Developments of the accounting profession in the globalisation era: The case of Sri Lanka (1978–2015)

This study examines how the Institute of Chartered Accountants of Sri Lanka (ICASL) navigated jurisdictional competition with British professional bodies under conditions of globalisation. Drawing on archival and interview evidence, we show that the ICASL retained its monopoly over statutory audit while accommodating transnational competition in other domains through reciprocal exemptions and dual qualifications. Colonial legacies persisted but were reconfigured within broader frameworks of transnational governance, including international standards and policy reforms, which reshaped the professional field beyond former imperial ties. To analyse these dynamics, we extend Abbott's system of professions, highlighting how closure, subordination, and jurisdictional settlements operated alongside global governance mechanisms. The findings contribute to the literature on professionalisation and transnational governance by theorising hybrid jurisdictional strategies adopted by national professional bodies in globalising economies.