CA Sri Lanka strengthens its presence globally with Chapter in Kuwait

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently inaugurated yet another overseas chapter in Kuwait, as it continues to strengthen it’s presence globally.

The chapter was officially inaugurated in the presence of CA Sri Lanka President Mr. Arjuna Herath, the acting High Commissioner of Sri Lanka in Kuwait, office bearers of several Sri Lankan associations, over 40 members of the institute as well as representatives of the Kuwaiti corporate community, including managing partners of leading audit firms.

Speaking on the importance of establishing overseas chapters, Mr. Herath said that although CA Sri Lanka takes pride as a national body, the institute commands an international outlook, with a significant presence at a global level.

“CA Sri Lanka is recognized by international accounting professional organizations as world class,” Mr. Herath said.

He emphasized that of the 4600 members at present, over 30 percent serve in overseas positions spanning some 40 countries, which is a significant achievement for a local accounting body.

“Professional development is imperative if one is to enjoy success in today’s constantly complex and evolving world; therefore, we understand the importance of overseas chapters in countries where there is a significant presence of our members.The main aim of our chapters, including the chapter in Kuwait, is to enhance the professional competencies through CPD programmes for CA Sri Lanka members; Provide an opportunity for social and community interaction; Advocate and promote the value that the members add to the business; while also working closely with the members and the Sri Lanka community in Kuwait,” Mr. Herath said.

He also expressed hope that the CA Sri Lanka chapters can be an important platform which could help position Sri Lanka in the world arena by facilitating trade and investments between Sri Lanka and the respective countries are chapters are established in.

President of the CA Sri Lanka Kuwait Chapter, Mr. Sajad Abdul Cader said that with the establishment of the chapter, Chartered Accountants in Kuwait are united locally as one family and the chapter will be used by CA Sri Lanka as the sole window to engage with members more closely of its future activities.

“We have a tall order of a ‘hopes list’, which is awaiting for the future execution, and we are committed to achieve them. The strategic initiatives include, redefining Sri Lanka as a knowledge exporter, be the foundation and act as liaison for the Kuwait- Sri Lanka business initiatives, establish an examination center and look at the possibility of following compulsory training for future aspiring CAs who are working in Kuwait, thereby offering a solid platform for continuous professional development of members through technological means,” he said.

Chief Executive Officer of CA Sri Lanka, Mr. Aruna Alwis said that a large Sri Lankan community works in the Middle East, and a significant contribution to our foreign exchange comes from the Middle East, from professionals hailing from multiple sectors, including chartered accountants. “Therefore, it is imperative that we enhance the standing of our professionals in this region, so they can enjoy greater success in their profession, apart from playing an important role in helping develop our national economy,” he said.

He added that this year, apart from Kuwait, CA Sri Lanka also established a chapter in the United Arab Emirates, and plans are underway to establish chapters in several other countries where there is a significant number of CA Sri Lanka members present.