Bounded by uncertainty, the world is perhaps facing its biggest challenge known to mankind due to the COVID-19 global pandemic, the ripple effects of which has impacted every business and professional community including Chartered Accountants.
The pandemic has plunged the world into the deepest recession in 150 years, as businesses both big and small across the world fight to survive. As a leading professional organisation, we believed it is imperative for CA Sri Lanka to help our businesses rebuild while becoming an important catalyst to our professional community so that they can navigate through these unchartered territories. Therefore, the 41st National Conference of Chartered Accountants will be an important platform to discuss the changes, opportunities and abnormalities stemming from the COVID-19 crisis.
The road to recovery both at a global and local level is likely to be long and arduous due to the scale of the impact. While the world is engulfed in desolation, due to the pandemic, I believe the pandemic has also created us new opportunities in a business sense. Since COVID, we watched how businesses including SMEs who had zero presence on even social media quickly adapt to technology and other innovative business practices to survive. The pandemic no doubt opened new avenues which up until a few months back were never considered feasible.
COVID-19 has also created an opportunity for us all to start fresh, evaluate the challenges, learn from them and utilise it to create new opportunities for our long term sustenance and success under the ongoing ‘abnormal’ situation.
Amidst climate change and depletion of natural resources, which are often the result of man-made decisions, we have come to a point where we need to not just only focus on profits but also protect our planet, if we and our businesses are to survive on the long term. In such a scenario, I believe the pandemic has also provided us with a rare opportunity where we could revaluate our strategies and be responsible by contributing constructively towards achieving the Sustainable Development Goals (SDGs), which is considered a roadmap for humanity, as it encompass almost every aspect of human and planetary wellbeing.
Abnormality is here to stay, but, if we are willing to remain agile and adapt with the new normal all while embracing innovation, creativity and choosing to remain responsible as citizens and professionals, I am confident we will bounce back stronger.
I wish the National Conference fruitful deliberations!
Manil Jayesinghe
President
CA Sri Lanka
