Over 80 corporate directors rewarded by CA Sri Lanka, SEC

Monday, 11 May 2015 12:53 - - {{hitsCtrl.values.hits}}

A total of 23 high profile corporate directors were bestowed with the ‘Accredited Director’ status, while 58 directors were awarded with certificate of participation by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Securities and Exchange Commission (SEC) on 7 May for successfully completing the Corporate Directors Program.

The awards ceremony was held under the patronage of Securities and Exchange Commission Chairman Tilak Karunaratne.

As the trustees of the shareholders, directors play a major role in the business and therefore being equipped with the financial reporting requirements and the governance aspects have become vital for directors to perform their duties and responsibilities diligently. With this objective in mind, CA Sri Lanka and SEC came together last year to introduce a groundbreaking program for directors to help uplift their knowledge and skills to equip them with the required knowledge in today’s constantly changing context.

Having completed two successful intakes, the directors were recognised at the awarding ceremony for successfully completing the required modules of the program and those who have fulfilled the requirements to be recognised as Accredited Directors.

The program was conducted over 10 sessions and featured a combination of lectures, panel discussions and work group sessions featuring well known experts including representatives from the corporate community, regulatory agencies, corporate lawyers, financial analysts, auditors and assurance providers. CA Sri Lanka President Arjuna Herath, while congratulating the directors who were awarded with the Accredited Director status and the certificates, emphasised that a director’s role is both critical and wide in their capacity as trustees of shareholders.

“In today’s complex and constantly changing world, challenges are part and parcel of a director’s daily life. Therefore as an institute which is championing good governance and is continuously endeavouring to offer the country’s professional community with the thought leadership and most pertinent of programs for their advancement, the Corporate Directors Program is yet another important initiative aimed at enhancing the country’s corporate leadership,” he said.

He added that the importance of the program was obvious by the overwhelming response it received, which led to a quick comeback for a second time in 2014, although the original schedule was to organise only a single program for a year.

Meanwhile the third intake of the Corporate Directors Program will commence on 12 May.