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CA Sri Lanka, Ministry of Higher Education kicks off fresh initiative to strengthen public sector financial management

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) together with the Ministry of Higher Education carried out a workshop on public sector finance management for the benefit of all state sector higher educational institutions.

In its capacity as the national accounting body and having understood the important role the public sector plays, CA Sri Lanka together with the Ministry of Higher Education organized the workshop on public sector finance management for finance and non-finance professionals who are attached to state owned higher educational institutions.

The workshop conducted by Mr. V. Kanagasabapathy, President of the Association of Public Finance Accountants of Sri Lanka and Mr. Hussain Moosajee, Consulting Trainer shed important insights to professionals employed in the state sector on the importance of financial management with special focus on government financial reporting aspects relevant to the university system.

President of CA Sri Lanka, Mr. Arjuna Herath said that the institute in its capacity as the national accounting body formed under an Act of Parliament is fully committed to serve and support the public sector in its efforts to build capacity and improve accounting, and auditing and financial management practices in the public sector.

“To ensure that this important objective is realized, CA Sri Lanka together with the Ministry of Finance and Planning published ten Sri Lanka Public Sector Accounting Standards to further uplift the accounting and financial reporting standards of the public sector,” he said.

Chairman of the CA Sri Lanka Business School, Mr. Sujeewa Rajapakse said that the institute takes it upon its responsibility to propagate the importance of accounting and financial aspects relevant to all professionals in Sri Lanka to enhance their knowledge.

“There is no doubt universities both state and private, play a significant role in grooming a skilled workforce for our nation, and as Sri Lanka strives to be better among the best, we all have an important role to play in helping our country reach this ambitious target,” he said.

Mr. Rajapakse pointed out that such workshops will contribute to the enhanced knowledge of professionals, and will also help professionals become better in their chosen fields, which will eventually reflect on the longer term development of Sri Lanka.

Chief Executive Officer of CA Sri Lanka, Mr. Aruna Alwis noted that increased attention has been paid in recent years to develop and enhance the standing of public sector employees, among which CA Sri Lanka has also established a public sector wing to enhance the capacity and capabilities of public sector accountants, auditors and assessors.