IFAC President Commends CA Sri Lanka’s Leadership in Sustainable Finance 📈

• Overall Leadership: The International Federation of Accountants (IFAC) President, Jean Bouquot, lauded the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) for its proactive role in adopting global standards, positioning the nation as a model for corporate accountability. • Sustainability Reporting: Key focus was placed on the implementation of SLFRS S1 and S2 (adapted from IFRS Sustainability Disclosure Standards). This move is aimed at reducing regulatory fragmentation and enhancing Sri Lanka’s sustainable finance ecosystem. • Strategic Standards: A call to action was issued for the local profession to adopt the ISSA 5000 assurance standard to ensure high-quality, consistent sustainability disclosures and maintain market competitiveness against non-professionals. • Digital Transformation: The shift from "scorekeeping to strategy" via AI was highlighted. Professionals were urged to enhance digital literacy and address risks such as cybersecurity and bias to redefine the role of the accountancy sector in the digital age. • Partnerships: The 50-year partnership between CA Sri Lanka and IFAC remains a pillar for economic growth and ethical integrity, supported by collaborations with government and donor agencies to build expertise in both public and private sectors.