Sri Lanka’s Amal Ratnayake FCMA, CGMA elected as 86th CIMA President
Canadian finance leader, S r i Lankan- born Amal Ratnayake FCMA, CGMA has been named 86th President of the Chartered Institute of Management Accountants (CIMA), the highest volunteer post of the world’s leading professional body for management accountants.
In May, Mr. Ratnayake was also confirmed as Chairman of the Association of International Certified Professional Accountants (the Association), the global accounting organisation formed by CIMA and the American Institute of CPAs ( AICPA) to advance the accounting profession worldwide, CIMA said in a media release.
As CIMA President, Mr. Ratnayake will represent 228,000 members and students across the world and be responsible to ensure the continued strength of the institute, which is celebrating its 100th anniversary this year. In his role as Association Chairman, he will also work to meet the needs of more than 657,000 public and management accountants and maintain the profession’s relevance to individuals, businesses and other stakeholders across 179 countries and territories.
The release said Mr. Ratnayake takes office as the work of accounting and finance professionals undergoes sweeping change. Technology is transforming everything from audits to the role of the CFO, requiring new skills and new ways of working.
On his appointment, Mr. Ratnayake said: “I am delighted to have been elected by my peers to serve as CIMA President and Chairman of the Association of International Certified Pro f e s s i o n a l Accountants, particularly at such a significant time for the profession. Our profession is now at crossroads, facing both new opportunities and challenges from digital disruption. To thrive, we must reimagine what we do and how we do it. We need to embrace new technologies and develop a digital mindset that complements our traditional finance and accounting skills."
Mr. Ratnayake became a CIMA member in 1993 and began volunteering with the Education and Training Committee of CIMA Sri Lanka soon thereafter. In 2004, whilst living in Canada, he joined the CIMA Canada Board and was appointed as Board Chair in 2012 and 2013.
He is currently Chief Financial Officer at The Official Community Corporation, an online event- driven brand management company for established recording artists, and previously held a number of senior finance roles for companies in Sri Lanka, Saudi Arabia and Canada.