22nd January 2025: Past President of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), Mr. Manil Jayesinghe, who also serves as the Chairman of the Accounting Standards Committee of the South Asian Federation of Accountants (SAFA) and the Chairman of the Accounting Standards Committee of CA Sri Lanka, has been appointed to the Advisory Council of the International Financial Reporting Standards (IFRS) as the representative of both CA Sri Lanka and SAFA.
This distinguished appointment, approved by the Trustees of the IFRS Foundation, took effect on 01st January 2025 for a three-year term.
The IFRS Advisory Council plays a pivotal role in the development of global accounting standards, and Mr. Jayesinghe’s appointment ensures that Sri Lanka and the South Asian region will have a continued and impactful presence in shaping the future of the global accounting landscape.
This significant recognition underscores the growing influence of CA Sri Lanka and SAFA in the global accounting profession while also highlighting Mr. Jayesinghe’s outstanding contributions to accountancy on both local and international fronts.
Mr. Jayesinghe is a Chartered Accountant with over 40 years of experience in auditing and professional services. He is a Fellow Member of CA Sri Lanka and the Chartered Institute of Management Accountants (CIMA), UK. Apart from holding the distinguished position of President of CA Sri Lanka from 2019 to 2021, Mr. Jayesinghe’s illustrious career includes serving as Managing Partner of Ernst & Young (EY) for Sri Lanka and the Maldives and leading EY’s Assurance Practice in Sri Lanka. His expertise spans a diverse range of industries, including banking, financial services, insurance, manufacturing, telecommunications, retail, and wholesale businesses.
In addition to his new role on the IFRS Advisory Council, Mr. Jayesinghe also holds several other prominent positions, including Member of the Securities and Exchange Commission of Sri Lanka, Member of the Board of the Sri Lanka Accounting & Auditing Standards Monitoring Board, Consultant to the Audit Committees of several listed entities at the Colombo Stock Exchange, Member of the Auditing Standards Committee of CA Sri Lanka since 2009, and Council Member of CMA Sri Lanka.
Mr. Jayesinghe has chaired the Accounting Standards Committee of SAFA since 2018 and the Accounting Standards Committee of CA Sri Lanka since 2019.
