ICASL expands training partner base

The Institute of Chartered Accountants of Sri Lanka (ICASL) approved 60 new training organizations during 2010, further expanding its network of training organizations.

ICASL is the largest tertiary education service provider in the country outside the local university system with a student base of over 36,000. In 2010 alone, over 8,000 students enrolled for the course affirming the Institute’s predominant position in the industry.

Practical training is a distinct feature of the Chartered Accountancy qualification and it is a mandatory requirement for students to complete the qualification and obtain the Chartered Accountant status. ICASL believes that learning in the working environment is the best way to understand what are being taught in the study program.

During the course of the program, students are required to complete three to four years of practical on the job training which gives a good range and depth of technical work experience that becomes increasingly challenging as the period of training progress.

The approved training organizations represent both audit and non-audit (commercial) sectors, including all top practicing firms and reputed companies island-wide, including the North and the East. The growing number of training organizations is a worthy testimony to the recognition and demand for the Chartered Accountancy qualification among corporates.

The training organizations are a key stakeholder group of ICASL and the Institute maintains a good working partnership with them. Many of these Institutions have arrangements to absorb these trainees to their permanent cadre as they complete the qualification as Chartered Accountants.