ISSN: 1391 - 0531
Sunday, January 21, 2007
Vol. 41 - No 34
Financial Times  

Responsibility of a professional - Letter

The COPE report says the BOI failed to perform its duties and obligations and as a result adversely affected the economy of the country. The COPE accused the Chairman of misrepresenting facts to parliament and misleading Members of Parliament.

The Sunday Times report of January 14 says the Chairman publicly apologized for making false representations to Parliament. Shocking is not the word? The Chairman is supposed to be a respected Chartered Accountant and a FCMA. He has put the institute to disrepute by doing this.

As accountants we expect professionalism and integrity from our senior members. How sad? We often see the Chairman and the Minister’s smiling faces with investors in the papers.

Then frequent statements in the newspapers say how they have mobilized millions of dollars. Now, we know that those figures are all bunkum and projected to mislead everyone. In fact COPE concluded by saying that the BOI is managed poorly and thoroughly disorganized.

The BOI success ratio is currently a mere 26% and as a newspaper observed the BOI does not need plush offices or degree holders to achieve the current levels of performance. Companies pledge often millions of US dollars. But do we have competent officials to tell these investors how to utilize these funds, to develop our country? Therefore the public service needs to simplify and streamline some of the procedures while ensuring transparency if we are to experience rapid development. Finally we expect professionals in key positions to uphold the traditions of the institutes and schools they come from. If the professionals resort to this kind of behaviour for the sake of political power there is no hope for this country.

A Chartered Management Accountant

Top to the page

Copyright 2007 Wijeya Newspapers Ltd.Colombo. Sri Lanka.