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CA Sri Lanka Public Sector Wing kicks off 2014 with capacity building programmes in accountancy in the East

The Association of Public Finance Accountants of Sri Lanka (APFASL), the public sector wing of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), kicked off 2014 with a series of capacity building programmes targeting accounting professionals in the Eastern Province.

The training programme conducted by Mr. V Kanagasabapathy, President, APFASL and Mr. K L Perera, Secretary, APFASL, at the Sarvodaya Centre, in Batticaloa educated chief accountants, accountants, internal auditors and other accounting professionals attached to the local government bodies on the Sri Lanka Public Sector Accounting Standards and how they could prepare and present the respective financial statements of provincial councils, district secretariats, divisional secretariats, local authorities and other institutions under accrual accounting in compliance with the public sector accounting standards.

In December 2013, a similar capacity building programme was conducted in the Western Province and the recently concluded programme in the Eastern province was the second in a series of similar programmes which will be held throughout all provinces in the country.

The capacity building programme in the East was attended by high level public officials from the province including the Commissioner of Local Government of the Eastern Province, Provincial Project Director, Pura Neguma Project Director, and officials of the Provincial Councils of the Eastern Province, and Accountant & Financial Management Specialist of the Pura Neguma Project.

In late 2013, the Public Sector Accounting Standards Committee of CA Sri Lanka with the participation of the Ministry of Finance and Planning published the second volume of the Sri Lanka Public Sector Accounting Standards. The second volume contains six accounting standards, totaling ten public sector accounting standards following the inaugural volume which was published in November 2009.