Institute of Chartered Accountants of Sri Lanka's qualification to be recognised globally
The Chartered Association of Sri Lanka (CA Sri Lanka) last year assigned a government owned institution in the UK to evaluate the bench mark qualification of CA Sri Lanka to be in line with UK educational standards. On that request, CA Sri Lanka and ACA have been equated to a Masters degree qualification of the UK, said Jagath Perera, CA Sri Lanka President at a media briefing held at the Galle Face Hotel Colombo this week in connection with the 54th Annual Report Competition to be held in December this year.
He said the aim of CA Sri Lanka is to provide a global passport to its members to ensure that its qualification is recognised globally to enable its members to travel globally.
Mr. Perera said that CA Sri Lanka’s next step is to gain recognition with Australian qualifications so as to make it a global presence and was working on it. Since 1964 CA Sri Lanka has been conducting the Annual Report Awards Competition of corporate bodies to promote high quality annual reports.
This year’s theme is “Epitome of Brilliance”. Chairman of the Annual Reports Awards Committee Heshana Kuruppu said the event is one of the most awaited events in the corporate world. The annual reports are cohesive, clear and customised reports that help to develop the capital markets to ensure the availability of information in a clear and in a concise manner vital for all stakeholders and potential investors.
Chairman of the Colombo Stock Exchange (CSE) Ray Abeywardena said that corporate reports disclose quality financial information that stakeholders demand and top calibre governance disclosures that communicate information on risks and opportunities related to environment, social and governance.
He said the CSE reiterates its commitment towards quality reporting practices among Sri Lankan entities for the benefit of investors.
The CSE makes a constant effort to create an efficient regulatory regime where listed companies have an opportunity to obtain information on Sri Lankan companies. Meanwhile the competition will reward organisations that produce the most cohesive, clear and customized reports. Any organization in Sri Lanka that produces annual reports can apply for the competition. Organisations ranging from small-time community groups to large scale conglomerates representing 25 sectors including Banking Institutions, State Banks, Diversified Holdings, Finance Companies Leasing Companies and other Financial Institutions, Food and Beverage Companies, Health Care Institutions, Trading Companies, Hotel Companies, Insurance companies, Land and Property Companies, Manufacturing Companies, Motor Companies, Service Organisations, Telecommunication Companies, Unit Trusts, Media and Entertainment Companies, State Corporations and Statutory Boards, Plantation Companies, Construction Companies, Power and Energy Companies, Non –Governmental Organisations and Small and Medium Sized Entities can apply.