“ The FAO workforce is highly educated with c. 78% of the workforce holding ull or part qualifications in accounting and finance ”

16% of fully qualified employees have obtained more than one finance or

accounting related qualification. The UK based CIMA qualification has been widely popular with over 30% of fully qualified staff in the industry having obtained this qualification. It is also noted that 37% of the qualified staff either hold a university degree or are in the midst of completing the same, while 34% are fully or partly qualified in ACCA-UK or Chartered Accountancy awarded by CA Sri Lanka

The industry is further characterized by a young and vibrant workforce with 79% of the total FAO sector employees being under the age of 30 while only 4% is over 40 years of age. On a gender basis, the industry employs marginally more males (53% of industry workforce)

Workforce Age Comparison

Moreover, 5% of FAO industry professionals held other postgraduate qualifications including the Chartered Financial Analyst (“CFA”) qualification with an additional 8% having partly completed post-graduate level qualifications. Approximately 20% of the staff employed within the FAO industry are also full or part qualified in middle-level accountancy qualifications such as AAT in Sri Lanka

Experience of ITC Workforce by Sub Sectors

BPO Industry is Gender balanced

Qualification of ITC Workforce by Sub Sectors

Growth of WF

The growth in the FAO industry in Sri Lanka is signified by the increase in employment within the

industry which has grown at a CAGR of c. 16% over the past five years and is projected to increase by at least an additional 37% by the end of 2013. Workforce attrition also remains relatively low at less than 20%.

Skills available

Supply – Graduates and others

The state Universities churn more than 4000 graduates as Management Graduates every year. The BBA and BSc in Management syllabuses include a significant Accounting and Finance component according to the University Grants Commission

Sri Lanka boasts more people with UK-recognized management accounting qualifications than any country outside the UK

Most professionals possess dual or multiple qualifications eg. CIMA qualification complemented with ACCA of Chartered Accountancy

Supply of Professional Accountants

Total Student population of the accountancy bodies in sri lanka

Total membersips in proffesional bodies in sri lanka

Professional Associations Offering Accountancy Qualifications in Sri Lanka

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Institute of Chartered Accountants of Sri Lanka (ICASL)

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The Institute of Certified Management Accountants of Sri Lanka

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Association of Certified Chartered Accountants – UK (ACCA)

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The Association of Accounting Technicians of Sri Lanka (AAT)

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The Chartered Institute of Management Accountants (CIMA)

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Chartered Financial Analyst Institute