Sri Lankan PM Calls for Stronger Financial Accountability to Sustain Economic Recovery
Colombo, The Gulf Observer: Sri Lankan Prime Minister Dr. Harini Amarasuriya has underscored the importance of an efficient public sector and robust financial accountability, saying these are essential for ensuring the country’s sustainable development as it continues its economic recovery.
Addressing the CMA Sri Lanka National Management Accounting Conference 2026 in Colombo, the Prime Minister said management accounting has become a strategic necessity in an increasingly uncertain global environment, extending far beyond traditional financial reporting to support sound decision-making in both the public and private sectors.
Dr. Amarasuriya noted that Sri Lanka has made steady progress in recovering from its economic crisis, with improvements seen across the manufacturing, tourism, and financial sectors. She stressed, however, that the country’s next challenge is to consolidate economic stability while building a resilient and competitive economy.
Highlighting the need for greater accountability in public administration, the Prime Minister expressed concern over delays by several government institutions in submitting annual financial statements and audit reports. She said the government has taken steps to address the backlog and warned that legal action would be taken against institutions and officials who fail to comply with reporting requirements in the future.
She also called for evidence-based policymaking, emphasizing that public administration decisions should be guided by data, scientific analysis, and transparency rather than personal interests. In addition, she urged accounting professionals to incorporate environmental and social considerations into financial frameworks to reflect evolving global priorities.
The Prime Minister further announced that the government’s education reforms would introduce vocational training and a one-year institutional internship into the Advanced Level curriculum, while seeking the support of professional accounting bodies in implementing the initiative. She also acknowledged the role of institutions such as CMA Sri Lanka in developing ethical and strategically minded professionals capable of meeting the demands of a digital and AI-driven economy.
Held under the theme “Crisis, Stability and Growth: A Management Accounting Lens,” the two-day conference brought together policymakers, business leaders, academics, and accounting professionals to discuss the evolving role of management accounting in promoting sustainable economic growth and organizational resilience.
