Visiting President of the International Federation of Accountants (IFAC), Ms. Olivia Kirtley, recently declared that as Sri Lanka becomes a more internationally integrated economy, the nation’s commitment to good governance is going to be essential to ensure Sri Lanka’s long term success.
Speaking at the CEO Forum organized by the Institute of Chartered Accountants of Sri Lanka, Ms. Kirtley noted that Sri Lanka is one of the fastest growing markets in the South Asian region, and in many aspects the economic outlook for Sri Lanka is very positive. “Yet challenges remain, and there is always more to do,” she said.
Delivering the keynote speech on “Strong Governance, Healthy Business,” Ms. Kirtley noted that taking Sri Lanka and its businesses to the next level is going to require a strong, decisive, and embedded governance culture.
“All organizations–large and small, public and private—must care about it,” she maintained.
Ms. Kirtley, while highlighting that the accountancy profession has long been an active advocate for good governance, outlined several important areas for stronger and more effective governance, among which she noted that executives as well as boards have critical roles to play in corporate governance reform.