The Institutes of Certified Management Accountants (CMA) of Sri Lanka celebrated its 12th Graduation Ceremony recently at the BMICH.
With this event, CMA moved another milestone and recognized and presented awards to students who have passed the examinations of CMA in November 2014 and May 2015. This comprised of 16 Certificate of Computerized Accounting (CCA) holders, 50 Associate Management Accountants designation recipients, 529 Foundation Level, 239 Operational Level, 156 Managerial Level, 98 Strategic Level, 78 CMA Passed Finalists and overall 89 Associate Members, six Fellow Members, 10 scholarship holders and 35 prize winners.
This occasion was graced by the chief guest Foreign Affairs Deputy Minister Dr. Harsha De Silva, guest of honour Sri Lanka Institute of Advanced Technological Education (SLIATE) Director General Dr. W. Hilary E. Silva, Dharmavahini Foundation Patron Ven. Metta Vihari Denmark, Examinations Department Examinations Commissioner Technology Branch K.M.H. Bandara, CMA Examination Committee Chairman Dr. W.G. SenakaKelum, CMA Education and Training Committee Chairman H.M. Hennayake Bandara, CMA Consultant Examinations L.B. Wattegedara, CMA Vice President M.B. Ismail and CMA President Prof. Lakshman R. Watawala.
Watawala in his welcome speech said CMA Sri Lanka commenced its operations in June 2000, incorporated by an Act of Parliament in the year 2009 is given the due recognition as the national professional management accounting body in Sri Lanka.
CMA was admitted as a member of the South Asian Federation of Accountants (SAFA) in December 2009 and joins the fraternity of Professional Accounting bodies in India, Pakistan, Bangladesh, Sri Lanka and Nepal. CMA also received the Full Membership of the International Federation of Accountants (IFAC) in September 2014, which consists of 125 countries and the membership comprised of 164 member bodies with a total membership of more than 2.5 million accountants in public practice, education, government service, industry and commerce.
With the ever increasing demand for professional accountants and the government’s decision to give pride of place to local professional accounting bodies and the incorporation of CMA and making it the national professional management accounting body in Sri Lanka, a large number of students in Colombo and the outstations, who did not have an opportunity to become management accountants, were provided a strategic window of opportunity to contribute to the development of the accountancy profession in Sri Lanka. CMA has therefore taken the lead role in the development of inclusive professional education in Sri Lanka and is an eye opener for the private and public sector to consider and recognize CMA professionals for jobs in Sri Lanka.
Despite a Cabinet approval the government, corporate sector and state banks have still not included CMA Sri Lanka when advertising for vacancies in the finance and accounting fields. This needs to be rectified immediately and CMA trusts that the Deputy Minister will take up this matter with the authorities.
CMA is currently working closely with its stakeholders, the private and public sector and has signed many Memoranda of Understanding (MoU) to provide training for its students and also to recruit Sri Lankan management accountants. The management accountants’ role is a key to help sustain the growth of Sri Lanka’s economy and its status to be a leading global financial hub.
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