Cross-border competition and the professionalization of accounting: the case of Sri Lanka
2006; SAGE Publishing; Volume: 11; Issue: 4 Linguagem: Inglês
10.1177/1032373206068706
ISSN1749-3374
Autores Tópico(s)Corporate Finance and Governance
ResumoThis article explores the accountancy profession in Sri Lanka. Sri Lanka obtained independence from Britain in 1948, and the Institute of Chartered Accountants of Sri Lanka (ICASL) was established in 1959. The influence of the British (ACCA and CIMA), coupled with the support of the Sri Lankan government for the ICASL, would seem to have provided an environment conducive to the development of the local profession. Such expectations, however, have not been met. The ICASL has produced 2,170 accountants – a number far short of that required to serve the needs of the economy. It appears that the ICASL has pursued an agenda of closure by seeking to restrict the supply of public practitioners. Therefore, the profession in Sri Lanka can be characterized as being beset by cross-border competition between British institutions seeking to exert influence within a former colony and a local organization concerned with achieving closure over practitioners.
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