CA Sri Lanka launches novel e-learning certificate course on SLFRS for professionals

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently unveiled an online certificate course on the Sri Lanka Financial Reporting Standards (SLFRS), which has been designed exclusively for the professional advancement of accounting and finance professional living in Sri Lanka and overseas.

The online course was launched in presence of Mr. Emanuel Salinas Munoz, Programme Leader – Growth and Competitiveness of the World Bank.

Speaking at the event, Mr. Munoz commended CA Sri Lanka for its farsightedness and for being innovative. “In today’s world, online education is rapidly gaining importance, and will be one of the main channels to educate people. The potential for mass online courses is widely recognized as part of the future in the provision of education, and we are pleased to see CA Sri Lanka adopting to this modern learning technology.”

He also applauded CA Sri Lanka for being among the first countries in South Asia to adopt the International Financial Reporting Standards, and for taking the initiative to drive the reforms.

Mr. Munoz also highlighted that with the launching of the e-learning course, CA Sri Lanka has proved that the accounting profession is also good at innovation. “What your showing is that the profession is good at innovation by making education accessible for people in different parts of the world with the use of technology. The World Bank is very committed to supportingthe development of professional education and training opportunities that meets the needs of countries like Sri Lanka,” he assured.

President of CA Sri Lanka, Mr. Arjuna Herath said that every effort has been taken to ensure that all implementation in regard to financial reporting, auditing standards and best practices in corporate governance has been carried out in true spirit and as effectively as possible. “CA Sri Lanka is also determined to build the capacity required to ensure this implementation is as effective as how it should be, and we have been very successful in that journey and we can match any accountant in the world in terms of accounting and auditing standards,” Mr. Herath said.

Citing reasons for his point, Mr. Herath noted that the fact that 30 percent of the 4600 CA Sri Lanka members were working overseas, which was an indication that CA Sri Lanka members were both mobile and recognized around the world. “We have over 330 in Australia, over 100 in US and UK, and a significant number in the Middle East, which is a clear testimony that we have been able to build skills and knowledge and attitude that a professional accountant needs,” he added.

He noted that with the launch of the e-learning course which was developed with the support of the World Bank, the course will prove to be a significant tool that helps to maintain and build the capacity, skills and knowledge of members of the profession.
“We want to ensure that all our members’ skill and knowledge are maintained. And for this task, technology is needed, hence we decided to launch this e-learningmodule. So at the comfort of their office or home – they have the ability to refresh their knowledge on the latest updates on SLFRS,” he added.

Mr. Sanath Fernando, Chairman of the SLFRS Education Committee of CA Sri Lanka delivering a speech on the ‘Key features of SLFRS Certification Course’ said that this course basically covered the A to Z that anyone wanted to know on SLFRS, and gives full coverage on all the standards that are applicable today. He said that the course is available for students, members of CA Sri Lanka as well as members of other professional bodies and academia.

The SLFRS Bound Volume – 2015 was also launched at the event, and Mr. Suren Rajakarier, Partner of KPMG gave a detailed overview on the “Latest update on SLFRSs”