The South Asian regional seminar series on ‘Enhancing Public Financial Reporting to Promote Growth in South Asia’ will be held under the patronage of Finance Minister Ravi Karunanayake in Colombo today.
The high profile event which has been organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), South Asian Federation of Accountants (SAFA) and World Bank and sponsored by the Asian Development Bank will bring together policy makers, regulators, professional accountancy organizations, think tanks, preparers and users of financial statements, public auditors, academia and other relevant stakeholders from across South Asia to stimulate thinking on how the region can move financial reporting practices to the next level.
The event will also see the participation of World Bank Country Director Idah Z. Pswarayl-Riddihough and ADB Country Director Sri Widowati.
The Guests of Honour at the event will be Dr. R.H.S. Samarathunga, Secretary to the Treasury and the Ministry of Finance and Dr. Indrajit Coomaraswamy, Governor of the Central Bank of Sri Lanka.
The two-day event will focus on the implementation of International Public Sector Accounting Standards (IPSAS) and the path to accrual accounting. The aim of the conference is to create awareness on the usefulness of high quality financial reporting for decision-making and promote peer to peer learning for moving towards transparent and comparable financial reporting for enhanced governance and effective fiscal management of South Asian countries.