February 16, 2023: The primary group of Sri Lankan public sector accounting and auditing professionals participated in Sri Lanka Public Sector Accounting Requirements 11-20 by a coaching by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and its public sector wing, the Affiliation of Public Finance Accountants of Sri Lanka (APFASL).
The U.S. Authorities, by its improvement arm – the U.S. Company for Worldwide Improvement (USAID) – supported the coaching beneath its Partnership for Accelerating Ends in Commerce, Nationwide Expenditure, and Income (PARTNER) exercise.
The primary 50 of a complete 600 public sector accountants and auditors realized in regards to the requirements, which offer a framework for getting ready and presenting monetary statements beneath the accrual accounting system consistent with worldwide finest practices. The partnership of USAID, CA Sri Lanka, and the APFASL may even prepare 1,200 public sector staff on the efficient software of IT techniques for knowledge administration, evaluation, and strategic decision-making.
“As one of many nation’s longstanding improvement companions, we’re dedicated to assist strengthen and streamline Sri Lanka’s public monetary administration practices and thereby its path to restoration,” USAID Sri Lanka and Maldives Mission Director Gabriel Grau stated on the inaugural coaching. “Additional strengthening expertise and competencies of key accounting and auditing professionals may help contribute to this long-term purpose by improved monetary evaluation, planning, and administration”.
In his opening remarks, Mr. V. Kanagasabapathy, President of APFASL, stated: “Robust public monetary administration is crucial to attain the long-term objectives of any nation, due to this fact, in our standing as the general public sector wing of CA Sri Lanka, APFASL has taken immense pleasure in being a catalyst in serving to strengthen the general public monetary administration practices in Sri Lanka. We’re delighted that the U.S. Authorities has acknowledged our essential work and is supporting our efforts to assist public sector accounting and auditing professionals carry out higher.”
Mr. Heshana Kuruppu, CA Sri Lanka Vice President stated, “The general public sector in Sri Lanka is taken into account to be massive compared to the dimensions of our financial system, using roughly 1.5 million individuals. This sector additionally holds the important thing to serving to change the lives of twenty-two million individuals. Glorious public monetary administration will play a important position in reaching this essential goal and enhance productiveness of the sector. Because the nationwide physique of accountants, CA Sri Lanka along with APFASL are dedicated to serving to the general public sector contribute successfully to the financial system. The launch of this landmark program with USAID is a part of our persevering with efforts to attain this important purpose.”
USAID’s PARTNER helps facilitate commerce and strengthen authorities effectivity to gasoline broad-based financial progress in assist of the Authorities of Sri Lanka’s imaginative and prescient for financial improvement and improved worldwide commerce. This challenge is one part of the longstanding partnership between the American and Sri Lankan individuals to advertise a wholesome, educated, and employed inhabitants. To search out out extra about USAID’s work, please see usaid.gov/Sri-Lanka.