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US training on Accounting Standards & IT

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The first group of Sri Lankan public sector accounting and auditing professionals participated in Sri Lanka Public Sector Accounting Standards 11-20 through a training by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and its public sector wing, the Association of Public Finance Accountants of Sri Lanka (APFASL).

The U.S. Government, through its development arm – the U.S. Agency for International Development (USAID) – supported the training under its Partnership for Accelerating Results in Trade, National Expenditure, and Revenue (PARTNER) activity.

The first 50 of a total 600 public sector accountants and auditors learned about the standards, which provide a framework for preparing and presenting financial statements under the accrual accounting system in line with international best practices. The partnership of USAID, CA Sri Lanka, and the APFASL will also train 1,200 public sector workers on the effective application of IT systems for data management, analysis, and strategic decision-making.

“As one of the country’s longstanding development partners, we are committed to help strengthen and streamline Sri Lanka’s public financial management practices and thereby its path to recovery,” USAID Sri Lanka and Maldives Mission Director Gabriel Grau said at the inaugural training. “Further strengthening skills and competencies of key accounting and auditing professionals can help contribute to this long-term goal through improved financial analysis, planning, and management”.

In his opening remarks, Mr. V. Kanagasabapathy, President of APFASL, said: “Strong public financial management is imperative to achieve the long-term goals of any country, therefore, in our standing as the public sector wing of CA Sri Lanka, APFASL has taken immense pride in being a catalyst in helping strengthen the public financial management practices in Sri Lanka. We are delighted that the U.S. Government has recognized our important work and is supporting our efforts to help public sector accounting and auditing professionals perform better.”

Mr. Heshana Kuruppu, CA Sri Lanka Vice President said, “The public sector in Sri Lanka is considered to be large in comparison to the size of our economy, employing approximately 1.5 million people. This sector also holds the key to helping change the lives of 22 million people. Excellent public financial management will play a critical role in achieving this important objective and improve productivity of the sector. As the national body of accountants, CA Sri Lanka together with APFASL are committed to helping the public sector contribute effectively to the economy. The launch of this landmark program with USAID is part of our continuing efforts to achieve this crucial goal.”

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Visiting Indian delegation holds talks with Power minister

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A discussion had been on Energy sector cooperation & Investments today (24) with the visiting delegation from India led by Secretary of India’s Ministry of Petroleum and Natural Gas – Mr. Pankaj Jain, at the Ministry of Power and Energy in Colombo.

Taking to Twitter, Sri Lankan minister of Power and Energy said that several topics such as the development of Trincomalee as an energy hub, oil & gas exploration, renewable energy, LNG infrastructure development & supply and solar cooking burners were discussed.

The Indian delegation included the Officer on Special Duty, Ministry of Petroleum & Natural Gas – Ms. Esha Srivastav, IOC Chairman –  Mr. S. M. Vaidya, Chairperson of Engineers India Limited – Ms. Vartika Shukla, MD of Petronet LNG Limited – Mr. A.K. Singh, MD of the ONGC Videsh Limited – Mr. Rajarshi Gupta, Director Hindustan Petroleum Corporation Limited – Mr. Amit Garg.

They were accompanied by the High Commissioner of India to Sri Lanka – Mr. Gopal Baglay, the Deputy High Commissioner – Mr. Vinod. K. Jacob as well as officials of the Indian High Commision.

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Dhananjaya denies claims on refusal to bat at No. 7

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Sri Lankan cricketer Dhananjaya de Silva has refuted claims that he refused to bat at No. 07 position in tomorrow’s ODI match against New Zealand.

Tweeting, he said: “The story circulating in social media saying that I have refused to bat at No. 07 during tomorrow’s game is false, and I wish to state that I am a player who always stands with the team”.

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Ensure safety of Saliya Peiris – BASL

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In a letter to the Inspector General of Police, the Bar Association of Sri Lanka (BASL) has requested the police take necessary action to ensure the safety of the BASL President – Saliya Pieris.

The letter to the IGP relates to the protest that took place opposite the chamber of Saliya Pieris PC.

view the said protest seriously hinders his right to represent a client, a professional right which has been safeguarded by law,” the BASL said.

“Therefore, we strongly demand that you take action to ensure that Mr. Peiris’s professional duties as an Attorney-at-law, are not hindered and to ensure his safety,” the BASL added.

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