an accountant, I would like to ask, have we as accountants done our share as professionals? Looking back at the information we have been able to gather in the last 30 days, we are astonished at the lack of professionalism that has existed previously. In matter of fact I don’t think that anything to this extent has existed before.”
Ravi...
Pointing out serious irregularities at his own Ministry, Karunanayake noted that files were missing from Ministry premises, leading to delays in ascertaining facts, while public debt has been found to be 45-50% higher than anticipated.
“Good governance does not mean that we simply forget all of this and move on as if nothing has happened. Being auditors, if you look to your conscience and ask if have you done enough to ensure that those corrupt politicians do not get their way, I’m sure you’d be ashamed. Where is the civic responsibility that you ought to have discharged?
“I am happy that today I am now at the helm of the Finance Ministry because now I can speak to you in a friendly manner and say that we all failed miserably. I say this not with relish but with sadness. It is high time that we stand up for professional ethics. We have a new Government now and you as professionals don’t need to go cringing and crawling behind any politician in future,” Karunanayake asserted.
Noting that it was a UNP-led Government that had first led the charge on public finance reform during the period between 2001 and 2003 – an initiative which was lost upon the subsequent Government taking power – Karunanayake stated that such reform would be a top priority for his Government going forward.
In that context, he welcomed the launch of a professional qualification for public finance management as a timely step and congratulated CA Sri Lanka for their efforts to improve standards in the field of public accounting and finance.
“Your service in this regard must be recorded in glowing terms as a national service. This qualification is an encouraging sign for management of public finances. Countries around the world have been attempting to reform public financial management and Sri Lanka cannot be left behind,” he stated.
