CASL teams up with Malaysian Directors Academy
Corporate Directors program launched:
The Institute of Chartered Accountants of Sri Lanka (CASL) recently
signed a Memorandum of Understanding (MoU) with the Malaysian Directors
Academy (MINDA) to develop a framework which will facilitate the
exchange of information and enhance the effectiveness of the Board and
Chief Executive Officer, CASL, Aruna Alwis exchanges the MoU
Director, MINDA, Dato’ Abdul Aziz Abu Bakar.
The agreement signed by President, CASL, Lasantha Wickremasinghe and
Executive Director, MINDA, Dato' Abdul Aziz Abu Bakar, in Kuala Lumpur,
Malaysia, aims to set up a framework for mutual assistance and to
facilitate the exchanging of information between the two organizations.
Wickremasinghe said that CASL has taken several initiatives to
enhance corporate governance in the country, and the agreement with
MINDA will complement this effort further.
"This agreement will help us share important resources which will
help further strengthen the corporates, including the Boards and its
directors, thereby enhancing their standing as well as knowledge, and
help them remain progressive," he said.
Wickremasinghe said the institute also launched the Corporate
Directors Program, a joint initiative between CASL and the Securities
and Exchange Commission as well as issuing the Code of Best Practice in
Corporate Governance for the benefit of corporates, in the institute's
continuing efforts to strengthen corporate governance.
"The agreement with MINDA will pave the way to further strengthen our
profession as well as the Boards and directors who operate in Sri Lanka
as well as in Malaysia," Wickremasinghe added. Chairman of the CASL
Corporate Governance and Directors Training Committee, Asite Talwatte
said that the agreement will further boost the work the institute has
been carrying out.
"The agreement between CA Sri Lanka and MINDA, will definitely add to
the work we have been doing to enhance corporate governance in Sri
Lanka, and will undoubtedly benefit the corporates, including the Boards
and Directors who function in both countries," he said.
Chief Executive Officer of CA Sri Lanka, Aruna Alwis said that the
institute has tied up with leading accounting and non-accounting
organizations in its efforts to offer professionals the best of
qualifications and recognition.
The MoU will also pave the way for the exchange of information in the
corporate governance landscape in pursuit of enhancing the Board and the
Among the initiatives to be explored under the MoU is the joint
promotions of professional learning and development programs, joint
research and advocacy work on board effectiveness best practices,
directors sourcing and board placement, board and director effectiveness
assessments, among others.