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The 22nd National Conference of the Institute of Chartered Accountants of Sri Lanka (ICASL) is tipped to attract a record participation this year with International presenters from India and USA.

Scheduled for December 20 to 22, the conference titled 'Creating Value at New Economy' will encapsulate the thinking behind all technical sessions", Chairman of the Technical Committee Rajendra Theagarajah said.

He said "we have three plenary sessions that will examine how the accounting profession can take advantage of applying knowledge in creating value to the business enterprise of the future."

Discussions will revolve around how Chief Executives can take stock of their current business model and lead the process of repositioning the enterprise to take advantage of the new economy. The management of regulatory challenges including deregulation will be discussed with reference to experience gained from deregulation of the Insurance Industry in India. The role of finance will be discussed extensively in relation to the expectations of the future business enterprise.

Commenting on the concurrent sessions, the Joint Chairmen of the Conference Organising Committee, Yohan Perera and Indrajith Fernando said six papers would be presented during three concurrent sessions. Topics have been carefully selected to cater for special interest groups.

The future of ethics will be discussed including the role of "Ethical Leadership" necessary to shape the future of business. Retention and development of human capital will be examined along with the role of ESOPs in such wealth creation process. Opportunities for Accountants to create value by refocusing the business enterprise with technology will be explored.

A Silicon Valley professor will re-live his experience of managing a "start-up" successfully into a fully-fledged knowledge-based enterprise and discuss various challenges faced including seed capital financing.

A case will be made for developing common International Finance Reporting Standards across national boundaries while the future of periodical financial reporting will be challenged. The development and application of audit assurance services will be examined in the context of value addition to the business enterprise.

Ranel T. Wijesinha, President of ICASL said "We in Sri Lanka have a great deal of catching up to do. The issues discussed, although a microcosm in a national context, are our contribution to awareness building, knowledge and skill enhancement. We have opened registration to a larger number of non-members this year and I'm happy that many have taken advantage of this offer. 

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