Corporate governance, accounting education and forensic accounting came into focus at the second research symposium organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) which was held under the patronage of Prof. D.B.P.H. Dissa Bandara of the University of Sri Jayewardenepura.
Moratuwa University Vice Chancellor Prof. Kapila Perera was the keynote speaker.
The symposium brought together researchers who presented their research findings covering the three areas that took centre stage during the forum, which features three panel discussions with industry experts, including top accounting professionals.
‘The Journal of Applied Research’ which consisted of six articles on corporate governance, accounting education and forensic accounting was launched with a copy of the journal being presented to the Vice President of CA Sri Lanka, Manil Jayesinghe by Research Committee Chairman Nishan Fernando.
Vice President Jayesinghe said accounting professionals across the globe were facing changes and challenges.
“Many accounting processes are being automated. We have come a long way from the abacus and even the calculator, with us now using terms such as Artificial Intelligence, Block Chain, Cyber Security and Data Analytics regularly,” he said.
He said there is a debate on how accountants must remain relevant due to the growing challenges.
“This is where events such as a research symposium can play an important role as it can be an important forum that can give us an important direction as the way forward for the profession,” he said.
Jayesinghe said research is an almost alien subject to accountancy profession, but as the leading accounting body in the country, the CA Sri Lanka has taken the lead to focus on such pertinent matters due to the need of the hour.
Research Committee Chairman Nishan Fernando said research will open new avenues for members and students of the institute to engage in research and publish the research papers in a recognised research journal.
“Research is an area which is lacking in most professional accounting curricula. In developed countries, professional accounting courses may not have the research element as they are postgraduate courses. The students are supposed to have developed research skills in their undergraduate studies,” he said.