The Institute of Chartered Accountants of Sri Lanka (ICASL), in
a bid to ensure financial statements and reports are a fair representation
of the financial position and performance of companies, said it
was launching a Financial Reporting Faculty.
is to serve as a forum for all concerned with financial reporting
and to provide the necessary services, guidelines, research materials
and training needed to enhance the quality of financial reporting
in Sri Lanka's corporate sector, the institute said.
Faculty would reflect authoritatively the views and interests of
the members on financial reporting matters with the government,
Dept of Inland Revenue, Registrar of Companies and Statutory Accounting
Standards Committee, as well as with global institutions like the
World Bank, IMF and ADB," it said.