Efficient public sector, accountable management accounting vital for sustainable development, Prime Minister Dr. Harini Amarasuriya said, stressing that stronger financial governance and evidence-based decision-making are essential as Sri Lanka works to strengthen its economic recovery and build long-term resilience.
Efficient public sector, accountable management accounting vital for sustainable development, PM says
Addressing the inaugural session of the CMA Sri Lanka National Management Accounting Conference 2026 in Colombo, the Prime Minister said management accounting has evolved into a strategic function that supports informed policy decisions, accountability, and sustainable economic growth across both the public and private sectors.
Dr. Amarasuriya said Sri Lanka has made significant progress in emerging from its economic crisis, thanks to the sacrifices made by citizens and the policy measures introduced by the Government. She pointed to positive developments in the manufacturing, tourism, and financial sectors, while noting that the next phase of recovery requires stronger institutions capable of maintaining stability and improving competitiveness.
According to the Prime Minister, Efficient public sector, accountable management accounting vital for sustainable development is no longer simply a policy objective but a practical necessity. She emphasised that transparent financial management and effective governance are fundamental to ensuring public confidence and supporting sustainable national development.
She noted that in today’s uncertain global environment, management accounting extends well beyond traditional financial reporting. Instead, it serves as a critical tool for strategic planning, resource allocation, performance measurement, and risk management in both government institutions and private enterprises.
A significant part of the Prime Minister’s address focused on improving accountability within Sri Lanka’s public sector. She revealed that several government ministries and institutions had failed to submit annual financial statements and audit reports over recent years. However, the current administration has initiated measures to clear the backlog and restore proper financial reporting standards.
Dr. Amarasuriya warned that the Government would adopt a stricter approach going forward. Institutions and public officials that fail to submit financial reports within the required timelines or violate established reporting standards will face legal action, she said, reinforcing the Government’s commitment to greater transparency and accountability.
She also highlighted the importance of evidence-based governance, stating that decisions within the public administration should be guided by reliable data, scientific analysis, and objective evidence rather than personal interests or political considerations. Such an approach, she said, is essential for delivering effective public services and strengthening institutional credibility.
The Prime Minister further observed that accounting practices themselves must continue to evolve to meet modern global challenges. She encouraged greater recognition of environmental degradation and social costs within accounting frameworks, arguing that these factors should play a larger role in organisational decision-making and long-term planning.
Speaking about education reforms, Prime Minister Dr. Harini Amarasuriya announced that vocational training programmes and a one-year institutional internship would be incorporated into Sri Lanka’s Advanced Level curriculum. The initiative aims to improve employability and better prepare students for professional careers, with support expected from recognised professional bodies.
She also acknowledged the role played by institutions such as CMA Sri Lanka in producing accounting professionals equipped with ethical values, strategic thinking, and the skills needed to operate in an economy increasingly influenced by digital transformation and artificial intelligence.
During the opening ceremony of the CMA Sri Lanka National Management Accounting Conference 2026, the Prime Minister launched the conference journal and presented Golden Jubilee Awards to senior professionals in recognition of five decades of service to the accounting profession. CMA Sri Lanka also awarded 100 full scholarships to the Government for public sector officers to undertake the CMA Management Accounting Programme, further supporting efforts to strengthen financial management capacity across the public sector.
The Efficient public sector, accountable management accounting vital for sustainable development message formed the central theme of the Prime Minister’s address, underlining the importance of strong governance, transparent financial reporting, and strategic leadership in securing Sri Lanka’s long-term economic stability and sustainable development.