IASSL is the only professional organization committed to promote and assist the advancement of Statistics for the furtherance of research, planning, development, education, and training in Sri Lanka.

Institute of Applied Statistics, Sri Lanka has been incorporated by the Parliament of Sri Lanka on 20th September 2011 by the Institute of Applied Statistics, Sri Lanka (Incorporation) Act No. 38 of 2011. This is the successor of the former Applied Statistics Association, Sri Lanka (ASASL) established in 1999. IASSL is a member of the Organization of Professional Associations (OPA) of Sri Lanka.