CMA Sri Lanka now Globally recognised with Membership of the International Federation of Accountants (IFAC), SAFA and CAPA

Professor Helen Mason, the Group Academic Director of EDULINK Consultants, the company that runs Edulink International Campus, recently visited Sri Lanka to support the partnership offering innovative and exclusive collaborations with high ranking UK universities that will open up exceptional opportunities for Sri Lankan students in higher education.

Her visit to Sri Lanka also reinforces EDULNK’s commitment and support to the further development of the local campus and in their continuous endeavor to provide quality-driven British education through the affiliations of two top- ranked UK universities that has resulted in significant employment opportunities for students in Sri Lanka both locally and globally.

Prof.Mason said “Athough many students on campus study full time, we believe in giving young people the flexibility to work around existing jobs and family commitments in their own country whilst studying for world- class British degrees through our partner universities. We are currently offering Honours Degrees from The University of Greenwich and The University of Northampton. We also offer the SQA Higher National Diplomas that allows students the opportunity to progress to degrees from The University of Greenwich and Northampton”.

Best Practices in teaching: Prof. Mason explained that the degrees students earn while studying at EDULINK International Campus in Sri Lanka are exactly the same in terms of quality of teaching and the end qualification, as those earned by students in the UK.

She further commented “We work on bringing together UK and Sri Lankan expertise to produce the highest quality and latest teaching methodologies similar to those delivered by our partner universities.

Added Values that offer a widening range of career enhancements: Prof,. Mason also pointed out that soft skills are an essential part of a graduate’s armoury “The personal qualities that a student possesses will matter as much as their technical knowledge. How they present themselves each day, interact with colleagues, handle a discussion, deal with problems, and manage their time, all contribute to their success as a business professional. Understanding oneself and others, and adapting to and coping with their immediate surroundings are also necessary attributes for career progress .

In addition as well as detailing their qualifications and technical experience, they clearly need to convey their soft skills in their CV and use it to tell a story about themselves to showcase their wellrounded personalities, Ultimately this is what will make their CV stand out and get them the interview. Often in an interview applicants may have as little as five minutes to demonstrate why they should be hired. These skills require training and this is the training that we can offer to are all teachings we give our students.” ’

Collaborating to deliver the Best : Appreciating the work done by EDULINK International Campus in Colombo in promoting professional education in the country, Prof.Mason added that it was a pleasure to note the progress made by the Sri Lankan campus over the last few years. They have taken great strides in adhering to all aspects of creating professionalism in teaching and imparting knowledge backed by the skills to apply these lessons in the practical context that has produced some phenomenal graduates ..

Outlining future plans she said” The economic growth in Sri Lanka means there are great opportunities for us to increase accessibility to degrees from our top ranked UK universities partners to people of all backgrounds in Sri Lanka. In addition we will bring innovation in our qualifications and their delivery to meet the diverse needs of employers in the country. “

“As such, we intend to be a Campus that is at the forefront of providing high quality British education to the country. Our Sri Lankan Campus will support the flourishing education sector in Sri Lanka in meeting the current need to produce work-ready entrepreneurs and professionals who will be geared to facing and managing the challenges ahead in the global business landscape.”

(The Founder President Prof Lakshman R Watawala Gold Medal for the Best Overall Performance in 2015/2016 was awarded to Miss Angeline Dhevagunanesan by Chief Guest Hon. Rishad Bathiudeen - Minister of Industry & Commerce, Guest of Honour Prof. P.S.M. Gunaratne - Vice Chairman University Grants Commission of Sri Lanka (UGC), Prof. Lakshman R. Watawala - President CMA, Special Guest Dr. V. Sivalogathasan - Head of the Department of Management Studies, Open University of Sri Lanka (OUSL), Dr. W.G. Senaka Kelum-Chairman of the CMA Examination Committee.)

Hon. Rishad Bathiudeen Chief Guest at the 13th Graduation Ceremony of CMA Sri Lanka stated that CMA which is the National Professional Management Accounting body in Sri Lanka incorporated by an Act of Parliament under his Ministry has received Global recognition with membership of the International Federation of Accountants (IFAC) the Global Body for Professional Accountants, South Asian Federation of Accountants (SAFA) the Regional Body for Professional Accountants and Confederation of Asian and Pacific Accountants (CAPA) the Asian and Pacific body for Professional Accountants. I am happy that the Institute of Certified Management Accountants (CMA) of Sri Lanka is providing the much needed professional skills to our youth with prospects for good jobs and high salaries. Today CMA are also on par with the other Global Management Accounting Bodies and provide a quality education at an affordable cost.

The Institute of Certified Management Accountants of Sri Lanka, since its inception 16 years ago celebrated its 13th Graduation Ceremony on 15th December 2016 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 2015 and May 2016. This comprised Certificate in Accounting & Business Studies, Diploma in Accounting & Business Studies, Advanced Management Accounting and Business Studies, Strategic Level Examination Certificate and Final Examination Certificate. With 3 Years Practical Training & Viva Voce Examination Passed Finalists are granted the Associate Membership of The Institute of Certified Management Accountants of Sri Lanka (ACMA). On Completion of 5 years after award of ACMA membership and relevant CPD requirements members are entitled for Fellowship of the Institute of Certified Management Accountants of Sri Lanka (FCMA).

This occasion was graced by Chief Guest Hon. Rishad Bathiudeen, Minister of Industry & Commerce; Guest of Honour Prof. P.S.M. Gunaratne, Vice Chairman, University Grants Commission of Sri Lanka (UGC) & Special Guest Dr. V. Sivalogathasan, Head of the Department of Management Studies, Open University of Sri Lanka (OUSL); Prof. Lakshman R. Watawala President CMA, Dr. W.G. Senaka Kelum, Chairman of the Examination Committee ; Mr. H.M. Hennayake Bandara, Chairman of the Education & Training Committee and other distinguished invitees.

Hon Minister also stressed the importance of Government Institutions, state corporations and the private sector to recognize and recruit CMA qualified Management Accountants for the success of their operations as it is equivalent to the other professional accounting bodies and have obtained the same international recognition as both local and international Professional Accounting Bodies.

Management Accountants play a very strategic role in business and provides management information to the Board of Directors for effective decision making. CMAs are generally focused on the future of a business and not the past. Therefore if Industry & Commerce is to succeed, they should have well qualified Management Accountants working for them.

I am pleased to offer my congratulations to the certificate holders, new graduates this year while also extending my best wishes to the new Fellow & Associate members of CMA Sri Lanka for 2016.

CMA Sri Lanka today stands proudly as the exclusive National Professional Management Accounting Body with growing student strength of over 16000 and 2400 members. I am certain that these numbers will be greatly increased in the years to come.

I commend the institute for propagating the importance of the Management Accounting qualification to all parts of Sri Lanka. Today, the Institute has systematically spread its wings and expanding to all major cities across the country; thereby giving access to everyone to obtain an internationally recognized qualification at an affordable cost.

The institute offers a number of scholarships annually for deserving students who have excelled in their studies as well as those who need financial assistance and is yet another encouraging fact which shows CMA Sri Lanka’s commitment to inclusive education.

The Hon. Minister commended CMA for launching the Certified Hospitality Finance and Management Accounting Professional program for the Hospitality industry in association with the Hotel School under the Ministry of Tourism which is one of the fastest growing sectors in Sri Lanka and required well qualified management accounting professionals. The Minister invited the President CMA to start a similar program for the Cooperative sector which comes under the ministry of Industry and Commerce.

Prof. Lakshman R. Watawala President of CMA in his welcome speech said CMA Sri Lanka set up in 1999 with the Technical assistance of CMA Canada, launched its operations in June 2000 and was incorporated by an Act of Parliament in the year 2009 with the due recognition as the National Professional Management Accounting Body in Sri Lanka.

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, graduates and also those in employment who did not have an opportunity to become Management Accountants, were provided a strategic window of opportunity qualify as a Management Accountant and to contribute to the development of the Economy 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.

Prof. P.S.M. Gunaratne, Vice Chairman, University Grants Commission of Sri Lanka (UCG), the Guest of Honor mentioned, the role of Management Accountants in the government and the corporate world has been well established as an essential professional input for Good Governance, Code of Ethics, control and elimination of wasteful expenditure and for strategic decision making for growth and development of an organisation as well as a country.

Then UGC Vice Chairman Specially mentioned that by linking up with global bodies the CMA syllabus is in conformity with International Educational Standards and enables Sri Lankan students to obtain a quality professional management accounting qualification at an affordable cost. Also CMA saves valuable foreign exchange going out of the country. Moreover, it is noteworthy to mention that the Institute of Certified Management Accountants has throughout shown a keen interest of continuing professional development of its members, a mission beyond a mere educational institution.

He also said that it is indeed happy to see the close association maintained by the Institute with the local Universities providing those who have graduated and for the undergraduates an opportunity to enter the Professional Management Accounting field making them more suitable for employment in the private and public sectors. We would like to see that the institution’s links with the Universities strengthen further in the spirit of strengthening professional standards of university students by obtaining a valuable professional qualification, a definite plus for their future careers.

Dr. V. Sivalogathasan Head of the Department of Management Studies of Open University of Sri Lanka (OUSL) said CMA has signed an MOU with OUSL to provide exemptions to its students and do only the final two (2) levels of the BMS Degree programme for CMA students who have completed the CMA Managerial level which will enable CMA students to receive a double qualification with the professional management accounting qualification plus a recognized University Degree.

Dr. Senaka Kelum Chairman of the CMA Examination Committee highlighted the importance of Continuing Professional Development (CPD) for CMA Accountants and the importance of the Management Accounting Profession & the services given by the Management Accountant to the country which is an essential component under the good governance. Also that the examinations are conducted with the assistance of the Department of Examinations and thanked the Commissioner of Examinations and his staff for the valuable services rendered.

The Founder President Prof Lakshman R Watawala Gold medal Award for the Best Overall Performance for 2015/2016 was won by Miss Angeline Dhevagunanesan.

The Director Education & Examinations Dr. Swineetha De Livera delivered the vote of thanks.