CASL, ICTA and SLASSCOM to launch FAO qualification
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka),
the Information and Communication Technology Agency of Sri Lanka (ICTA)
and the Sri Lanka Association of Software and Service Companies
(SLASSCOM) have teamed up to offer a professional qualification for the
Financial Accounting Outsourcing (FAO) sector.
The qualification which is due to be launched this year, comes at a
time when Sri Lanka is aspiring to become the Business Process
Outsourcing Hub in the world.
The preliminary work has been completed.
This Business Services Accounting qualification is expected to give
the FAO sector a tremendous boost by fulfilling an important need which
will produce highly skillful professionals who will steer the FAO sector
in Sri Lanka.
President, CA Sri Lanka, Arjuna Herath said Sri Lanka produces
accountants of exceptional ability of international standing having the
capacity to serve not only the domestic market but international markets
"This is one of the key attributes as to why our country is a
preferred destination for the BPO industry.
CA Sri Lanka has embarked on a journey with the participation of the
industry body SLASSCOM and the government policy making arm in this area
ICTA, to create professionals with the right skills and knowledge
specifically needed for this industry," he said.
Chief Executive Officer, ICTA, Reshan Dewapura said, "In the journey
to become the knowledge hub of Asia, accreditation of the labour force
in specific skills is imperative. Sri Lanka as a Centre of Excellence
for FAO no doubt will greatly benefit from this step taken in the right
Executive Director, SLASSCOM, Imran Furkan said, "Sri Lanka's
financial accounting outsourcing sector is poised for spectacular growth
due to a unique combination of skills of international standard
prevalent in the country.
This qualification will contribute to further raising the bar in
terms of quality and quantity of the workforce pool available to absorb
the new business volumes that are expected to come Sri Lanka's way
Amidst globalisation and technological advancement, Business Services
as a domain has grown across the globe, with developing countries
largely benefiting from the emergence of such services. Today, India is
the leading global destination for Business Services with a significant
number of Fortune 500 companies being present across India.
Over the past five years, Sri Lanka has also witnessed mega growth in
the Business Services sector with leading Sri Lankan companies setting
up finance and accounting services, while foreign companies have also
extended their off-shore global operations to Colombo.