In a ground-breaking initiative aimed at combatting fraud and corruption, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) joined hands with the US-based Association of Certified Fraud Examiners (ACFE) to launch an exclusive global credential for finance professionals in Sri Lanka.
The Certified Fraud Examiner qualification, recognised globally as the most contemporary qualification to fight fraud across the business world, was launched in Colombo on Tuesday at a special ceremony in the presence of CA Sri Lanka’s President Sanjaya Bandara, Past President Jagath Perera, Chief Executive Officer Ms. Dulani Ferando and President of the ACFE Sri Lanka Chapter and Chairman of the State Mortgage & Investment Bank, Dr. Udayasri Kariyawasam.
ACFE is the world's largest anti-fraud organisation and premier provider of anti-fraud training and education. To date, ACFE has trained over 90,000 members who have played a key role in helping reduce business fraud worldwide while also inspiring public confidence in the integrity and objectivity within the profession.
The globally recognised credential is also a critical qualification for Chartered Accountants, who are recognised as gatekeepers of businesses, as they are known for protecting organisations both big and small, and thus can play a more vital role in fighting fraud and corruption, which has become an increasing concern across the world, including in Sri Lanka.
Addressing the event, Bandara said that fraud is catastrophic, not just for a company but also for a country. “As a country, if we are to remain a favourable destination for foreign direct investments, I think it is very important that professional bodies such as CA Sri Lanka play a key role in helping combat fraud and corruption," he said.
According to him, the launch of this new globally recognised credential is an important beginning for Sri Lanka as it strives to eradicate fraud and corruption.
“This qualification can help finance professionals including Chartered Accountants play a catalyst role in helping reduce fraud within an organisation which will ultimately reflect positively on our country and also in the fraud and corruption global index," he added.