APFASL holds 14th AGM; Dilrukshi assumes office as President

Monday, 20 April 2026 04:16 - - {{hitsCtrl.values.hits}}

The Association of Public Finance Accountants of Sri Lanka successfully held its 14th Annual General Meeting (AGM) on 31st March 2026 at the Auditorium of the Institute of Chartered Accountants of Sri Lanka, with the participation of over 100 APFA and CPFA members.

The event was graced by several distinguished dignitaries associated with APFASL, including outgoing President V. Kanagasabapathy, incumbent President K. V. C. Dilrukshi, CA Sri Lanka President Tishan Subasinghe, Vice President Anoji De Silva, Chief Executive Officer Lakmali Priyangika, and Secretary Dr. Asela Athapathu.

The AGM was duly convened with proper notice and quorum, and proceedings commenced with the adoption of the minutes of the 13th AGM. The Chairman’s statement and the address by the President of CA Sri Lanka highlighted the continued collaboration between APFASL and CA Sri Lanka in strengthening public financial management practices in Sri Lanka.

Members reviewed and unanimously adopted the Audited Financial Statements for the year ended 31 December 2025. The Association reported a surplus, however reflected a decrease compared to the previous year primarily due to increased administrative expenditure and lower finance income, yet the Association maintained strong financial stability. Total assets increased, supported largely by fixed deposit investments, while liquidity improved with higher cash balances. The appointment of the external auditor for the ensuing year was also approved, continuing the existing arrangement with CA Sri Lanka.

A key highlight of the AGM was the formal induction of K.V.C. Dilrukshi as the new President of APFASL during the course of the event. Dilrukshi, a Fellow Chartered Accountant and a senior member of the Sri Lanka Accountants’ Service, currently serves as Director at the Department of Public Enterprises, General Treasury. She brings over 20 years of experience in public sector financial management, governance, and oversight. She succeeds V. Kanagasabapathy, who was commended for his 14 years of dedicated service to the Association and his significant contributions to the advancement of public finance accounting in Sri Lanka. A memento was presented in recognition of his longstanding commitment.

The AGM reaffirmed APFASL’s continued commitment to strengthening public financial management in Sri Lanka, including efforts towards transitioning to accrual-based accounting in line with international standards. Following the AGM, a technical session on “The Accrual Transition in the Public Sector: Current Status and the Way Forward” was delivered by Kanagasabapathy, highlighting the phased implementation approach guided by international standards and the challenges and progress in the Sri Lankan context.