CA Sri Lanka President Lasantha Wickremasinghe hands over a copy of the CA Journal on Applied Research to Waseda University – Tokyo, Japan Waseda Business School Associate Dean Prof. Hitoshi Takehara in the presence of CA Sri Lanka Vice President Jagath Perera, University of Sri Jayewardenepura Vice Chancellor Prof. Sampath Amaratunge and Research Committee Chairman Nishan Fernando

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) held its first-ever research conference recently, where corporate governance, sustainability assurance and forensic accounting, which are deemed extremely relevant and important to the accounting profession in the current context, were discussed and deliberated at length.

The research conference was held under the patronage of University of Sri Jayewardenepura Vice Chancellor Prof. Sampath Amaratunge, who was the keynote speaker, while Waseda University – Tokyo, Japan Waseda Business School Associate Dean Prof. Hitoshi Takehara was the guest of honour.

The one-day conference also saw the launch of the institute’s inaugural journal of applied research, where six research papers penned by academics attached to leading universities in Sri Lanka and overseas gave their insights on corporate governance, sustainability assurance and forensic accounting.

Speaking at the conference, CA Sri Lanka President Lasantha Wickremasinghe said that the accounting profession has faced significant change over the past 10 years and the most major changes that the accounting profession witnessed were the technological revolution, globalisation of reporting and disclosure standards and complex regulatory compliance reporting requirements, all of which have contributed to far more complexities in the way the accounting professionals have to do business.

“In the midst of increasing challenges and complexities for our profession and professionals, we believe it is increasingly important for professional bodies such as CA Sri Lanka to be at the helm in not only educating our stakeholders on these changes but also equipping all stakeholders with the necessary knowledge and other requirements to ensure our members can continue to not only be in demand globally but will also have the necessary knowledge and competence so they can carry out their professional duties as per the latest local and international trends and regulations,” he said.

Wickremasinghe said that since he assumed duties as President of the institute in January 2016, he has paid special attention to the importance of research, so that the accounting profession and its members can be aware of the constant changes, which will help them remain relevant both locally and globally no matter what challenges they face.

He said that the research conference and journal were part of a larger programme mooted by the institute. 

“We have brought together universities, as well as academics and professionals as part of a research support facility, where topics in relation to accounting and auditing will be focused upon at length,” he added.

During the conference, Nilupul Weerasinghe, Harshani Senanayake and Sakura De Silva, who are attached to the School of Accounting and Business of CA Sri Lanka, made presentations on corporate governance, while Dr. Sunil Dahanayake of the United Arab Emirates University Accounting Department and Prof. Samanthi Senaratnemade of the University of Sri Jayewardenepura Accounting Department made presentations on sustainability assurance (plantation sector).

The third session of the conference, which focused on forensic accounting education, was presented by Beyond Business (Pvt.) Ltd Director Lakmali Priyangika and Seshani Gunathilake of the University of Sri Jayewardenepura Accounting Department.