The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) granted gold and silver status to 12 of its accredited learning partners, while 60 lecturers who deliver the institute’s benchmark program in chartered accounting were recognised at a ceremony held under the patronage of Minister of Higher Education and Cultural Affairs, Dr. Wijayadasa Rajapaksa, recently.
The Institute for Accounting Studies (Pvt) Ltd, Inspiro Business School (Pvt) Ltd and Jayasekera Management Centre (Pvt) Ltd, which conduct lectures for all three levels of the CA program were elevated to gold status.
IBA Campus, Institute of Business Management, National Institute of Co-operative Development and Sipwin Institute which conduct lectures for the Executive and Business Levels were elevated to gold status. The MBS Education Institute which conducts lectures for the Executive Level was also recognised as a gold partner. Knowledge Based Business Studies (Pvt) Ltd which conducts lectures for all three levels of the CA program received silver partner status, while the Institute of Professional Management, Institute of Professional Creation (Pvt) Ltd and Institute of Vision Launch which conduct lectures for Executive Level were granted silver status. Sixty lecturers were recognised as registered lecturers of the Institute and received certificates.
Minister Dr. Wijayadasa Rajapaksa commended the Institute for its futuristic vision and for maintaining quality and accreditation of the Institute and its qualifications. “When I look at the activities of the institute, it shows that our local university system is far behind,” he said. He said that going by the figures of the institute’s annual intake which is between 7,000 to 10,000 it was clear that CA Sri Lanka was rendering a great national service without being a burden to the public. “Your service to the country is extensively admired and appreciated,” Dr. Rajapaksa said. He also added that accountancy is an essential component of the economic system in any country and in the absence of a proper accounting system, one cannot expect any kind of development in a country. He also emphasized the need for public sector accountants to show more commitment when carrying out their responsibilities.
President, CA Sri Lanka, Jagath Perera commended the role of the learning partners and the lecturers, who add value to the success of the accounting profession. “Your contribution adds real value to our success,” he said.
Perera said that the Institute has always been a self-funded organisation that not only provides knowledge but also provides services to the country in its capacity as the sole authority to promulgate accounting and auditing standards in Sri Lanka.
“To benchmark our qualifications, we assigned the task to NARIC UK, which is a government organisation in the United Kingdom, and after an independent review, they benchmarked our CA qualification comparable to a Master’s Degree,” he said.
Perera also disclosed that the Institute was currently in negotiation with several international universities to obtain accreditation for the benefit of the members of the Institute, so that they not only have a recognised professional qualification, but will also gain a postgraduate qualification from a university, which will ensure they are also academically qualified.
“CA Sri Lanka is not just an organisation providing qualifications, but we are also an organisation providing tremendous support to the development of the national economy,” he said.
The main objective of the accreditation process is to strengthen the mutual relationship between CA Sri Lanka and its stakeholders, to meet international requirements and also to uplift the quality of the CA program.