News

US training on Accounting Standards & IT

Published

2 years ago

February 16, 2023

editor

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.”

News

Major reforms planned for bus transport

Published

11 hours ago

April 28, 2025

editor

Minister of Transport, Highways, Ports, and Aviation, Bimal Rathnayake, recently held a special discussion with officials from the National Transport Commission (NTC), the Sri Lanka Transport Board (SLTB), and the Provincial Road Passenger Transport Authorities across nine provinces. The meeting led to several key decisions aimed at modernizing and improving the country’s road passenger transport sector.

Among the major initiatives discussed were:

Immediate implementation of an integrated bus timetable for the Puttalam route.
Launch of a pilot project on Route 138, where all buses operate under a single association with profit-sharing arrangements.
Installation of GPS and CCTV systems in buses for improved monitoring and safety.
Development of an online ticket booking system in collaboration with the Ministry of Digital Technology.
Introduction of random drug and alcohol testing for bus drivers.
Mandatory issuance of bus tickets through electronic ticketing machines (implementation phase in progress).
Formulation of specifications for buses used in passenger transport.
Mandatory seatbelt usage for bus drivers.
Identification of new roads/routes for the addition of new bus services.
Provision of WhatsApp numbers for passengers to report complaints about buses, with numbers prominently displayed inside buses.
Minister Rathnayake emphasized the need for swift action to implement these measures and instructed officials to continuously monitor and report on the progress of each initiative.

(dailynews.lk)

(Except for the headline, this story, originally published by dailynews.lk has not been edited by SLM staff)

News

Chongqing gears up for 25th Lijia International Intelligent Equipment expo

Published

13 hours ago

April 28, 2025

editor

The international internet celebrity city of Chongqing in China will host a grand equipment manufacturing industry event – the 25th Lijia International Intelligent Equipment Exhibition 2025 next month.

The Expo will be held at the Chongqing International Expo Center from May 13th to 16th, 2025, attracting exhibitors and professional visitors from all over the world to discuss and showcase the latest technologies and products in the equipment manufacturing industry.

This exhibition, spanning across 100,000 sq. meters will bring together 1,400 globally renowned enterprises which will showcase their intelligent manufacturing equipment and technology, particularly the latest achievements, cutting-edge technologies, and high-end products in the fields of machine tools, industrial automation and robots, tool holders and measuring tools, sheet metal, die-casting casting, molds, rubber and plastic.

The 2025 Lijia Exhibition will also create multiple themed exhibition islands showcasing manufacturing powerhouses of China, which will comprehensively showcase solutions to industry pain points through on-site demonstrations, technical explanations, and physical displays.

In addition, the exhibition will also hold over 100 industry conferences and events. The main forum, “FIM-Future Intelligent Manufacturing Conference,” focuses on future factories, with the theme of AI+manufacturing. Industry experts are expected to provide suggestions and recommendations for manufacturing transformation.

Organizers point out that for global manufacturing enterprises, the expo is not only an excellent opportunity to learn about the latest technologies and products in China’s equipment manufacturing industry, but also also an important platform for gaining a deeper understanding of the Chinese market and expanding international cooperation. It will also open up opportunities to engage in in-depth exchanges and cooperation with Chinese counterparts, and to jointly promote the development and prosperity of the global equipment manufacturing industry.

News

RW issues special statement after exiting CIABOC (Video)

Published

14 hours ago

April 28, 2025

editor

Former President Ranil Wickremesinghe has left the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) after providing a statement today (April 28).

Soon afterwards, he had also made a special statement in this regard.

(Video : VoiceTube)

(Previous news 2025 April 28 – 9.20.a.m.)

Ex-President Ranil to appear before CIABOC today

Former President Ranil Wickremesinghe is scheduled to appear before the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) today (April 28) at 9.30 a.m.

He has been summoned to record a statement over the statement he had made on MP Chamara Sampath Dassanayake.

Former President Wickremesinghe, who was initially summoned to the CIABOC on April 17 but requested a postponement. He had requested a date after April 27th to appear before CIABOC, citing that his lawyer Ronald Perera is currently abroad.

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