Professionals to map out strategy to stabilise businesses
Sri Lanka is known for its fair share of man–made and natural disasters but COVID-19 is perhaps the biggest challenge that the country is ever facing. Therefore it is imperative that professional bodies such as CA Sri Lanka come forward to help navigate the professional community including chartered accountants through such unchartered territories, said the President of the Chartered Accountants Association (CA) of Sri Lanka, Manil Jayasinghe at a press conference held at the CA auditorium in Colombo this week.
He spoke on CA’s 41st National Conference scheduled to be held on December 2-4 under the theme “Navigating through shattered norms embracing Abnormal”. The National Conference attracts over 2000 participants every year.
He said the road to recovery both at global and local level is likely to be long and arduous but was confident that Sri Lanka with the help of its dynamic business and professional community will support to overcome this challenge as in the past. “These abnormal times are a reminder to understand the importance of thinking outside the box and moving away from our comfort zones. Abnormal is going to be our new normal and we need to adapt to change fast and remain innovative and creative while utilising technology to the maximum advantage.” Referring to COVID-19, he said the local businesses have been impacted due to the global shutdown that have spiralled beyond the control of any one. Tourism and hotel industry sectors have been badly impacted as a result.
Chairman of the Conference Committee Tishan Subasinghe said that the National Conference Committee was determined to go ahead with this year’s conference despite the challenging situation surrounding everyone. “I believe this conference will be an important platform to engage and assess the issues facing us all and also to explore solutions from the accounting profession.”
He said health guidelines will be given attention at the conference venue where arrangements will be in line with the Health Ministry’s approved regulations. The safety of the delegates attending the venue will be their top priority.
Chairperson of the National Conference Technical Committee Ms. Anoji De Silva said despite the gloom since COVID-19, the pandemic has given many an opportunity to redefine and come up with a new corporate culture that focuses on stakeholder capital and not just shareholder profit. “We must use the pandemic as an opportunity to redefine our values that will ultimately have a long term sustainable benefit to all stakeholders.”
A high profile line-up of local and foreign speakers and panellists will steer the technical sessions by sharing their insights and expertise on how to rethink and rebuild businesses in times where abnormal has become the order of the day, she added.