Corporate governance, accounting education and forensic accounting takes centre stage at CA Sri Lanka’s research symposium

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 while the keynote speaker was Prof. Kapila Perera, Vice Chancellor of the University of Moratuwa.

The symposium brought together researchers who presented their research findings covering the three areas that took centre stage during the forum, which also features three panel discussions with industry experts including top accounting professionals.

During the symposium, ‘The Journal of Applied Research’ which consisted of six articles focusing on corporate governance, accounting education and forensic accounting was also launched in the presence of the gathering with a copy of the journal being presented to the Vice President of CA Sri Lanka Mr. Manil Jayesinghe by the Chairman of the Research Committee Mr. Nishan Fernando.

Speaking at the event, Mr. Jayesinghe said that accounting professionals across the globe was facing significant changes and challenges. “Many accounting processes are now being automated, and 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 all too regularly,” he said.

He said that due to the growing challenges, there is increasing debate on how accountants must remain relevant. Mr. Jayesinghe noted that the profession was not only facing challenges from external forces, but also from within the profession. 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.

Mr. Jayesinghe said that research is an almost alien subject to accountancy profession, but as the leading accounting body in the country, CA Sri Lanka has taken the lead to focus on such pertinent matters due to the need of the hour.

Speaking at the event, Mr. Fernando said that the research will open new avenues for members and students of the Institute to engage in research and publish the research papers in a recognized research journal. “Research is an area which is somewhat lacking in most professional accounting curricula. In developed countries professional accounting courses may not have research element as they are postgraduate courses. The students are supposed to have developed the research skills in their undergraduate studies. In developing our curricula we follow the best in the developed countries sometimes without realizing that our entry level is not postgraduate. This research initiative is supposed to fill the gap created as a result,” he added.

During the event, member of the Institute Mr. Chandra Jayaratne was also recognised for his contribution made towards the development of the accounting profession.