ICASL, ICAEW hold discussions

To further develop chartered accountancy in both countries:

The Institute of Chartered Accountants of Sri Lanka (ICASL) together with the Institute of Chartered Accountants of England and Wales (ICAEW), a world leader of the accountancy and finance profession last week pledged to further develop chartered accountancy in the two countries as a result of the reciprocal agreement signed between the two institutes in October 2010. At a presentation which showcased the benefits and scope of the ICASL-ICAEW reciprocal agreement, ICAEW’s New Business Opportunities Head Justin West said declared that the two institutes were looking at going beyond exchanging membership and was seriously focusing how the two institutes can share talent, ideas and technical expertise which will help take the profession forward.

In a detailed presentation, West who articulated the international recognition possessed by ICAEW and thereby the benefits that members can enjoy with an ICAEW membership, disclosed that within the next six months, both institutes will make an announcement on the tangible benefits that its members can enjoy which would help in the further development of their professional goals.

“We have had positive discussions on how to take this agreement forward with deeper collaboration and we hope to make an announcement in around six months on the tangible benefits of this agreement,” West said.

The ICASL is among a handful of national institutes which enjoys an agreement of such magnitude with ICAEW, which has a membership of more than 136,000 from over 160 countries.

The ICASL President Sujeewa Mudalige said that the ICASL and the ICAEW share an impressive relationship which goes back many decades.

“The ICAEW helped to establish the ICASL in 1959 and incidentally, all our founder members were members of the ICAEW and this agreement further cements the linkage we share with ICAEW,” he said.