Despite the evolution of the accounting profession, research has also been a subject that the profession has not given too much of focus over a long years; but in an era of continuous transformation and disruption, it is important to understand that research is critical for all profession in material of the fact that they are in medicine, architecture or in accounting, The Institute of Chartered Accountants of Sri Lanka, (CASL) President Sanjaya Bandara said.
Speaking at the CA Sri Lanka Annual Research Symposium 2022, Sanjaya Bandara said research is key because it provides new information especially in the midst of a post pandemic era and having witnessed extraordinary transformation of how business operations have changed in an era of remote working and other changes , research will give us a better sense of direction and will help everyone to be better prepared.
“Therefore as a global profession, we have gradually understood the importance of research and focus extensively on this area in recent years. As much as we understand that we are progressing, we must also understand that what is expected from our profession today is different to what will be expected of tomorrow. Research will play an important role in helping us understand these to bridge this gap.
“Our profession is constantly evolving and research will not only play a part in the progression of our profession; but what we will learn from research will also extend to many other areas including at a corporate level and a country level.”
Bandara also highlighted that accounting as a profession has faced many changes over the past decade while the global pandemic has also added tremendous new challenges to the profession.
“Accounting profession consists of a versatile brand of global professionals, united by ethics, values and rich in talent. The accounting profession has always been identified as one of the most progressive professions in the world.
Bandara also added that accountants including chartered accountants have made a significant contribution to the global and local economies across the globe.”
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