The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Business Recovery and Insolvency Practitioners’ Association of Sri Lanka (BRIPASL) has joined hands to help build capacity for corporate insolvency services within the country.
A Memorandum of Understanding (MoU) signed recently by CA Sri Lanka President Lasantha Wickremasinghe and BRIPASL Chairman Dr. J.M. Swaminathan, allows both organisations to work together to establish a framework for mutual assistance in building capacity for corporate insolvency services within the country and to facilitate the exchange of information between both parties.
The agreement will allow both bodies to come together to collaborate to build an enabling environment in order to facilitate improvements in dealing with corporate insolvency related matters. The MoU also allows both CA Sri Lanka and BRIPASL to conduct awareness and knowledge enhancing sessions on this subject. As per the agreement, BRIPASL will also provide resource personnel for seminars organised by CA Sri Lanka. The association will also provide technical assistance and guidance in syllabus and study texts development as well as in the examination process of the institute in relation to the certification of Insolvency Practitioners.
The agreement also provides a link between CA Sri Lanka and the International Association of Restructuring, Insolvency and Bankruptcy Professionals (INSOL).