The Association of Public Finance Accountants of Sri Lanka (APFASL), the Public Sector Wing of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), successfully held its Fifth Annual Conference on 01st November 2024 at the CA Sri Lanka Auditorium. The event, attended by a large gathering of APFASL/CA members and public sector finance professionals, centered around the theme “Legislative Reforms Driving Economic Change: The Role of Public Sector Professionals.”
This year’s conference focused on three key legislative acts that have a profound impact on Sri Lanka’s economic governance: the Central Bank of Sri Lanka Act, the Public Debt Management Act, and the Anti-Corruption Act. The discussions revolved around how these laws are set to enhance transparency, accountability, and economic stability. The conference provided a platform for public sector professionals to explore the implications of these reforms on the country’s fiscal policies and economic trajectory.
The Chief Guest, Mr. Arjuna Herath, Chairman of the Board of Investment (BOI) of Sri Lanka, Past President of CA Sri Lanka, Chairman of the Policy Advocacy and Economic Contribution Committee of CA Sri Lanka, and Director of the Colombo Stock Exchange, emphasized the importance of sound legislative reforms in driving economic progress. “The theme of this year’s conference aptly reflects the significant role that public sector professionals play in implementing fiscal policies and legal frameworks that can guide our nation toward sustainable growth and development,” he said.
The conference was graced by Mr. Heshana Kuruppu, President of CA Sri Lanka, Mr. Tishan Subasinghe, Vice President of CA Sri Lanka, and Ms. Lakmali Priyangika, CEO of CA Sri Lanka.
In his speech, Mr. Kuruppu underscored CA Sri Lanka’s commitment to uplifting public sector standards, stating, “Proper legislative frameworks in public finance are crucial in enabling governments to meet the needs of their citizens effectively.”
The conference featured insightful presentations by leading experts, including:
Dr. Harsha Cabral PC, a prominent legal scholar, discussed the recent Anti-Corruption Act and its significance for governance and public sector accountability.
Mr. K. G. P. Sirikumara, Assistant Governor of the Central Bank of Sri Lanka elaborated on the Central Bank of Sri Lanka Act and its implications for monetary policy and economic stability.
Ms. Visaka Amarasekara, an authority in public debt management, offered insight into the Public Debt Management Act and strategies for sustainable debt practices.
The event concluded with an engaging panel discussion moderated by Ms. K. V. C. Dilrukshi, Director of the Public Enterprises Department at the Ministry of Finance. The panelists discussed the practical challenges and opportunities arising from the new legislative changes, particularly in relation to enhancing the governance of public finance. The discussion offered clarity on various aspects of the newly enacted laws, leaving participants with a deeper understanding of their roles in implementing these reforms.
The conference, through its comprehensive academic sessions and interactive dialogue, highlighted the pivotal role of public sector professionals in driving Sri Lanka’s economic recovery and sustainable growth through informed fiscal management and legal compliance.