A forum for corporate decision-makers

Chairman of the Organising Committee for the 32nd National Conference of Chartered Accountants Arjuna Herath speaks about the compelling reasons why the ICASL’s national conference has gained in stature to become a key highlight in the country’s corporate calendar

One of the most-awaited corporate events in the year, the 32nd National Conference of Chartered Accountants, entitled ‘Quest for Balance,’ is slated to be held from 20 to 22 October 2011 at Waters Edge, Battaramulla.

Organised by the Institute of Chartered Accountants of Sri Lanka (ICASL), the theme for this year’s conference reflects the economic realities being experienced across the world impinging on the corporate sector in Sri Lanka and elsewhere in the world.

This national conference was introduced by the ICASL over three decades ago and has built up a reputation as an event that makes a significant contribution to new thinking and policy making in the country’s economic and financial fabric.

It is easily one of the most well attended corporate events in the country, attracting over 1,000 participants.

Ernst & Young Partner, ICASL Council Member and National Conference Committee Chairman Arjuna Herath commented: “We are gratified to see the increasing participation at the national conference with every passing year. The upcoming 32nd national conference has generated an overwhelming response even before we called for registrations. The conference has taken on the mantle of a business summit which touches on pressing economic and corporate issues, although the subject of finance remains the core area.

“Further, considering that the finance and accounting profession is viewed as a key business driver, many non-accounting personnel participate in the conference to be part of the deliberations to discuss and gain insight into how to address the challenges facing the corporate world. It is also significant that the national conference is attended by corporate heads and public sector policy makers, which enables some of the issues discussed at the event to be used as inputs in national policy making. We are honoured to make such a significant contribution to the financial and economic policies in the country.”

This event has also become a must-attend for members of the ICASL, who are motivated by the presence of distinguished speakers and panellists, as also by the opportunity to interact with corporate decision makers from various disciplines. The fact that the conference has broadened its scope from that of a pure chartered accountants’ conference to include broader economic issues has lent a sense of depth and relevance to this event, which attracts a growing number of participants each year. ICASL by itself has some 36,000 students and over 4,300 members.

Herath explains the reasoning behind selecting the theme, ‘Quest for Balance,’ for this year’s 32nd national conference.

“The world is going through a period of turmoil and volatility on both political and economic fronts. It is a complex environment that prevails with many conflicting objectives and goals that have to be reconciled, balanced, and managed in pursuing growth and development. Companies have to balance this complex macro scenario with conflicting issues within their organisations, driven by the agenda of different groups of stakeholders. Many a time, these conflicting goals pull the company in opposite directions, which requires organisations to strike an optimum balance in pursuit of long term sustainable growth.

“‘The need for dividends by shareholders versus the need for reinvestment of capital’; ‘Reduction of cost versus expanding operations’; and from a macro economic perspective, ‘Balancing interest rates against rising inflation’; and ‘Fiscal austerity versus monetary expansion’ are just a few indications.

“The quest for balance has become a significant pursuit for economies and organisations and we are hopeful that our conference will provide valuable insights to prepare corporate leaders and policy makers on how to usher balance into their worlds in pursuit of long term sustainable growth,” he explained.

More importantly, the 32nd national conference will feature speakers and panellists who best represent their respective conference topic.

 Therefore, the event will feature an interesting mix of reputed local and foreign speakers who will provide a comprehensive view of the ‘Quest for Balance’ in their respective fields of specialisation.

Moreover, the conference will be documented and summarised for access online via the ICASL’s virtual library. During the press conference, ICASL also launched a webpage on the conference – www.icasrilanka.com/nationalconference2011. The webpage facilitates viewers to pose queries relating to each session which will be directed to the respective paper presenter, adding greater interactively.

ICASL is the national body of Accountants incorporated by Act No. 23 of 1959. The Institute serves over 36,000 registered students and 4,300 members. The Institute is the first professional accountancy organisation to be incorporated under an Act of Parliament and is the sole authority of formulating Accounting and Auditing Standards in Sri Lanka.