Page 139 - annual_report_2024

CA Sri Lanka Integrated Annual Report 2024 137

29. RELATED PARTY TRANSACTIONS
Payments are made in the ordinary course of business to any member of the Institute for certain specified activities. During the
reporting period the following members of the Council have been involved in such activities at the request of the Council on behalf of
the Institute.

For the year ended 31 December 2024 2023
Name Transactions Rs.’000 Rs.’000

Mr. Ashane Jayasekara Educational and Technical Activities - 472

Mr. Laknath Jayawickrama Educational Activities - 101

Prof. Athula Manawaduge Educational Activities - 432

Mr. S.M.S.S. Bandara Examination Activities 225 -

30. TRANSACTIONS ENGAGED BETWEEN CA SRI LANKA AND AAT, WHERE CA SRI LANKA APPOINTS EIGHT COUN-
CIL MEMBERS OUT OF THE SIXTEEN OF AAT.
For the year ended 31 December 2024 2023
Rs.’000 Rs.’000
Payments to AAT
Sponsorships 1,250 1,100
Receipts from AAT
Registration and tickets for Annual Report Awards Competition 185 295
Conference Participation 96 155
Webinar Participation - 10

31. FINANCIAL RISK MANAGEMENT
The Institute has exposure to the following risks from its use of financial instruments. These are monitored by the Council and Finance
and Administration committee on a regular basis:

Credit Risk

FINANCIAL
RISK

Liquidity Risk
Market Risk

31.1 Credit risk
Credit risk is the risk of finance losses to the Institute if a recipient of a service or counterparty to a financial instrument fails to meet its
contractual obligations.