E-news Bulletin
September 2010
This issue -
Cover Story I September 2010 in Retrospect I Glimpse of October 2010
I Announcements I New Training Partners I Stay Connected I
Key Contacts at ICA Sri Lanka I New Staff Appointments
Most sought-after professionals globally…
September 2010 in Retrospect…
The new office premises The institute commenced work on this above project following approval by the council. The Rs. 250 mn project was initiated with a view to provide enhanced facilities and support services to our students and members and a better working environment to the administrative staff. Established in 1959, the existing office premises is in a condition where refurbishment is inevitable and it offers limited capacity to accommodate the growth needs of the institute.
This investment is expected to accommodate a higher level of activities and increase revenue streams, from our core functional area as well as to provide additional space to the Business School and Multimedia English Language Centre. In light of the new demands of our current and potential students/members; and increased competitive pressures, this project is also viewed as a part of ICASL’s brand building exercise which will exhibit our strengths and affirm the Institute pre-eminent position. The construction of the new multi-storeyed office premises will commence by end of 2010, which includes state-of-the-art lecture rooms, members’ lounge, additional space for the business school, IT training facility, administrative office and parking area. The project is expected to be completed by end 2012.
Cover Story This month’s cover features Ms. M A H R Hassan who was recognised at this year’s ICASL convocation for winning First in Order of Merit at Final Part 1 (Dec 2009)and the subject prize for Management Accounting at the 2009 Dec examination. 8 other prizewinners who won prizes at the 2009 examinations were also recognized at the ceremony. This year’s ICASL convocation was held on 24th September at Waters Edge, Battaramulla. The Chief Guest at the ceremony was Hon. Minister of Cooperatives and Internal Trade, Mr. Johnston Fernando while the Guest of Honour was the Managing Director / Chief Executive Officer of Hatton National Bank PLC, Mr. Rajendra Theagarajah (FCA). The convocation ceremony is the most looked forward to event in the academic calendar of the Institute and is also an unforgettable event for those who graduate as they celebrate the achievement of a well earned qualification. 247 graduates who had completed the Chartered Accountancy qualification were awarded the Associate certificates joining a fraternity of over 4000 Chartered Accountants; and 20 senior members advanced to fellowship status. You may find more highlights of the ceremony as you scroll down in the newsletter.
Refurbishment of the Auditorium The refurbishment of the ICA Sri Lanka auditorium is now underway. It will be reopened by end September. Under this project, the auditorium lobby, student canteen, washrooms and other service areas will be renovated meeting a long standing need.
Orientation Seminar for New Members
ICA Sri Lanka Foundation In order to assist needy students, the council approved the establishment of the ICASL Foundation. The purpose of the foundation is to identify students requiring assistance and help them by way of financial assistance such as grants, donations, disbursements, purchase of study materials, waiver of examination/ tuition fees, sponsorships, payment of monthly allowances, and any other activities aimed towards promoting the study of the subjects in the fields of accountancy and audit; and securing general well being of registered students of ICASL.
The Members Division organized an orientation programme for new members on 11th September at Ceylon Continental hotel. It was found to be an interesting session which enlightened the participants on areas such as Professional Ethics and Core Disciplines; Continuous Professional Development (CPD) etc. Personal development through effective communication and; table and social etiquettes were also part of the agenda. Mr. Sujeewa Mudalige, President; Mr. Lal Nanayakkara, Past President; Mr Ranel T Wijesinha, Past President; Mr Channa Manoharan, Member of Council and Chairman - CPD Committee; and Mr Darshana Welikala, Advance Toastmaster & Past Governor of Toastmasters for Sri Lanka were associated as resource personnel.
“I wish to convey my warmest congratulations to the new graduates who have reached the fruition of their tireless effort to educate themselves and the rigorous training that they have undergone to reach where they are today. I also congratulate the new members who are joining an elite fraternity as Chartered Accountants; and the new Fellows who have reached the highest echelon of the institute’s membership. May I request that you continue to uphold the values, traditions and professional standards bestowed upon you by The Institute; and I urge you all to be the catalysts in rebuilding of our nation.” - Johnston Fernando Cabinet Minister of Cooperatives and Internal Trade
Special Offer for AAT Passed Finalists ICASL announced a special offer to all the passed finalists of the Association of Accounting Technicians(AAT) of Sri Lanka - the sister institute of ICASL. Accordingly those who have completed the AAT Final Examination held in June 2010 will be considered registered students of ICASL and will enrolle FREE of charge. Further, they will be entitled to a 50% waiver off from the exemption fee. Therefore the payment required will only be Rs. 2,800 being Certificate in Business and Accounting II (CAB – II ) level study pack; Rs. 1,100 being annul subscription (totaling a remittance of Rs. 3,900 to payment code - RE01); and Rs. 1,375 being 50% exemption fee ( a remittance of Rs. 1,375 to payment code – RE03). The payments can be made to any Bank of Ceylon branch. Those who wish to subscribe for this offer are requested to submit their application forms along with the ICASL copy of the bank deposit and a certified copy of your AAT Final Examination Certificate on or before 31 December 2010 to; Manager – Student Services The Institute Of Chartered Accountants of Sri Lanka 30 A, Malalasekera Mw Colombo-07 Those who have not completed the Business Communication II Paper at the AAT Final Examination, you will be required to sit for Business English I Paper at CAB I Examination of ICASL. Students are requested to contact ICASL on 011 2 352000, Mr. Aruna Dayananda – Ext: 240; Mr. Asela Piyathilake or Mr. M. Farzan – Ext: 241; or Ms. Tharangi Edirisinghe - Ext: 242 for any clarification in this regard.
The committee appointed by the council include Mr. B.R.L. Fernando(Chairman of the Foundation and Chairman of CIC); Mr. Ranjit Page (CEO/Deputy Chairman – Cargills Ceylon PLC); Ms. Lakmali Nanayakkara (Partner - Ernst & Young); Mr. Asoka Pieris ( CEO – Singer Sri Lanka); Mr. Asoka Jayasinghe (Senior Partner - Jayasinghe & Co.); and Ms. Marina Tharmaratnam (former CEO – Union Assurance PLC). Ex-officio members are the President, Vice President and Chairman – Training Committee.
From the President’s desk… “I imagine there will be few times in your lives when you will be surrounded by so many people who care so much about you - your family and friends, faculty and staff who taught and worked with you. A few words to all our new associate members of the institute. Today we celebrate what you have achieved in completing an extremely demanding, rigorous and a tough professional program. We recognize the sacrifices you and your families have made to make your achievement possible, and we anticipate your future success as you begin the next phase of your personal and professional lives. The Institute has many strengths built up over time - its heritage; its contribution to the development of the modern profession; the intellectual rigor it brings to the table and, perhaps most importantly, its members.
We must be prepared to use these strengths, to tackle the challenges that we face. We must also be prepared to adapt if we are to remain fit for purpose. How we respond will determine how we evolve both as a profession & a professional body. I can still remember very clearly why I decided to train as a Chartered Accountant. It was because I believed that the profession represented the best possible start to a business career. It had the most challenging training and a very well structured examination process and twenty years later I now know this to be the case. Our Institute is today, I believe, is an influential body of accountants. And that influence stretches far beyond our members in accountancy practice. It's worth remembering that nearly eighty percent of our members now work outside traditional accountancy practices in every conceivable type of business and industry. No other profession has the insight that we have in to the factors which affect the business organisations and the performance of the economy. Our qualification attracts the best and the brightest, and must continue to do so. This year alone we will be registering a large number of new students. Our training is one of the ingredients that differentiate us from the rest. We have in excess of 900 business organisations as training partners where there are Chartered Accountants to supervise the training of our students. This is a unique training model which we are extremely proud of.” Mr. Sujeewa Mudalige
President, ICASL
At the ICASL Convocation - 24th September 2010 at Waters Edge
Glimpse of October 2010
Registrations for ICASL Gavel Club With a view to assist our students to sharpen their communication and leadership skills, a Gavel Club has been formed following the Council approval and will be administered under the auspices of the ICASL Toastmasters Club. This opportunity will be opened to all strategic level students of the institute. The Club will asquint you to the Toastmaster model, where you will be practicing various communication and leadership modules which are essential for your future career as a Chartered Accountant. All meetings will follow Toastmaster guidelines and practice and will be held at The Institute. There will be no enrolment fee or subscription, hence membership will be strictly on "first come, first served " basis. To join the Gavel Club, please send the following information to the Manager – Training, [email protected] Student Name : ICASL registration no : Examinations passed upto: Place of Training / Work: Willing to serve as Club Officer: Yes/No When:
“Today this country has a national plan. We have seen opening of new markets for business after three decades, investments in infrastructure on a scale never seen before, a thriving domestic stock market and most recently external recognition in the form of a sovereign rating upgrade. Sri Lanka today is on the threshold of an exciting journey ahead. As Chartered Accountants, there is much that you can do in bringing a fresh lease of life to business in both the private and public sectors – the economic and development potential of our country is only limited by your visions and dreams for the future.” Mr. Rajendra Theagarajah Managing Director / Chief Executive Officer Hatton National Bank PLC
Announcements
Training and Studies departments and the library of ICA Sri Lanka will be shifted temporarily to AAT building, Narahenpita by Oct/Nov 2010 to facilitate construction of the new building.
Intermediate Level Certificate Award Ceremony will be held on 2nd November, 2010 at ICASL auditorium at 3.30 pm. For more information contact the training division
Orientation Programme for New Trainees will be held on 25th October, 2010 at ICASL auditorium at 2.30 pm. For more information contact the training division
Case Study Workshops leading to December 2010 examination. Workshops will commence in October 2010. The timetable will be available in the ICASL web site very soon. Please contact the education division for further information.
The Education Division of the Institute of Chartered Accountants of Sri Lanka is organizing a special seminar series for the students who intend sitting for the December 2010 Strategic level I & II examinations under the new syllabus. This programme will focus on exam preparation, study methods, writing answers, time management etc and is highly recommended for the intended students. Closing date for registrations is 31st October. Please contact the education division on 2352000 Ext: 217 or email to [email protected]; [email protected]; [email protected] for further information.
ICASL Fees Revision for the Year 2011
Student Registration Rs. New Student Registration 1,300 Student Guide 200 Duplicate Identity Card 500 Renewal Normal 1,200 Late 2,000 Exemption CAB I 1,000 per subject CAB 2 1,250 per subject CIMA 30,000 +Case study (Current Examination ACCA 30,000 +(Current Examination fees Study Packs CAB I 750 per book CAB II 600 per book Strategic level 1 1,200 per book Strategic level 11 1,800 per book Pilot papers 150 per book Multimedia Learning Guide for all three subjects in Certificate level 1
200 per book
Glossary of accounting Terms 500 per book Printed copy of the Syllabus 2010 400 per book Training Intermediate Certificates 3,600 Approved Training Org. –/ CAB Level 8,250 Approved Training Org. –Strategic Level 16,000 Training Agreement Fee - for one level 1,200 Training Agreement Fee - for both levels 1,500 Training Record Book 700 Registration for electronic submission of records 400
Communication Workshop – 2 days 3,000 Diploma in Accounting and Business 5,000 Examination CAB I – 3 or 4 subjects 3,000 CAB I – 1 or 2 subjects 1,000 per paper CAB II 1,250 per paper Strategic level I 2,000 per paper Strategic level II 3,000 per paper
Case Study 4,000 per paper Members
Enrollment Fees 12,000 Resident Members
Associate 8,500 Fellows 11,000
Resident Abroad Associate USD 80 Fellows USD 90
Election to Fellowship 16,000 Certificate to Practice 12,000 Restoration Fee 5,000 IT CAB - Course 4,000 CAB - Test Only 1,60 Strategic Level I 2,700 Strategic Level II 2,700 MYOB & Quickbook 4,500 One Day Workshop(CRM , BI) 7,500 Two Day workshop (ERP,MS Office) 12,000 Diploma in ISSCA 40,000 Diploma in ISSCA-Postpone 3,000 Diploma in ISSCA-Test repeat once 4,400 Diploma in ISSCA-Test repeat twice 5,500 Business School DBFA 110,000 EDFA 75,000 MBA - Members 17,500 MBA – Non Members 20,000 MELC Communication Skills Course 8,800 IELTS- Members & Students 8,500 IELTS-Non ICASL 9,500 Tax Faculty Certificate Course in Taxation Final Level Students/AAT Members 16,500 Members of ICASL 17,500 Non Members 18,500 Taxation Course for Professionals & Practitioners Students of ICASL 10,000 Members of ICASL 15,000 Non Members 16,500
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2011 Examination Timetable 1st Examination – Certificate Level II and I Examinations (March 1st and 2nd weekends)
Date of Calling Applications: Thursday, 4th November 2010 Closing Date of Applications: Friday, 17th December 2010 Late Applications (Accepted Only With an Additional Fee): Monday, 27th December 2010 Examination Dates: Certificate Level II Saturday, 5th March, 2011
Sunday, 6th March, 2011 Sunday, 13th March, 2011 Certificate Level I Saturday, 12th March, 2011 Sunday, 13th March, 2011
Examination Results: End May 2011
2nd Examination – Strategic Level I and II Examinations (June 2nd and 3rd weekends)
Date of Calling Applications: Friday, 11th March 2011 Closing Date of Applications: Tuesday, 19th April 2011 Late Applications (Accepted Only With an Additional Fee): Monday, 25th April 2011 Examination Dates: Saturday, 11th June 2011 Sunday, 12h June 2011 Saturday, 18th June 2011 Sunday, 19th June, 2011 Examination Results: End August 2011
Business English II Paper
Date of Calling Applications: Friday, 27h May 2011 Closing Date of Applications: Friday, 24th June 2011 Examination Dates: Wednesday, 13th July 2011 Examination Results: End August 2011
3rd Examination – Certificate Level II and I Examinations (September 3rd and 4th weekends)
Date of Calling Applications: Friday, 29h April 2011 Closing Date of Applications: Friday, 1st July 2011 Late Applications (Accepted Only With an Additional Fee): Monday, 11th July 2011 Examination Dates: Certificate Level II Saturday, 17th September 2011 Sunday, 18h September 2011 Sunday, 25h September 2011
New Training Partners
I. The Council approved the following Organizations as approved training organizations at Certificate Level
i. CDS Business Auditors ii. A B Associates iii. Sadaharitha Plantation Ltd.
II. The Council approved the following Organizations as approved training organization at Strategic Level
i. K A L Rupasinghe & Co. ii. Laugfs Holdings Ltd. & its following Subsidiary Companies - Laugfs Gas, Laugfs Lubricants,
Laugfs Petroleum, Laugfs Corporation Rubber and Laugfs Sunup Supermarkets
Certificate Level I Saturday, 24th September 2011 Sunday, 25th September 2011 Examination Results: End November 2011
4th Examination – Strategic Level I and II Examinations (December 4th week)
Date of Calling Applications: Friday, 9th September 2011 Closing Date of Applications: Friday, 21st October 2011 Late Applications (Accepted Only With an Additional Fee): Monday, 31st October 2011 Examination Dates: Tuesday, 27th December 2011
Wednesday, 28th December 2011
Thursday, 29th December 2011 Friday, 30th December 2011
Examination Results: End February 2012
Business English II Paper
Date of Calling Applications: Monday, 14th November 2011 Closing Date of Applications: Friday, 9th December 2011 Examination Dates: Wednesday, 28th December 2011 Examination Results: End February 2012
SPACE AVAILABLE FOR
ADVERTISEMENTS The ICA newsletter will be opened for advertising from October 2010 issue. The rates are as follows –
Rs. 15,000 per full page in members’ newsletter Rs. 10,000 per full page in students’ newsletter Rs. 20,000 per full page in both the newsletters
For more details, contact Wayomi on 011 2352000 ext: 246 or email [email protected]
Stay Connected… Forward this newsletter to your fellow ICA student members who wish to register for the newsletter. Those who wish to subscribe for the newsletter may complete the attached registration form and send it to [email protected]
Manager - Administration and HR Librarian Mr. S. M. Sanjaya Senaratne Mr. Sarath Nanda Kumara
Tel : + 94 (0)11 2352061 / + 94 (0)11 2352000 - Ext 361 Tel : + 94 (0)11 2352065 / + 94 (0)11 2352000 - Ext 365 Fax : + 94 (0)11 2352060 Fax : + 94 (0)11 2352060 Email: [email protected]
Secretary / CEO Mr. Aruna Alwis Tel : + 94 (0)11 2352001 / + 94 (0)11 2559174 / + 94 (0)11 2352001 - Ext 301 Fax : + 94 (0)11 2508749 Email: [email protected]
Director - Projects Director - Examinations Mr. Sunil Karunanayake (FCA) Mr. W. W. Wijeratne
Tel : + 94 (0)11 2352025 / + 94 (0)11 2352000 - Ext 325 Tel : + 94 (0)11 2352035 / + 94 (0)11 2352000 - Ext 335 Fax : + 94 (0)11 2508749 Fax : + 94 (0)11 2508749 Email: [email protected] Emial: [email protected]
Accountant Chief Information Officer Ms. Dinushini Keppetigoda Mr. Gayan Wickramasinghe Tel : + 94 (0)11 2352040 / + 94 (0)11 2352000 - Ext 348 Tel : + 94 (0)11 2352050 / + 94 (0)11 2352000 - Ext 350 Fax : + 94 (0)11 2508749 Fax : + 94 (0)11 2508749 Email: [email protected] Email: [email protected]
Head of Education & Training Head of Technical Ms. Nilushi Dissanayake (ACA) Ms. Chamila Cooray (FCA) Tel : + 94 (0)11 2352015 / + 94 (0)11 2352000 - Ext 315 Tel : + 94 (0)11 2352006 / + 94 (0)11 2352000 - Ext 306 Fax : + 94 (0)11 2508749 Fax : + 94 (0)11 2508749 Email:[email protected] Email: [email protected] Head of Business School - Operations Manager - IT Training Ms. Nilukshi Thambimuttu (ACA) Ms. Nilmini Jayasooriya Tel : + 94 (0)11 2352045 / + 94 (0)11 2352000 - Ext 345 Tel : + 94 (0)11 2508348 / + 94 (0)11 2352000 - Ext 355 Fax : + 94 (0)11 2508749 Fax : + 94 (0)11 2508749 Email: [email protected] Email: [email protected]@icasrilanka.com
Manager - Brand & Corporate Communication Manager - Multimedia English Language Center Mr. Lasantha Amarakoon Ms. Achala Kodikara
Tel : + 94 (0)11 2352070 / + 94 (0)11 2352000 - Ext 370 Tel : + 94 (0)11 2352075 / + 94 (0)11 2352000 - Ext 375 Fax : + 94 (0)11 2508749 Fax : + 94 (0)11 2508749 Email: [email protected] Email: [email protected]
Manager – CPD & Taxation Manager – Student Services Ms. Priyadarshini Dharmasena (ACA) Ms. Sujeewa Munidasa
Tel : + 94 (0)11 2352027 / + 94 (0)11 2352000 - Ext 337 Tel : + 94 (0)11 2352020 / + 94 (0)11 2352000 - Ext 320 Fax : + 94 (0)11 2508749 Fax : + 94 (0)11 2508749 Email: [email protected] Email: [email protected] Manager - Administration and HR Librarian Mr. S. M. Sanjaya Senaratne Mr. Sarath Nanda Kumara
Tel : + 94 (0)11 2352061 / + 94 (0)11 2352000 - Ext 361 Tel : + 94 (0)11 2352065 / + 94 (0)11 2352000 - Ext 365 Fax : + 94 (0)11 2352060 Fax : + 94 (0)11 2352060
Key Contacts
Send in your comments about the newsletter to; Lasantha : [email protected] Wayomi : [email protected]
Mr. Sanjaya Senaratne - Manager - Administration and HR Ms. Muditha Hiranthi Wijetunge ACA - Technical Manager Mr. Sarath Nanda Kumara – Librarian
New Staff Appointments
