MBSL supports organizations though IFRS, SLFRS

Merchant Bank of Sri Lanka PLC (MBSL) held a seminar on "Easy ways of implementing International Financial Reporting Standards (IFRS)and Sri Lanka Financial Reporting Standards (SLFRS) for quoted public companies, banks, insurance companies and SME Sector" at Taj Samudra Hotel - Crystal Room on Friday, the June 15 . The guest speaker at the event was Accounting Standards Specialist Sujeewa Mudalige, Partner - Pricewaterhouse Coopers.

A diverse cross section of the financial sector who attended the event comprised of chief executive officers, chief financial officers, finance managers, SAP specialists, ERP specialists, analysts, financial accountants, management accountants, staff of audit firms, financial advisory and consultancy firm staff, IFRS implementation teams, accounting system implementation teams, financial statement users of SME sectors, listed companies, banks, insurance companies and people with special interest in IFRS implementation.

Chairman of MBSL M.R. Shah said, "The financial statements help to quantitatively and qualitatively describe the financial health of a company.

A benefit of having one worldwide use of financial reporting is to make it easier to compare the financial position of different companies in different countries, thus improving decision making while having an unique form of accounting rules for similar transactions that occur in any part of the world."

"We have been successful in conducting a series of seminars from 1997 on many appropriate topics at the opportune time by way of organizing seminars, workshops, full day programmes and breakfast meetings. These forums were highly sought after due to its need and importance at those crucial junctures."he added.