Right Practice

The CIMA Division Sri Lanka will host its annual conference next week, showcasing success stories of companies that have leveraged best practices to make a dent in the global marketplace.

With global best practices a must-have, the conference follows on from last years theme of lquote Repositioning Sri Lanka Globally, with best practices among the tools to get there. rn

rnldblquote In Sri Lanka, on the Financial Accounting and Annual Reporting side, there has been a fair adherence to best practices
dblquote , Vice President of the Chartered Institute of Management Accounting (CIMA), Sri Lanka, Lalith Fonseka said.rn

rnldblquote But in the area of management accounting, there is no regulatory framework and so adherence has been a yes and no among the Sri Lankan corporate
dblquote . rn

rnldblquote Problems range from data availability, the lack of awareness and information, and no commitment in part by management to build in the changes
dblquote , Fonseka saidrn

rnThe conference will cove