SAFA to assist Maldives to set up professional accounting body
Friday, 6 February 2015 00:28
CMA Sri Lanka President and the Chairman of the International Relations Committee of the South Asian Federation of Accountants (SAFA) Prof. Lakshman R. Watawala with Maldives Auditor General Hassan Ziyath
Prof. Lakshman R. Watawala, President of CMA Sri Lanka and the Chairman of the International Relations Committee of the South Asian Federation of Accountants (SAFA) was in Maldives recently where he held a meeting with the country’s Auditor General Hassan Ziyath and presented him with the draft constitution to set up a professional accounting body there.
This will enable the Maldives to set up the professional accounting body and join the South Asian Federation of Accountants as a member body. The SAFA draft constitution will assist the Maldives in setting up the professional accounting body through an Act of Parliament.
It will also enable the Maldives to strengthen the accounting and auditing profession serving the public and private sectors with assistance from SAFA member countries.
Discussions were held with the Auditor General’s staff, audit firms registered as ‘A’ grade auditors and CPA Maldives. The final constitution will be sent to the Legal Draftsman’s Department before being submitted for incorporation by Parliament.
Currently the SAFA Presidency is held by Sri Lanka and headed by CA Sri Lanka President Arjuna Herath and has the accounting bodies of India, Pakistan, Sri Lanka, Bangladesh and Nepal, comprising nine in all.
Sri Lanka has two members - CA Sri Lanka and CMA Sri Lanka. Sri Lanka will also be actively involved in assisting the Maldives in setting up the professional accounting body and providing technical assistance in association with SAFA.