Comprehensive view of economy

Sunil Karunanayake, Chartered Accountant and well-known business sports writer launched his maiden publication Business and Corporate Affairs at the auditorium of the Institute of Chartered Accountants Sri Lanka. His 257 pages book comprises five sections i.e. business/corporate, banking/finance, economic affairs/education and social overheads and changes and development. The book covers the economic activities of Si Lanka spanning over near seven years. He begins from the 2004-'05 period where the Sri Lankan economy was under heavy stress amidst intensified conflicts in the North and the East of Sri Lanka.

Governor of the Central Bank, Ajith Nivard Cabraal adds in his foreword Karunanayake, brings his years of experience as a journalist and fellow Chartered Accountant to this book on wide ranging areas from economics, banking and finance, law and sports. He further adds “I am pleased to see that Karunanayake has selected a period for his analysis where the field of business and corporate affairs in Sri Lanka has witnessed some significant changes. The author's effort to give focus to contemporary issues such as US sub Prime crisis, new direction for tea industry, IFRS latest phase in financial reporting, post crisis developments of banking industry with reference to latest legislations such as Dodd Frank Wall Street reforms, sports, economy, retirement benefits, ageing population etc enriches the value of the book.

Author's interview with IMF representative in Sri Lanka Koshy Mathai in the midst of Sri Lanka's problems and the resultant IMF bailout using titles from Winston Churchill’s famous multi volume history of ‘World War II’ provides interesting reading. The author has taken great pains to spare much of the space for Tsunami and its aftermath in a moving manner. Dr Wickrema Weerasuriya eminent lawyer, diplomat and academic presented an elaborate review of the book commending the author while M D D Pieris distinguished civil servant of yesteryear made an analytical presentation on selected chapters of the book.