CIPFA to work with Sri Lankato transform support for public sector accountants
The Chartered Institute of Public Finance and Accountancy (CIPFA) and the Institute of Chartered Accountants of Sri Lanka (ICASL) have agreed to work together to transform the support available to Sri Lankan public finance professionals.
A memorandum of understanding was signed at the International Federation of Accountants Annual Council Meeting in Berlin. The memorandum agrees a partnership to develop joint qualification and membership arrangements.
The partnership aims to serve the needs of Public Financial Management (PFM) professionals and others working in the Sri Lankan public sector, and to collaborate to strengthen the relationship between the two bodies.
This agreement supports the recent launch of CIPFA's international prospectus, Fixing the Foundations, which aims to bring international public sector bodies together to restore confidence in countries' management of public finances and to improve standards.
Chris Bilsland, President of CIPFA, commented,
“This memorandum of understanding is a brilliant example of the international desire for effective public financial management and recognition of the benefits that it can bring. CIPFA is delighted to be helping Sri Lankan professionals with their capacity building efforts and we feel that this developing relationship will be mutually beneficial.”
Sujeewa Mudalige, President of ICASL, said,
“We welcome this agreement for the benefits that it will bring our members and we look forward to developing stronger ties with CIPFA in the future.
“CIPFA's expertise and international track record in this area will put Sri Lanka at the forefront of public financial management best practice.”