The first group of Sri Lankan public sector accounting and auditing experts participated in Sri Lanka Public Sector Accounting Standards 11-20 through a training by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and its public sector wing, the Association of Public Finance Accountants of Sri Lanka (APFASL).

The U.S.

Government, through its development arm-- the U.S.

Agency for International Development (USAID)-- supported the training under its Partnership for Accelerating Results in Trade, National Expenditure, and Revenue (PARTNER) activity.The first 50 of an overall 600 public sector accounting professionals and auditors learnt more about the standards, which offer a structure for preparing and providing financial declarations under the accrual accounting system in line with global finest practices.

The partnership of USAID, CA Sri Lanka, and the APFASL will likewise train 1,200 public sector workers on the reliable application of IT systems for data management, analysis, and strategic decision-making.

As one of the nations longstanding development partners, we are committed to assist enhance and enhance Sri Lankas public financial management practices and thereby its path to recovery, USAID Sri Lanka and Maldives Mission Director Gabriel Grau said at the inaugural training.

Further strengthening abilities and competencies of crucial accounting and auditing professionals can help add to this long-lasting goal through improved monetary analysis, planning, and management .

In his opening remarks, Mr.

V.

Kanagasabapathy, President of APFASL, stated: Strong public monetary management is necessary to attain the long-term goals of any nation, for that reason, in our standing as the general public sector wing of CA Sri Lanka, APFASL has actually taken tremendous pride in being a catalyst in helping enhance the public monetary management practices in Sri Lanka.

We are thrilled that the U.S.

Government has actually acknowledged our important work and is supporting our efforts to help public sector accounting and auditing experts carry out much better.

Mr.

Heshana Kuruppu, CA Sri Lanka Vice President said, The public sector in Sri Lanka is thought about to be big in comparison to the size of our economy, using roughly 1.5 million people.

This sector likewise holds the key to helping change the lives of 22 million people.

Outstanding public monetary management will play an important function in achieving this important goal and enhance productivity of the sector.

As the national body of accounting professionals, CA Sri Lanka together with APFASL are devoted to assisting the public sector contribute successfully to the economy.

The launch of this landmark program with USAID belongs to our continuing efforts to achieve this crucial goal.

USAIDs PARTNER assists assist in trade and reinforce government efficiency to sustain broad-based financial development in assistance of the Government of Sri Lankas vision for financial advancement and enhanced international trade.

This project is one element of the longstanding collaboration in between the American and Sri Lankan people to promote a healthy, informed, and utilized population.

To discover more about USAIDs work, please see usaid.gov/ Sri-Lanka.-- U.S.

Embassy in Sri Lanka--