Action Plan Developed by. Association of Accounting Technicians of Sri Lanka (AAT Sri Lanka) BACKGROUND NOTE ON ACTION PLANS

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1 BACKGROUND NOTE ON ACTION PLANS Action Plans are developed by IFAC members and associates to address policy matters identified through their responses to the IFAC Compliance Self-Assessment questionnaire. They form part of a continuous process within the IFAC Member Body Compliance Program to support the ongoing development and improvement of the accountancy profession around the world. Action Plans are prepared by members and associates for their own use based on the national frameworks, priorities, processes and challenges specific to each jurisdiction. As such, they will vary in their objectives, content and level of detail, consistent with their differing national environments and stages of development, and will be subject to periodic review and update. Refer to responses to the Part 1 Assessment of the Regulatory and Standard-Setting Framework Questionnaire and Part 2 SMO Self-Assessment Questionnaire provide background information on each member and associate their environment and existing processes. These responses may be viewed at: Use of Information Please refer to the Disclaimer published on the Compliance Program website. ACTION PLAN IFAC Member/Associate Association of Accounting Technicians of Sri Lanka (AAT Sri Lanka) Approved by Governing Body Governing Council of AATSL Original Publish October 2011 Last Published March 2015 Next Publication March 2016 Status as of Publication Page 1 of 20

2 GLOSSARY AATSL Association of Accounting Technicians of Sri Lanka CEO Chief Executive Officer CPD Continuous Professional IAASB International Auditing and Assurance Standards Board IAESB International Accounting Educational Standards Board IASB International Accounting Standards Board ICASL Institute of Chartered Accountants of Sri Lanka IESBA International Ethics Standards Board for Accountants IESs International Educational Standards IFAC International Federation of Accountants IFRSs International Financial Reporting Standards IPSAS International Public Sector Accounting Standards ISAs International Standards on Auditing ISQC 1 International Standard on Quality Control 1 QA Quality Assurance SBE Specified Business Enterprise SLAAS Act Sri Lanka Accounting & Auditing Standard Act No. 15 of 1995 SLASs Sri Lanka Accounting Standards SLAuSs Sri Lanka Auditing Standards SLFRSs Sri Lanka Financial Reporting Standards SLSQC 1 Sri Lanka Standard on Quality Control 1 SPLSASs Sri Lanka Public Sector Accounting Standards Status as of Publication Page 2 of 20

3 Action Plan Subject: Action Plan Objective: SMO 1 Quality Assurance Use Best Endeavors to Promote the Need for the Implementation of a QA Process with a View to Monitor Members Compliance with Auditing Standards. Background: According to the Sri Lanka Companies Act No 7 of 2007, only the Members of Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) are eligible to audit Public Limited Liability Companies. The same act authorizes five other bodies to audit private limited liability companies but the Association of Accounting Technicians of Sri Lanka (AAT Sri Lanka) is not among these bodies. Therefore members of AAT Sri Lanka are not authorized to undertake any audits under statutes. Members of AAT Sri Lanka do not have practicing firms and therefore International Standard on Quality Control 1 (ISQC 1) is not relevant to AAT Sri Lanka. However, some of AAT Sri Lanka members are employees of practicing firms of Chartered Accountants involved in audit and assurance services. They are required to adhere to quality control requirements implemented by these audit firms and the quality control of these members comes under the supervision of the CA Sri Lanka. The introduction to SMO 1 states that the International Auditing and Assurance Standards Board (IAASB) establishes standards and provide guidance on quality control procedures for specific types of engagements, for example International Standards on Auditing (ISA) 220 Quality Control for Audits of historical financial information. In the circumstances, it is our view that quality control efforts of AAT Sri Lanka should be based on Sri Lanka Auditing Standard 220 (ISA 220) Quality control for audit work. Sections 8 to 16 deal with how the auditor should implement quality control procedures are relevant to Accounting Technicians, as these measures could be adopted by all auditors whether they audit listed companies or small entities. We intend educating our membership involved in audits by way of seminars and workshops on the aspects of direction, supervision and review necessary for quality control. # Start Actions Maintaining Processes 1. November 2010 The Governing Council of AAT Sri Lanka identifies the committees necessary to implement and monitor Quality Control for audit work as prescribed in the Sri Lanka Auditing Standard 220. Education & Training, Membership & Professional (CPD) s Staff attached to Membership division and CPD secretariat Status as of Publication Page 3 of 20

4 # Start Actions 2. March Submission of quarterly reports on QA as prescribed in Sri Lanka Auditing Standard 220 by the relevant committees to the Governing Council. Quarterly Membership committee and CPD Secretariat Staff attached to Membership division 3. May Conduct workshop in collaboration with CA Sri Lanka on those areas of ISQC1 that could be adopted by the Technicians auditing sole proprietorship and partnerships. (workshop will be held at least once every year) Professional CA Sri Lanka Persons 4. April AAT Sri Lanka Consultant Examinations, Education & Training to visit CA Sri Lanka and discuss the ISQC1 toolkit developed by CA Sri Lanka, with a view to determine the relevance of it to the audit of small entities by Accounting Technicians. CEO - AAT Head of Education & Training 5. September Consider the findings of the above visit in the AAT Sri Lanka syllabus review. December 2014 In progress Curriculum Head of Education & Training and Chief Academic Officer New s 6. September 2014 of Quality Assurance manual who are willing to be member in practice. Pending the approval of Registrar of Companies. December 2015 Chairman Membership Membership Division Status as of Publication Page 4 of 20

5 # Start Actions Review of AAT Sri Lanka s Compliance Information 7. Review AAT Sri Lanka s responses to International Federation of Accountants (IFAC) Compliance self assessment questionnaires relating to SMO 1. Ascertain the validity and accuracy of the responses made annually up to date and if a change of responses is necessary, update the answers to the relevant section of the questionnaires and inform IFAC Compliance Staff. President CEO Status as of Publication Page 5 of 20

6 Action Plan Subject: Action Plan Objective: SMO 2 International Education Standards for Professional Accountants and Other Pronouncements issued by the IAESB Compliance with SMO 2 by the Implementation of International Education Standards & Other Pronouncements. Background: Accounting Technicians perform middle level accounting functions and also engaged in technical support roles across the areas of accountancy. IES 1 requires the entry requirements for professional education to be at least equivalent to that for admission into a recognized university degree program. However, to qualify as an accounting technician it is felt that the current requirement of G.C.E. Ordinary Level examination is sufficient. In order to align with the SMO 2 the curriculum of the foundation level has been strengthen to make it equivalent to the minimum entry requirement for local universities. AAT Sri Lanka has no plans in place to raise the entry requirements in the near future and continues to monitor progress on the IAESB s review of IES 1. AAT Sri Lanka has a comprehensive procedure in place to grant exemptions to those students having full or part qualifications of other professional bodies. AAT Sri Lanka requires a minimum 1½ years of study to complete its 3 examinations. AAT Sri Lanka has imposed a comprehensive Practical Training scheme for its students who are required to record the particulars of Practical Training in a record book (designed by the AAT Sri Lanka and based on the Record Book used by the CA Sri Lanka) and trainers sign off on steps completed. Once a student has successfully completed the examinations, he is interviewed by a panel consisting of professionals / officers who assess the authenticity and effectiveness of the training. Those students who have undergone Practical Training through CA Sri Lanka can submit the relevant record book and such training is valid for fulfilling the practical training requirements of AAT Sri Lanka. The period of practical training required for membership of AAT Sri Lanka is 2 years. Technicians are working at the operational level and for this level of activities it is felt that a 2 year period is sufficient, and in excess of the 1 year period recommended in the Good Practice Guide:Education Training & of Accounting Technicians issued by the IFAC Developing Nations (now the Professional Accountancy Organization (PAODC). This guide was originally used to determine the strategy of AAT Sri Lanka relating to Education, Training & and now as a benchmark by the Governing Council in determining the way forward. AAT Sri Lanka s current priority is a syllabus review which is due to result in updated examinations from It is the policy of the Governing Council to revise the syllabus once in five years to be in step with the global and local developments. A consultant has been appointed and is providing regular progress reports. AAT Sri Lanka has developed a comprehensive CPD program for its members, which has been operating since The CPD scheme is mandatory for all members of AAT Sri Lanka at any membership level, employed in any sector. For verification of CPD activities an input approach has been employed. Measurement units are determined by the CPD. Requirements are currently tied to membership levels and not Status as of Publication Page 6 of 20

7 aligned with SMO 2 requirements (120 hours to obtain SAT membership and a further 80 to advance to Fellowship). This is being revisited as part of a strategic review of the organization. # Start Actions Efforts to Improve and Enhance AAT Sri Lanka Education Systems The Curriculum meets regularly to determine any necessary changes or improvements to syllabi and examinations to enhance compliance with SMO 2. Curriculum Educational Consultants resourced from outside and the staff of Education and Examinations division 9. November 2014 Introduction of a new exemption policy for students possessing GCE A/L. (Made effective from July 2015 examination) under the new curriculum. July 2015 Examinations Director Examinations and Manager Registration 10. June Round table discussion on the sequential diagram of the future revision of syllabi. To be attended by members of the Curriculum, Examination Consultant, Examiners, Lecturers, Study Pack Writers and employers of Accounting Technicians. Curriculum Secretary to the Curriculum, Director Examinations, Examiners and Lectures. 11. March CA Sri Lanka to conduct a peer review of the compliance of IES 1 & 2 in and review Chief Academic Officer Assistance to be given by AAT Staff 12. March Guidelines circulated among the Tuition colleges conducting classes, so that educational programs could be structured to impart skills sets in terms of IES 3. June 2015 Education & Training committee Head of Education & Training New s Establishment of Business School Business School Chief Academic Officer Status as of Publication Page 7 of 20

8 # Start Actions 14. September 2013 Council approved revised the cadre to include Chief Academic Officer to overlook academic and evaluation affairs at a higher level. August 2014 CEO CEO Syllabus Review Process 15. September Consultant appointed to work with Curriculum on review of current syllabus against current best practices. Curriculum Educational Consultants resourced from outside and the staff of Education and Examinations division 16. September Report to the Governing Council by Curriculum committee. a. Exposure draft (Discussion) b. Preliminary requirement gathering c. Discussion of Draft proposed curriculum with lecturers and Accredited Education Centres c. Final Report Curriculum Chief Academic Officer Practical Training 17. May A series of seminars will be held for those supervising practical training of students with a view to familiarize them about the skills to be acquired by trainees as part of training scheme. The seminars will be conducted regionally. Education & Training Head of Education & Training Quarterly examination of Practical training records by the Director. Education & Training Head of Education & Training Interviews for trainees conducted by the Director Education & Training, where detailed explanations are obtained to determine the authenticity and adequacy of training. Education & Training Head of Education & Training Status as of Publication Page 8 of 20

9 # Start Actions 20. April Practical training division officials will visit the organizations imparting such training, on a sample basis. Some of the visits will be made without prior notice to the trainer and the trainee. These visits are aimed at not only to establish the genuineness of the training, but also to offer advice to make such training more effective, and qualitative. Education & Training Head of Education & Training Establishment of a business school under AAT Sri Lanka in order to provide practical knowledge to students / passed finalists by way of courses, workshops and a simulated work environment at Head office to further enhance practical training. Certain aspects of training which cannot be imparted by the training organization could be provided in these workshops. Business School Director Education & Training and Director Business School Compilation of CPD hours on an annual basis by the CPD committee. CPD Staff of the CPD Secretariat 23. September 2011 Approval of the new CPD scheme by the Governing Council. Governing Council of AAT Sri Lanka Staff of the CPD Secretariat 24. June CPD Sub will initiate a discussion on the practice of measuring activities to grant CPD credits. will also discuss the possible expansion of CPD opportunities and resources to assist members. Definition of measurable and verifiable activities for this purpose will also be revisited. December 2014 CPD Sub - Supervised by the Membership Members of the Governing Council, CEO, Director Membership, Chairman Professional. 25 From the year Membership Division of AAT Sri Lanka will annually issue a Letter / Certificate stating the CPD credits earned by a member. An Annual Review of activities eligible for CPD credits will take place. Membership Director Membership Status as of Publication Page 9 of 20

10 # Start Actions 26. Signup with new training partners and to renew existing contracts with training organizations September 2015 Education & Training Head of Education & Training Review of AAT Sri Lanka s Compliance Information 27. Review AAT Sri Lanka s responses to International Federation of Accountants (IFAC) Compliance self assessment questionnaires relating to SMO 2. Ascertain the validity and accuracy of the responses and if a change of responses is necessary, update the answers to the relevant section of the questionnaires and inform IFAC Compliance Staff. President CEO Status as of Publication Page 10 of 20

11 Action Plan Subject: Action Plan Objective: SMO 3 International Standards and other Pronouncements Issued by the IAASB To achieve congruence with International Standards, Related Practice Statements and other pronouncement Issued by the IAASB. Background: In Sri Lanka the Institute of Chartered Accountants of Sri Lanka is vested with the statutory authority of formulating Sri Lanka Standard on Auditing by the Government. These standards are based on International Standards on Auditing, practice statements and other papers issued by the IAASB. According to the Sri Lanka Accounting & Auditing Standards Act No 15 of 1995, all those responsible for the audit of entities specified by the Act (SBEs) have a statutory responsibility of complying with these standards. Members of AAT Sri Lanka are not eligible to undertake Audit and Assurance Services of SBEs. Certain Accounting Technicians are working as employees of Audit firms responsible for the Audit of SBEs. It is in that context that the Council of AAT Sri Lanka views the obligation in terms of SMO 3. AAT Sri Lanka use its best endeavors to encourage the statutory Auditing Standards of CA Sri Lanka to follow this SMO and in the implementation through Accounting Technicians employed by the Audit Firms. The Council members nominated by CA Sri Lanka to the Governing Council of AAT Sri Lanka provide a useful conduit between CA Sri Lanka & AAT Sri Lanka in making a joint effort in the implementation of these standards. # Start Actions Maintaining Processes 28. Commenced in 2008 When national standards are presented as exposure drafts Accounting Technicians are encouraged to forward their comments. Members engaged in audit and assurance work Membership 29. From 2006 The Curricula of AAT Sri Lanka incorporates Sri Lanka Standards on Auditing of different stages of its examinations. Curriculum and Examinations Examiners, Paper Setters, Moderators and the Education Consultants. Status as of Publication Page 11 of 20

12 # Start Actions New s 30. Publicize the audit-related activities that qualify to earn CPD credits, including attending seminars, and publish articles relating to auditing standards in AAT Journal and other professional publications. Professional Staff CPD Secretariat 31. Assist in the efforts of CA Sri Lanka in the translation of ISAs to Sinhala and Tamil the official languages in the country. This is of special significance to students who appearing to be Accounting Technicians who are engaged in the audit of small businesses whose records are kept in the Official Languages. Chief Academic Officer AAT Members competent in Sinhala & Tamil languages selected by Curriculum 32. June Communicate IAASB exposure drafts and pronouncements to AAT Sri Lanka members involved in audit work and submit responses to the statutory Auditing Standards of the CA Sri Lanka. Director - Membership Staff attached to Membership division Review of AAT Sri Lanka s Compliance Information 33. Review AAT Sri Lanka s responses to International Federation of Accountants (IFAC) Compliance self assessment questionnaires relating to SMO 3. Ascertain the validity and accuracy of the responses made annually up to date and if a change of responses is necessary, update the answers to the relevant section of the questionnaires and inform IFAC Compliance Staff. President CEO Status as of Publication Page 12 of 20

13 Action Plan Subject: Action Plan Objective: SMO 4 IESBA Code of Ethics for Professional Accountants (a) Adoption and Implementation of the IESBA Code of Ethics (b) Build awareness of adopted standards and promote proper understanding among members Background: The AAT Sri Lanka Code of Ethics currently applicable was introduced in September The Code of Ethics for Accounting Technicians has been developed independently of the IESBA code, but relevant aspects of the IESBA code have been adhered to. Ethical requirements for members in public practice are not relevant to Accounting Technicians. However, since some accounting technicians are attached to audit teams in firms of auditors, the Auditor General Department and independent engagement as tax representatives, AAT requires these members to gain an understanding of the ethics applicable to those in public practice. The Ethics of AAT Sri Lanka continuously reviews the Code of Ethics with Pronouncements of IESBA to make sure compliance as applicable. (a) # Start Actions Adoption and Implementation of a Code of Ethics Aligned with the Current IESBA Code 34. Q4 Review of latest IESBA Code of Ethics by Advisory Group of AAT Sri Lanka Past Presidents and submission of feedback to Ethics Chair of Conduct Compliance CEO, Advisory Group 35. December Ethics to consider the above and produce a report on more comprehensive alignment with the IESBA Code. March 2013 Chair of Conduct Compliance CEO and Members of the Ethics 36. March 2013 Ethics to take forward plan for adoption of new Code of Ethics. June 2013 Chair of Conduct Compliance CEO 37. June 2013 New Code of Ethics Adopted. Governing Council CEO, Chair of Ethics Status as of Publication Page 13 of 20

14 (b) # Start Actions Build awareness of adopted standards and promote proper understanding among members 38. March 2013 New s Awareness-raising activities associated with adoption of new Code of Ethics. CEO CEO 39. March 2014 Develop and implement the web-based version of Code of Ethics with on line support services on practical issues. September 2015 Director Membership IT Team, Business School Establishment of a new committee under the name Conduct and Compliance with a wide scope of authority President Governing Council Review of AAT Sri Lanka s Compliance Information 41. Review AAT Sri Lanka s responses to International Federation of Accountants (IFAC) Compliance self assessment questionnaires relating to SMO 4. Ascertain the validity and accuracy of the responses made annually up to date and if a change of responses is necessary, update the answers to the relevant section of the questionnaires and inform IFAC Compliance Staff. President CEO Status as of Publication Page 14 of 20

15 Action Plan Subject: Action Plan Objective: SMO 5 International Public Sector Accounting Standards and Other Pronouncements Issued by the IPSASB To Encourage and Assist Public Sector Organizations to Strengthen Financial Management and Financial Reporting. Procedures in Step With the IPSASB Pronouncements. Background: The issue of guidelines relating to Financial Reporting in the Public sector institutions is the responsibility of the Parliament, General Treasury, Central Bank of Sri Lanka and the Ministry of Finance & Planning. Although the statutory power of formulating Financial reporting standards are conferred on the CA Sri Lanka by the Sri Lanka Accounting & Auditing Standard Act No. 15 of 1995 (SLAAS Act no 15 of 1995), it cannot directly require the public sector to comply with Sri Lanka Public Sector Accounting Standards (SPLSASs). AAT Sri Lanka requires its members attached to the public sector to comply with SPLSASs. The CA Sri Lanka, established convergence processes with IPSASs in 2008 by the appointment of the Public Sector Accounting Standards. As a membership body for accounting technicians, AAT Sri Lanka does not participate in the standard setting structures for public sector accounting and therefore its ability to influence the adoption of International Public Sector Accounting Standards (IPSASs) is limited. AAT members working in the public sector would not be undertaking responsibilities at the level covered by the standards without undertaking further senior professional qualifications. # Start Actions Maintaining Processes Incorporation of SPLSASs in the AAT Sri Lanka syllabus in the Financial Accounting Papers, questions are set on these standards. The Study Texts for students developed by AAT Sri Lanka devotes two chapters on SPLSASs. Introduction of new specialized area in public sector Q Curriculum and Examinations Staff attached to Curriculum 43. Compile a list of members employed by the Public sector. March Professional Professional Status as of Publication Page 15 of 20

16 # Start Actions 44. March Arrange for members employed by the Public sector to attend seminars / workshops on public sector accounting conducted by the CA Sri Lanka. Professional Professional 45. Review annually responses to IFAC Global Leadership Survey in the area of public sector and if changes have taken place, updates will be sent to IFAC. International Affairs CEO Review of AAT Sri Lanka s Compliance Information 46. Review AAT Sri Lanka s responses to International Federation of Accountants (IFAC) Compliance self assessment questionnaires relating to SMO 5. Ascertain the validity and accuracy of the responses made annually up to date and if a change of responses is necessary, update the answers to the relevant section of the questionnaires and inform IFAC Compliance Staff. President CEO Status as of Publication Page 16 of 20

17 Action Plan Subject: Action Plan Objective: SMO 6 Investigation and Discipline Formulate and Implement an Investigation and Discipline System for AAT Sri Lanka Members in accordance with IFAC SMO 6. Background: In Sri Lanka, Sri Lanka Financial Reporting Standards (SLFRS) and Sri Lanka Auditing Standards (SLAS) are part of the statutes of the country. Sri Lanka Accounting and Auditing Standards Act No 15 of 1995 require all such standards to be approved by the Council of CA Sri Lanka and published in the Government Gazette afterwards. The Act stipulates penalties, including jail sentences, for non-compliance with Accounting & Auditing Standards. The Act has made it mandatory for certain specified business entities to comply with the standards. Those Accounting Technicians responsible for the preparation of financial statements of such entities are legally bound to observe the standards and non observation will expose them to the penal measures contained in the Act. The Act also provide for regulator to report instances of negligence to respective professional bodies. AAT Sri Lanka has formulated a set of Disciplinary Regulations for its members to be implemented from March # Start Actions Introduction of an Investigation and Disciplinary Process for AAT Sri Lanka 47. Q Conduct a review of SMO 6 and prepare a report on how AAT Sri Lanka can design and implement an aligned investigation and discipline system for its members. August 2014 Governing Council Technical Staff 48. December Review the investigation and disciplinary processes of other IFAC member bodies and consider how similar system could be introduced within AAT Sri Lanka. August 2014 Ethics CEO 49. March 2013 Preparation of a step-by-step action plan for the development and implementation of the AAT Sri Lanka investigation and discipline system. August 2014 Conduct and Compliance CEO, Conduct Compliance 50. Preparation of a disciplinary procedure applicable to members who engage in unethical practices. This will be done with the assistance of the CA Sri Lanka and legal consultants. December 2013 Conduct and Compliance CEO, Director Membership Status as of Publication Page 17 of 20

18 # Start Actions New s Implement the AAT Sri Lanka Disciplinary Regulations August 2014 Governing Council President, Conduct and Compliance Establishment of a new committee under the name Conduct and Compliance with a wide scope of authority President Governing Council 53. March 2014 Continue to monitor cases to identify trends and risks in order to develop processes to improve members conduct and compliance. President Conduct and Compliance Review of AAT Sri Lanka s Compliance Information 54. Review AAT Sri Lanka s responses to International Federation of Accountants (IFAC) Compliance self assessment questionnaires relating to SMO 6. Ascertain the validity and accuracy of the responses made annually up to date and if a change of responses is necessary, update the answers to the relevant section of the questionnaires and inform IFAC Compliance Staff. President CEO Status as of Publication Page 18 of 20

19 Action Plan Subject: Action Plan Objective: SMO 7 International Financial Reporting Standards and Other Pronouncements issued by the IASB Use Best Endeavors to Ensure the Implementation of IFRSs Background : In Sri Lanka the legal authority for the formulation of Sri Lanka Financial Reporting Standards (SLFRS) is vested in the institute of Chartered Accountants of Sri Lanka, by the Sri Lanka Accounting & Auditing Standards Act No 15 of This Act has set up two statutory committees namely the Sri Lanka Accounting Standards and the Sri Lanka Auditing Standards. Members of AAT Sri Lanka are not appointed to these committees. The standards formulated by these committees are submitted to the Council of CA Sri Lanka and once approved by the Council, the standards are gazetted and given legal status. The financial reporting standards most relevant to AAT Sri Lanka members are the SLFRS for SMEs. # Start Actions Use of best endeavors to raise awareness of, and provide training around, SLFRS and SLFRS for SMEs Update the curriculum with new changes in standards. Curriculum Chief Academic Officer 56. Revise study texts published by AAT Sri Lanka to accommodate revised SLFRS. Education & Training Outsourced professionals who are assigned with the task of writing Study Packs 57. April Prescribe attendance at CA Sri Lanka awarenessraising program around SLFRS for Students, Members, Examiners and Lecturers. - annual Professional Secretary Professional 58. Member awareness-raising around SLFRS and SLFRS for SMEs via website and journal articles. CEO, Members Journal Sub CEO, Manager Marketing and Promotions Status as of Publication Page 19 of 20

20 # Start Actions Review of AAT Sri Lanka s Compliance Information 59. June 2008 Participate in the study conducted in 2008 by the Business Reporting Study Group of IFAC. The study progressed in the areas of, financial reporting, auditing and governance. AAT Sri Lanka was one of the 74 IFAC member bodies participated in the study. The findings are contained in the Information Paper issued by IFAC in February June 2014 Governing Council Chief Executive Officer 60. New Review AAT Sri Lanka s responses to International Federation of Accountants (IFAC) Compliance self assessment questionnaires relating to SMO 7. Ascertain the validity and accuracy of the responses made annually up to date and if a change of responses is necessary, update the answers to the relevant section of the questionnaires and inform IFAC Compliance Staff. President Chief Executive Officer 61. Update SLRFS and IFRS reason amendments and development in new Curriculum which is to be launched in President Chief Academic Officer Status as of Publication Page 20 of 20