CMA Sri Lanka Graduation Ceremony 2017 on Friday

The Institutes of Certified Management Accountants of Sri Lanka, since its inception 17 years ago will be conducting the 14th Graduation Ceremony on 22 December at 9 a.m. at the Kingsbury hotel, Colombo 1. With this event CMA will recognise and present awards to students who have passed the examinations of CMA in November 2016 and May 2017. This will comprise of Diploma Certificate, Managerial Certificate, Strategic Certificate, CMA Passed Finalists, Associate Management Accountants and Associate Members, Fellow Members and Prize Winners.

The Chief Guest at the function will be Prof. Sampath Amarathunga, Vice Chancellor, University of Sri Jayawardhanapura and Guest of Honour will be Mahendra Jayasekara, CEO, Lanka Tiles PLC and Managing Director Lanka Wall tiles PLC.

CMA was launched 3 June 2000 as the professional management accounting body in Sri Lanka with financial assistance from the Canadian International Development Agency (CIDA) and technical assistance from the Society of Management Accountants of Canada and support from the Ministry of Industry and Commerce. CMA was incorporated by an Act of Parliament in the year 2009 and was given the due recognition as the National Professional Management Accounting Body in Sri Lanka. Incorporation of CMA and making it the National Professional Management Accounting body in Sri Lanka enabled a large number of students in Colombo and the outstations who did not have an opportunity to become Management Accountants, to be provided a strategic window of opportunity to study for the national professional management accounting qualification at an affordable cost and contribute to the economic development of Sri Lanka.

The cabinet approval of September 2014 was recently given effect to when the Secretary to the Treasury issued the Public Enterprises Circular No. PED02/2017 dated 21 August 2017 addressed to all Secretaries of Ministries, Chairmen of Government Corporations, Statutory Boards, Banks and Government Owned Companies to include CMA Professional qualification in the Schemes of Recruitment (SOR) for all financial executive posts similar to other professional accounting qualifications.

CMA in addition to the local recognition has received international recognition with the Full Membership of the International Federation of Accountants (IFAC) the global body for the accounting profession, South Asian Federation of Accountants (SAFA) the South Asian Regional Body for the accounting profession and the President of CMA serves on the Board of Directors of SAFA and Membership of the Confederation of Asian and Pacific Accountants (CAPA) the Asian and Pacific Accounting Body.  

At present there are over 2,500 Associate and Fellow Members. CMA provides the opportunity to students to qualify as Professional Management Accountants at a very affordable cost. Presently the CMA has a Council of eight distinguished professionals Chaired by Prof. Lakshman R. Watawala, who is a Past President of the Institute of Charted Accountants of Sri Lanka, South Asian Federation of Accountants and Founder President of AAT Sri Lanka.

The Department of Examinations of Sri Lanka conducts the examinations. 

A key role for the institute was the preparation of the syllabus with the assistance of consultants for the CMA Professional Programme 2018 and preparation of study material, pilot papers and educating all educational institutions on the new syllabus. To ensure that the students are given the best education and training and to make the CMA qualification recognised globally.

The institute also conducts continuing development programs (CPD) to keep members updated on the latest changes in Parliamentary Acts involved in assisting of the development of its members to be high calibre management accounting professionals across diversified business segments and end up as the automatic choice to head businesses and work in a multidisciplinary work environment.

Tomorrow’s accountants need to have a global mind set and be ready to serve the public or private sector and play a major role in the economic development of our country.