CMA signs MOU with Sri Lanka Foundation for strategic partnership

Tuesday, 16 April 2013 00:14 - - {{hitsCtrl.values.hits}}

Institute of Certified Management Accountants of Sri Lanka (CMA), the national professional management accounting body in Sri Lanka incorporated by an Act of Parliament No. 23 of 2009, comprising a student population of around 12,000 and a membership of 2,100 consisting of associates or ACMA and fellows or FCMA, signed a Memorandum of Understanding with the Sri Lanka Foundation (SLF) for a strategic partnership of mutual benefits to both organisations.

SLF is known to be the foremost adult education centre in Sri Lanka, established in 1974 consequent to an agreement between the SLF and the Friedrich Ebert Stiftung. Today, the SLF is on a stronger footing whereby it is regularised under an Act of Parliament, the Sri Lanka Foundation Law No. 31 of 1973.

The SLF functions autonomously under the purview of the Presidential secretariat and is managed by a Board. SLF offers a wide range of academic programs in dynamic fields namely, social and institutional development, psychology and counselling, business and enterprise management, language and ICT, digital film academy, tourism and hospitality management and centre for wellbeing.

All educational programs are accredited by the Tertiary and Vocational Commission of Sri Lanka.

This collaboration between the CMA and the SLF will help to pool the resources and interests of the two organisations and to work together in order to enhance their respective mandated objectives. The two partners will work towards a mutually beneficial partnership, with both organisations using each other’s facilities and resources to meet the cost of the investment. There are a number of initiatives that should be taken to make this partnership mutually beneficial such as; joint programs to develop the cost and management accounting profession with emphasis on both the private and state sectors, which will eventually enable many untapped markets to enter and foster the management accounting profession; conducting joint public lectures monthly; sharing of resources between the institutions; joint activities to enhance the profession; and hosting of foreign workshops and seminars.

This strategic partnership will enhance accessibility to many and open up multiple avenues at the national level to serve the country’s interest in the long run.