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Sunday, 11 January 2009





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ICASL to open four branches

The Institute of Chartered Accountants of Sri Lanka (ICASL) the National Professional Accounting body of Sri Lanka will open four branches in the near future.

The branches known as knowledge centres will be opened in Batticaloa, Jaffna, Badulla and Ratnapura to serve its students and members more efficiently.

The Institute has over 3500 members and over 29500 registered students and there has been a significant growth in registrations in the year 2008. Special scholarships are awarded for the top 10 island rankers at the GCE A/L examination in each of the 4 streams and also based on merit and income levels of the students.

CEO Aruna Alwis President Nishan Fernando

Exemptions are also offered for CIMA, ACCA, AAT, CMA, HNDA and degree holders of Management, Commerce and Accounting at different levels. The students also are benefited by the consultancy and counselling services of the Institute through which they could seek guidance and assistance.

The ICASL, which is the sole authority in setting up Accounting and Auditing Standards in Sri Lanka and the application of such standards is mandatory for all companies listed on the Colombo Stock Exchange.

The Institute is a member of the International Federation of Accountants (IFAC), The Confederation of Asian and Pacific Accountants (CAPA) and a Founder member of the South Asian Federation of the Accountants (SAFA).

The designation of a Chartered Accountant is a hallmark of a professional with high competence. It specifies accuracy in depth and quality of accountancy knowledge, developing life-long learning experience for members and meeting their needs in a changing world.

The students face the core examinations comprising Foundation, Intermediate, Final I and Final II. These exams are conducted at four national exam centres at Kandy, Galle, Anuradhapura and Colombo.

Education, training, technical support and advocacy are provided as core services for members who are regulated by a Code of Professional Conduct and Ethics specified by the Council.

One of the key tasks of the ICASL is the implementation of the Sri Lanka Accounting and Auditing Standards to be on par with the international trends. The relevant International Standards are being adopted after carrying out a thorough Due Review Process.

The Institute works closely with national and international stakeholders. Its global presence continues to grow in terms of representation of international bodies. The Institute is a member of the global organisation for the accountancy profession, the International Federation of Accountants (IFAC), where two ICASL members serve as committee members in two Committees.

It holds the membership at the Confederation of Asian and Pacific Accountants (CAPA). ICASL is also a founder member of the South Asian Federation of Accountants (SAFA) and also bestowed with the honour of nominating the chairman of the Accounting and Auditing Standard committee of SAFA.

As the premier national accounting body, the ICASL leads the profession by delivering visionary leadership projects, setting the benchmark for the highest ethical, professional and educational standards. Building on the corporate plan, the ICASL focuses on ensuring a higher level of professional competence among the membership and those aspiring to become members while maintaining integrity among the membership, thus contributing to the national development in a significant manner.



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