Comments /312 Views / Wednesday, 11 January 2017 00:00
Members of the Institute of Certified Management Accountants of Sri Lanka (CMA Sri Lanka) have been approved to register as Company Secretaries. This amendment is based on a decision made by the Cabinet on 4 September 2014 when approval was granted for the recognition of the CMA qualification for the purpose of functioning as a Company Secretary.
The Cabinet decision also equated the CMA qualification to those given by CA Sri Lanka and the two foreign accounting bodies operating in Sri Lanka - CIMA UK and ACCA UK. The decision also validated the qualification’s use in recruitment to the Sri Lanka Accounting Service and Sri Lanka Audit Service as well as including it in the schemes of recruitment to Government corporations, state-owned businesses and state banks.
CMA Sri Lanka was set up with technical assistance from CMA Canada, now CPA Canada, in 1999 and was incorporated by an Act of Parliament. It is a national professional management accounting body in Sri Lanka.
CMA members are also affiliated to the International Federation of Accountants (IFAC), the global body for the accountancy profession, the South Asian Federation of Accountants (SAFA) and the Confederation of Asian and Pacific Accountants (CAPA).
As a result of these Cabinet decisions, 2,400 members of CMA Sri Lanka will now enjoy both local and global recognition and have received official recognition for their qualification on par with other local and international professional accounting bodies operating in Sri Lanka, enabling them to play a lead role in Financial and Cost Management Accounting and to contribute to the Economic Development of Sri Lanka.
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