State Accountants to work on Economic Revival

(LANKAPUVATH | COLOMBO) – The third annual conference and the sixth best annual report award ceremony of the Association of Public Finance Accountants of Sri Lanka (APFASL) in association with the Institute of Chartered accountants of Sri Lanka was held at the BMICH on Friday.

The conference provided guidance and motivation for the public sector financial professionals to move forward both professionally and personally to achieve state goals amidst challenging circumstances. They also discussed important matters of relevance to an economic revival.

The APFASL is the public sector wing of the Institute of Chartered Accountants of Sri Lanka (CA) that plays a vital role in promoting recommended public finance practices (PFM) in the country. The APFASL conference was an important platform to discuss pertinent matters of the government among a large group of key professionals across accounting and auditing positions in the public sector particularly in relation to public finance management function.

The theme of conference was “Transforming the Public Sector for Economic revival” in Sri Lanka and the public sector is identified as a key driver of economic development due to its role in infrastructure creation, employment generation, regional development and contribution towards capital development via its functioning in health and education services.

The public sector faces increasing financial constraints at a time when expectations for the quality of public services are growing. Expenditure on public services is significant in most countries and the situation in Sri Lanka is no different. Therefore, amidst increasing expectations of public services the management of public finance (PFM) practices is aimed at serving to maintain such discipline within the sector.

Mahinda Siriwardena attended as the chief guest while Priyantha Mayadunne, Secretary of the Ministry of Public Administration, Home Affairs, Provincial Councils and Local Government was the Guest of Honour. The key note address was delivered by Dr. P. Nandalal Weerasinghe, Governor Central Bank of Sri Lanka. V. Kanagasabapathy, President APFASL, Sanjaya Bandara, President CA Sri Lanka and Dr. Asela Athapathu were among the speakers.

A total of 12 public sector organisations walked away with Gold Awards in recognition of their high quality finance reporting at the Best Annual Reports & Accounts for 2022. The University of Peradeniya, Coconut Research Board, Employees Trust Fund, Ministry of Highways, National Intellectual Property Office, Department of Prisons, Southern Province Secretariat, Balangoda Urban Council, Rathnapura Municipal Council and Didugala Pradeshiya Sabhawa were among them.

Bronze and Silver awards were also presented to institutions among State Universities, Research Institutions, Statutory Boards, Ministries, Departments, Provincial Councils, Urban Councils, Municipal Councils and Pradeshiya Sabhas.


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