Sri Lanka Association of Accounting and Society (SLAAS)

CONSTITUTION

ARTICLE I

NAME and LOCATION

Section 1

The name of the association is Association of Accounting and Society (hereinafter referred to as “the Association or the AAS”). The Association operates in Sri Lanka and in such other countries as may be necessary to enable it to achieve its objectives. The official address of the Association is Department of Accounting, University of Sri Jayewardenepura, Gangodawila, Colombo, Sri Lanka.

ARTICLE II

PURPOSE

Section 1	The AAS is a not-for-profit professional association for academics, researchers, practitioners, and policy makers in Sri Lanka and worldwide with interest in accounting. If a surplus is made in any one of the activities, it shall be used exclusively for the objectives of the Association.
Section 2	The Association will promote research and/or training activities in accounting, and business, as approached through the social sciences and interdisciplinary/multidisciplinary studies.
Section 3	The specific objectives of the Association: 1. To promote contacts among affiliated members, inter alias by disseminating information on research in progress or on studies and experiments in training and on new training schemes. 2. To establish or facilitate exchanges, working relations and useful cooperation among members. 3. To cooperate with government, private development agencies, professional organizations, and international organizations, in research and training activities. 4. To communicate and disseminate research and training results on development to government and private development agencies, professional organizations, international organizations, as well as to the mass media. 5. To engage in other activities as may be appropriate for such an organization

ARTICLE III

ACTIVITIES AND REVENUE

Section 1	The Association organizes conferences, seminars, working parties and also collects information and publishes books, papers, documents, and information bulletins.
Section 2	The activities of the Association are financed by: 1. Fees of individual and institutional membership; 2. Income from events and by the Association and its publications; 3. Grants and donations; 4. Subsidies and subventions; and 5. Any other legal sources

ARTICLE IV

MEMBERSHIP

Section 1

The membership is opened for individuals who are professionally active in research and/or training in accounting and business. Further, the membership is also opened for institutes or associations whose objectives and activities are oriented towards research and/or training in accounting and business. Applications for membership have to be addressed to the Secretary of the Association and decided by the Executive Committee of the Association.

Section 2

The membership shall be divided into the following classes: 1. Academic Members Any academic with an interest in accounting and finance or related fields shall be eligible for membership as an academic member of the Association. 2. Professional members Any academic, practitioner or policy maker with an interest in accounting and finance or related fields shall be eligible for membership as a professional member of the Association. 3. Institutional members Any organization including business firms, banks and financial institutions, government entities, universities, centers for research, and similar entities shall be eligible for membership as an institutional member of the Association. 4. Life members

	Any practitioner or policy maker with an interest in accounting and finance or related fields shall be eligible for membership as a life member of the Association by fulfilling the requirements of the application. 5. Honorary members At any annual general meeting of the Association the committee may propose a person as an honorary member of the Association to be elected by a majority of the members present at such meeting, and any such honorary member shall be subject to the rules and regulations of the Association and enjoy the life-time privileges of membership without payment of subscription. No such nomination shall be made unless the person nominated holds some public office or has rendered exceptional or special services on behalf of the Association or to accounting and finance or related fields.
Section 3	The status of member expires as a result of voluntary withdrawal, death, loss of corporate body or expulsion. A member must give the President or the Secretariat at least three months notice in writing of his or her intention voluntarily to withdraw from the Association, which may only take effect at the end of a business year.
Section 4	Every paid-up member has the right to participate in the Annual General Meeting (AGM).
Section 5	The executive committee (EC) officers of the Association shall consist of the following positions 1. President 2. Secretary 3. Treasurer 4. Immediate Past president 5. Vice-President 6. Assistant Secretary 7. Vice-Treasurer 8. Director – Membership 9. Director – Education 10. Director – Conference 11. Committee member from each university Note: All the above positions are fixed term contract for two (2) years. After completion of fixed term period, vice president will be appointed as the president of the association for the next two (2) years period.
Section 6	Every member has the duty to pay membership fee regularly at the rate determined by the AGM. The Association does not commit its members to liability beyond the amount of their membership fee.

ARTICLE V

Section 1	The structure and mode of operation of the Association would be; 1. An Annual General Meeting (AGM) 2. An Executive Committee (EC) 3. A Secretariat
Section 2	The AGM is the supreme body of the Association. It consists of authorised representatives of all institutional members and individual members. No individual can represent more than one institutional member. The AGM is convened every year. Invitations to the AGM including the agenda proposed and audited financial statements (Financial year ends 31^stMarch) have to be sent to members, at least 30 days prior to the meeting. Minutes of the decisions of the AGM must be kept and signed by the President and the Secretary taking the minutes into account.
Section 3	The AGM has the power: 1. To approve the rules of procedure, the estimates of receipts and expenditure, the accounts of the preceding years, 2. To decide on the work programmes submitted to it by the Executive Committee or upon the initiative of one or more members. 3. To make the final decision on applications for membership and expulsion of members 4. To determine/revise the membership fee 5. To elect the members of the Executive Committee except immediate past president
Section 4	The decisions are made at the AGM by consensus. When it is impossible to reach a consensus, decisions are reached by simple majority of votes cast. If the votes are equal, the immediate past president has a casting vote. Each member will have one vote.
Section 5	The Executive Committee members are selected at the AGM once in every two (2) years except the president. The Executive Committee normally meets once a month. It gives directions and supervises the affairs of the Association, organize the activities and control the activities of the Executive Committee and Secretariat.
Section 6	In the Executive Committee decisions are made by consensus. When it is impossible to reach a consensus, decisions are reached by simple majority of votes cast. If the votes are equal, the president has a casting vote. If executive committee member (s) does/ do not attend three (3) meetings continuously without informing, the executive committee has power to cancel his/ her position and appointing/ replace new member for the executive committee.
Section 7	For decisions of the Executive Committee to be valid, at least five members must be present at the meeting. In the Executive Committee decisions will be made by consensus. When it is impossible to reach a consensus, decisions shall be reached by

	simple majority of votes cast. If the votes are equal, the president has a casting an additional vote.
Section 8	The President convenes the Executive Committee and the Annual General Meeting and presides over their meetings.
Section 9	For the day-to-day conduct of operations, a Secretariat is to be established under the responsibility of the President or, under that of the Executive Secretary. It prepares the regular business meetings of the Executive Committee, and the Annual General Meeting. Further it organizes or supports the organization of the activities of the Association to achieve the objectives and carries out the administrative work involved in the day-to-day conduct of business.

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Section 1	Subject to the Articles, the executive committee may, by a simple majority vote, make, amend or repeal any by-laws that regulate the activities or affairs of the Association. Any such by-law, amendment or repeal shall be effective from the date of the resolution of executive committee members until the next Annual General Meeting of members where it may be confirmed, rejected or amended by the members. If the by-law, amendment or repeal is confirmed or confirmed as amended by the members it remains effective in the form in which it was confirmed. The by law, amendment or repeal ceases to have effect if it is not submitted to the members at the next meeting of members or if it is rejected by the members at the meeting
Section 2	The articles of the Constitution and By-Laws shall be confirmed, amended or repealed by a two-thirds vote of eligible Members at any Annual General Meeting which may be conducted in person or electronically as determined by the executive committee.
Section 3	Notice of proposed revisions and new proposals shall be sent to the members at least 30 calendar days prior to the date on which the vote is to occur