CA Sri Lanka, continues to take the lead in educating member bodies in the South Asian region on the implementation of the International Financial Reporting Standards (IFRS).
In this endeavour, CA Sri Lanka recently organised an IFRS training program for members of the Association of Chartered Accountants of Nepal (ACAN), where issues pertaining to the implementation of the international standards was discussed at length. Thirty-two members from ACAN attended the training program in Colombo.
CA Sri Lanka President Jagath Perera said that as a professional body that adopted IFRS way back in 2012, CA Sri Lanka had an in depth understanding of the difficulties and confusion a professional body may have when moving forward in implementing the international standards.
“But, we have our experience and our resource persons who will guide you in this process and help you in adopting the IFRS. It is not impossible, but there are issues you will encounter as you move on and so we have identified the best resources to help you in the adoption process,” he told the ACAN members present at the training.
Perera said CA Sri Lanka has played an influential role in discharging its responsibility towards developing the accounting profession, both locally and globally.
“We are not just a member of IFAC, SAFA or CAPA, but we have made vast amounts of contributions to these organisations and to the global standards as well,” he said.
He also recalled how CA Sri Lanka had assisted both Bhutan and Maldives in helping develop their accounting profession by providing guidance and training on various areas including on accounting and auditing standards.
“Today digitization is taking over everything and this is no exception to the accounting profession. We can only meet these challenges by changing our skillsets. Changing our skillset is the game changer and CA Sri Lanka will take the lead in this over the next couple of years,” he said.
ACAN President Hari Kumar Silwal said, “We admire and thank CA Sri Lanka for this great gesture and for the support in helping us in implementing IFRS. CA Sri Lanka has become like our big brother and we have a lot to learn from them and this is an important opportunity for us,” he said.