ICASL celebrates Golden Jubilee in Kandy

The Institute of Chartered Accountants of Sri Lanka (ICASL) hosted a fellowship dinner last week at the Earl's Regency Hotel, Kandy.

Central Province Chief Minister Sarath Ekanayake, Mayor Kandy Municipal Council, L.B. Aluvihare and other guests were present.

ICASL mainly focused on studies, training and examinations over the years. In the recent past ICASL enacted a code of Corporate Governance in collaboration with the Colombo Stock Exchange which now forms part of the CSE listing rules.

The institute holds the Best Corporate Report Competition annually which has strengthened the Standards of Financial Reporting in Sri Lanka.

Council Member Sujeewa Rajapakse said that the largest concentration of Chartered Accountants outside the Western Province is found in the Central Province, and a considerable number of Audit Firms have their branches in Kandy.

The number of students who select Accountancy as a career path is also high in the Central Province.

The Chairman of the 50th Anniversary Celebration Committee of ICASL Lal Nanayakkara said "at a time, the role of the accountant is called into question globally, ICASL is mindful up its obligations in the public interest. This Fellowship dinner is a good opportunity to promote a dialogue with our stakeholders. Past President and Senior Partner of Ernst and Young Chartered Accountants Asite Talwatte said about the need to develop a closer understanding between the respective roles of the institutes, other professionals, business community and the academic. The Global Financial Crisis has thrown up new challenges and it is through such understanding effective solutions could be found to counter such challenges. CEO of ICASL Aruna Alwis explained the reasons for the decision of the council to have regional fellowships and conduct the inaugural fellowship dinner in Kandy.