SEC chief urges importance of professional ethics
SEC Chairman Viraj Dayaratne speaking at the event.
The importance of professional ethics in Sri Lanka was stressed this week by Chairman of the Securities and Exchange Commission of Sri Lanka Viraj Dayaratne.
Speaking as the Chief Guest at the 5th Graduation Awarding Ceremony of the Institute of Certified Management Accountants (ICMA) Australia’s Sri Lankan Branch held on Wednesday at the Galadari Hotel, he said professional ethics can be identified, as “principles that govern the behaviour of a person or group in a business environment”.
The event awarded the membership of Certified Management Accountant to over 250 graduates over four years, from 2019 to 2022, due to previous graduations being postponed due to the COVID-19 pandemic.
While ethics often vary between professions, he noted that the universal ethics of ‘honesty, transparency, loyalty, trustworthiness, respect for others, adherence to the law’, among others, are common to all.
He said in his experience as SEC Chairman, ethics ensures the orderly and transparent conduct of the stock market and the transfer of capital, which is why professional ethics are prioritised by the SEC.
He asked the graduates to fulfill the duties and responsibilities expected of them with their new qualification and membership, advising them to focus on the passion of their profession if they want to succeed in their professional lives.
Section of the audience..
Prof. Janek Ratnatunga, CEO of ICMA (Australia), Chair of the Event and formerly Dean and Head of the School of Commerce at the University of South Australia said Sri Lanka has a wealth of resources, including fresh water, open coastlines, rich soil and gems and rich biodiversity, and “focusing on what good we have can aid us in resolving the economic problems we face”.
He explained that part of the reason why there is a severe economic crisis is the attitude “we, and other post-colonial countries, have toward economics and growth, where we take loans from institutions like the IMF and the World Bank”.
This extends the influence of Sri Lanka’s post-colonial rulers, only to find the capital from those loans wasted by selfish and inefficient politicians.
“If we want to rise from our economic difficulties, we must focus on the good we have and independently strive to be our best in the future,” he said.
He concluded his speech by explaining that the attitude towards life and the profession can both greatly benefit or severely harm us, “and it is our responsibility to cultivate a positive attitude to succeed…create your own happiness and live your own life”.
Ashan Nissaknka, President of the ICMA Sri Lanka Region introduced the Chief Guest at the event. Graduates of all four years were awarded their CMA membership by Prof. Ratnatunga.
The Institute of Certified Management Accountants was incorporated in 1996, headquartered in Melbourne, Australia and has many branches across the world. Every year more than 200 qualified professionals with degrees in business, finance and accountancy join the ICMA programme in
Sri Lanka.
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