Growing demand for accountants and auditors in the world: Dinesh Weerakkody

National Human Resource Development Council of Sri Lanka Chairman Dinesh Weerakkody recently highlighted the growing demand for both accountants and auditors across the world at the Training Partners Forum organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). 

Elaborating on his statement, Weerakkody said that as per global statistics with regard to jobs in demand, accountants and auditors were ranked at number two. “This shows the growing demand for skills in this area,” he said. 

Weerakkody noted that no matter what disruption takes place, the accountancy profession is one profession that will survive. “When businesses grow, the jobs for accountants and lawyers will increase,” he said, adding that while for innovation one doesn’t necessarily need qualifications, one cannot expect a robot to certify a financial document. “So the demand for accountants and auditors will continue,” he said. 

He also advised that it was important to attract new talent by adapting to current trends. “Some companies are attracting talent by creating a digital environment,” Weerakkody said. 

“But your own employees at the audit firms are your best ambassadors. Use them to attract new talent,” he said. 

Emphasising on the difference of mentoring and coaching, Weerakkody said that coaching is about the job, but mentoring goes a step further. “Mentoring helps groom a person, it helps a person build self-confidence, and when someone has self-confidence then you get the best out of that person,” he said. 

Elaborating on the important role played by training partners and supervising members, CA Sri Lanka President Lasantha Wickremasinghe said that training partners and supervising members play a very important and dynamic role in guiding and producing versatile chartered accountants. 

“A globally sought after chartered accountant is nurtured. While many of them have their inbuilt talent, training partners and supervising members help them harness these talents, which contributes to them becoming a unique breed of professionals, who steer businesses across all sectors both locally and overseas,” he said. 

Wickremasinghe said that good training provided by the training partners and supervising members have undoubtedly contributed towards producing exceptionally talented chartered accountants. 

“A trainee today becomes a professional tomorrow, but to be a professional, it goes beyond theory and examinations, and it is the important service that the training partners and the supervising members’ play that helps a student become a responsible professional in the future,” he added. 

Student Training and Development Committee Chairman Dulitha Perera said that in developing a professional accountant, training partners and supervising members are all important partners of CA Sri Lanka. “Our endeavour is to develop world class accountants,” he said. 

He also noted that not all students who join the institute exit as chartered accountants. “All students who join won’t become chartered accountants, which is why we have several different exit routes, because both in Sri Lanka and around the globe, there is a need for partly qualified accountants as well,” he said. 

“But be it a fully qualified or partly qualified accountant, we need to impart the right skills and knowledge to them, both technical and soft skills, so each and every one of us have an important to play in helping produce world class accountants,” Perera told the supervising members in attendance. 

The Training Partners Forum was organised by the institute as a value addition for the Training Partners in recognition of their invaluable service, while also educating them aware on the practical training requirements to help produce a versatile Chartered Accountant. 

Currently, the training partner portfolio of the institute has approximately 700 active training organisations, which train over 4500 aspiring Chartered Accountants.