CA Sri Lanka promotes importance of IFRS in Kandy

Wednesday, 9 October 2013 00:00 -     - {{hitsCtrl.values.hits}}

In its capacity as the sole authority to formulate accounting and auditing standards in the country, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will promote the importance of the International Financial Reporting Standards (IFRS) among professionals at a special four day training program scheduled be held in Kandy, next week. The IFRS Application Level Training Program, which aims to provide hands-on application level training on IFRS to ensure compliance in financial reporting standards, will be held from 8 to 11 October 2013 at the Queens Hotel, Kandy, featuring a team of four experts who will speak on a wide range of areas which are relevant in today’s context. The four-day program will kick off with a presentation by BDO Consulting Ltd. Managing Director Nishan Fernando, who will speak on consolidated issues and agriculture, while Kreston MNS & Company Partner Kapila Atukorala will speak on key balance sheet assets and constructions contracts on the second day of the program. The third day will cover fair value, deferred tax, leases and impairment which will be presented by Ernst & Young Manager Professional Practice Development Nilani de Silva while the resource person for the fourth and final day will be BDO Partners Partner Tishan Subasinghe who will speak on financial instruments, share based payments, employee benefits and the first time adoption of IFRS. Going forward with the convergence of the Sri Lanka Accounting Standards in line with IFRS, CA Sri Lanka embarked on a series of training programs to increase the adoption of IFRS across the country, with the support of a World Bank grant. Meanwhile, the institute has also organised a Guru Nena seminar series targeting the teachers of the central province. The seminar will be held on 10 October in Kandy and will be conducted by CA Sri Lanka Head of Technical Upendra Wijesinghe.