The fundamental need for the accounting profession to focus on research and for researchers to contribute to the knowledge creation was highlighted at the third research symposium organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently.
A section of the gathering
The symposium which was held under the patronage of Mr. Gearoid O’Driscoll, President of the Institute of Certified Public Accountants in Ireland (CPA Ireland) and Mr. Eamonn Siggins, Chief Executive Officer of CPA Ireland also paid special focus on Regulatory Effectiveness on Auditing and Taxation, Corporate Reporting and Contemporary Issues.
CA Sri Lanka President Mr. Jagath Perera presenting a copy of the 'The Journal of Applied Research of CA Sri Lanka’ to Mr. Eamonn Siggins, Chief Executive Officer of CPA Ireland in the presence of CPA Ireland President Mr. Gearoid O’Driscoll and Prof. Ajantha Dharmasiri.
The keynote speech was delivered by Prof. Ajantha Dharmasiri, Director and Chairman of the Board of Management of the Postgraduate Institute of Management, University of Sri Jayewardenepura who utilised the platform to encourage researchers to carry out research not just for the sake of it but for socio-economic upliftment.
“Research gives us multiple lenses to see the reality and to discover and unearth reality,” he said. Prof. Dharmasiri highlighted that research is not about making matters complex, but it’s a form of a simplifying matters.
“It’s about making complex things simplified. But that doesn’t mean you must be shallow or be superficial or be overly simplistic. Research is about making it clear and clever, so you can illustrate it in a way people can comprehend, understand, reflect and relate.”
Prof. Dharmasiri termed research to an unsolved puzzle which needs illumination. However, the professor also lamented on how researchers including academics were trapped in a cycle which prevents them from going beyond capturing knowledge and communicating knowledge.
“Researchers must go to the next level which is knowledge creation – this is fascinating because you contribute to the existing knowledge by doing something new. That’s how you add value to the existing body of knowledge,” he said.
He also urged CA Sri Lanka to create more opportunities which will benefit more prolific young and upcoming bright researchers.
CA Sri Lanka President Mr. Jagath Perera highlighted that accounting professionals do not carry out sufficient research about the environment they are working in. He emphasized the growing need for the accounting profession to focus on research if it was to understand how to resolve problems faced by the profession.
“We must carry out research, identify the solutions and those solutions must be brought back to the profession. In a simple way we have started this process [through the research symposium] and there maybe improvements and changes required, but its working and we need to get maximum benefit from this initiative,” he said.
Chairman of the Research Committee Mr. Nishan Fernando said that amidst a fast-moving world, it is increasingly important to be aware of latest developments despite which field professionals are attached to. “We are in an era where we are trying to teach Advanced Level students to use tabs, but the calculator is not permitted for the Advanced Level Accounting paper,” he said. Therefore, Mr. Fernando said that embracing research was very important if the profession needs to be updated on the latest developments.
During the symposium, 'The Journal of Applied Research of CA Sri Lanka' consisting of eight articles focusing on Regulatory Effectiveness on Auditing and Taxation, Corporate Reporting and Contemporary Issues was also launched.
