Ceremonial Induction of the 9th President of AAT Sri Lanka

The Association of Accounting Technicians of Sri Lanka (AAT Sri Lanka) inducted Mr. J.M.U.B. Jayasekera as the 9th President of the Association on 13th May 2016 at the Prof. Lakshman R Watawala Auditorium, AAT Centre, Colombo 5 at a ceremony attended by a distinguished audience comprising corporate leaders and elite professionals in Sri Lanka.

Mr. Jayasekera was ceremonially inducted in the presence of the Chief Guest Hon. PataliChampikaRanawaka, Minister of Megapolis and Western Development and Guest of Honour Mr. Lasantha Wickramasinghe, President – CA Sri Lanka.

Addressing the gathering, Hon. PataliChampikaRanawaka said that, “it is significant to mention that AAT Sri Lanka has been able to manage its own affairs on its own without any financial assistance from the government all these years. This can be considered as shouldering a great social responsibility at national level, on behalf of the Government, considering the economic impact, AAT Sri Lanka has made in accountancy education, and producing Accounting Technicians to the country”

Minister noted the fact, that he is aware that the Governing Council of AAT Sri Lanka has initiated action to have it incorporated by Act of Parliament and he has pledged support for this more and would continue to help the council to expedite the incorporation.

“Our Government is also planning to avail of the services of competent accounting technicians to the Public Service and Corporations. We also intend to establish an Accountancy Technicians Service in order to get the services of members of AAT Sri Lanka also into Public sector and Corporation services” he added.

Moreover, Minister Ranawaka stated that, “recently the ADB has granted 3 billion US Dollars financial assistance to Sri Lanka Government. Main part of this fund will be utilized for SME sector. I hope that the AAT Sri Lanka should be given a material financial assistance to developing special programs for SME.”

He also mentioned that, “the government intends to introduce a scholarship scheme to encourage students studying accounting courses such as AAT.”

“The government also supports creation of legal provision conducive to proper accounting and management of small and medium sized enterprises and establishment of a Small and Medium Size Enterprise Development Authority” he stated further.

Concluding his address, Minister congratulated and wished the new President Mr. J M U B Jayasekera and the Members of the Governing Council to continue their good work in order to lift the quality of life in Sri Lanka.

Mr. J.M.U.B. Jayasekera was the Vice President of AAT Sri Lanka prior to his elevation as the President of the association. He has been the secretary to the Governing Council of AAT Sri Lanka during the years 2008 to 2011. He has served the AAT council nearly 20 years from the inception. During this period he has served committees such as Finance & Administration Committee, Curriculum Development Committee and Best Annual Reports & Accounts Awards Committee.

During his address, Mr. Jayasekera highlighted about his Way Forward 2016/17 which was submitted by him to the new council and was approved. The Way Forward 2016/17 includes how the Association should be driven during this couple of years and Mr. Jayasekera explained them briefly to the gathering.

He mentioned that, currently AAT is enjoying the associate membership of International Federation of Accountants (IFAC) and it is expected to gain the full membership during the term while continuing the full membership of Confederation of Asian and Pacific Accountants (CAPA). The association is also working towards obtaining the membership of South Asian Federation of Accountants (SAFA) as well.

Another significant fact is that it is expected to complete the Incorporation of the Association by a Parliament Act. Special attention will also berendered for Member and Student development and welfare. The new president also mentioned the necessity of maintaining the links with AAT UK.

Mr. Jayasekera was involved with AAT Sri Lanka which has played a proactive role in strengthening the middle level segment of the Accounting profession in Sri Lanka, and during the past 28 years. AAT Sri Lanka has been a benchmark of excellence in the professional education sector, training and qualifying its members and students to be outstanding winners who are knowledgeable, capable and transparent in all that they do.

At present, with over 35,000 registered students and 4,500 professional members, AAT Sri Lanka has become one of the leading educational bodies in the region that has consistently produced a large number of accounting professionals, much needed to a growing economy.