Business
CA Sri Lanka’s Annual Research Symposium focuses on transformations and disruptions facing accounting profession
With Chartered Accountants having to increasingly stay abreast on the never-ending transformations and disruptions facing their profession, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently organised its Annual Research Symposium paving the way for Accounting Professionals to discuss, deliberate, and act on the oncoming challenges engulfing the profession.
During the symposium on 14th December 2022, key research findings on contemporary issues facing the Accounting and Finance Profession took centre stage, with a group of well-versed researchers sharing their insights on Challenges in IFRS Implementation and Non-Financial Reporting, Forensic Education and Corporate Governance and Socio-Economic & Environmental Development.
The full-day event kicked off with two insightful speeches delivered during the inauguration session with Dr. P Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka setting the tone of the symposium by speaking on “Deep Roots of Sri Lanka’s Current Economic Condition and the Short-Term Recovery Strategy,” followed by Dr. Sirimal Abeyratne, Senior Professor in Economics of the University of Colombo who spoke on “A Comprehensive Policy Response to the Current Economic Condition of Sri Lanka.”
The symposium also consisted of an economic forum featuring Prof. Prema-chandra Athukorala, Emeritus Professor of Economics of the Australian National University forum’s keynote on “Policy Priorities for a Long-Term Recovery and Effectiveness of the Current Economic Restructuring Process of Sri Lanka.” His presentation was followed by a panel discussion featuring Sanjaya Bandara, President, CA Sri Lanka, Ms. Yvette Fernando, Deputy Governor, Central Bank of Sri Lanka, Ms. Bhavani Fonseka, Senior Researcher and Attorney-at-Law, Centre for Policy Alternatives and Mr. Murtaza Jafferjee, Chair, Advocata Institute. The session chair was Nishan Fernando, Chairman, Research Committee of CA Sri Lanka.
The symposium also comprised two technical sessions, the first session focused on “Forensic Education, Corporate Governance And Socio-Economic & Environmental Development” with Dr. S. I. H. Liyanage delivering a paper on “In Search of a Right Model for Corporate Governance in Sri Lanka: Lessons from the United Kingdom, South Africa, and India” which followed by a second paper on “Forensic Accounting Education: An Exploration of Accounting Curricula of State Universities in Sri Lanka” delivered by Dr. M. A. T. K. Munasinghe.
The panel discussion of the first technical session was chaired Jagath Perera, Partner, KPMG, and the panellists who shared their thoughts on the papers presented were Senior Prof. Hareendra Dissabandara, Senior Professor in Finance, University of Sri Jayewardenepura and Ashane Jayasekara, Deputy Managing Partner, BDO Sri Lanka.
The second technical session focused on “Challenges in IFRS Implementation and Non-Financial Reporting,” with Ms. P. P. Abeykoon presenting the third paper titled “Corporate Internet Reporting in Sri Lankan Listed Companies” and the fourth paper on “Challenges in Respect of Revenue from Contracts with Customers (IFRS 15): Evidence from the Software Development Industry in the Western Province of Sri Lanka” was by Ms. N. Gurusinghe. The final paper of the day was “Impact of the Extent of Integrated Reporting Adoption on Financial Performance: Evidence from Financial Sector Companies in Sri Lanka” delivered by C. Shabilnath.
The panel discussion of the second technical session was chaired by Prof. A Roshan Ajward, Alternate Chairperson, Research Committee of CA Sri Lanka and the panellists who shared their thoughts on the papers presented featured Sanath Fernando, Partner, Ernst & Young, Mohan Thanthirige, Group Financial Controller & Senior Vice President, John Keells Holdings PLC and Nuwan Withanage, CFO, Softlogic Life Insurance PLC.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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