CMA Sri Lanka signs MOU with Uva Wellassa University of Sri Lanka as Educational Partner

The Institute of Certified Management Accountants of Sri Lanka (CMA) and the Uwa Wellassa University of Sri Lanka signed a Memorandum of Understanding (MOU) at the Institute of Certified Management Accountants of Sri Lanka (CMA), paving path to the students of Uwa Wellassa University of Sri Lanka to obtain a recognised professional accounting qualification to specialise in Management Accounting while studying for the degree qualification. The MOU was signed by UWU Vice Chancellor Dr. C. Chandrasena and CMA Vice President M.B Ismail, in the presence of a gathering of officials of CMA which was initiated by Dean, Faculty of Management Dr. Imali Fernando.

From left: CMA Jinandhi Chandrarathna, CMA Madhushi Hapuarachchi, UVU Lecturer Madhuranga Kulathunga, UVU Faculty of Management Dean Dr. Imali Fernando, CMA Vice President M.B. Ismail, UVU Vice Chancellor Dr. C. Chandrasena, CMA Council Member Hennayake Bandara, CMA Consultant L.B. Wattegedara, CMA Director Education and Examination Dr. Swineetha De Livera, CMA Director Operations Sumudu Pagoda and Senior Manager Marketing Danuka Sirinama  

The Uva Wellassa University (UWU) of Sri Lanka was established by government gazette effective 1 June 2005 in Badulla. In establishing this university, a team headed by Professor H.P.M. Gunasena submitted a report followed by a further detailed concept paper prepared by the Coordinating Committee for the establishment of the Uva Wellassa University headed by Chandra Embuldeniya.

Based on this concept paper, which outlined a new model for the setting up of this university avoiding traditional pitfalls the UGC Chaired by Prof. B.R.R.N. Mendis cleared the way for this university. Chandra Embuldeniya was later appointed as Vice Chancellor effective 27 July 2005. The university has a strong concept based on the theme; value addition to the local resource base and supported by a young team of qualified lecturers ready to take off.

CMA was set up in 2000, with the technical assistance of CMA - Canada and was based on the guidelines of the international accounting bodies the Institute of Management Accountants of USA, the International Federation of Accountants (IFAC), which is the world body for Accountants and the Management Accounting bodies of the South Asian Federation of Accountants (SAFA).The Institute of Certified Management Accountants (CMA) of Sri Lanka was incorporated by the Act of Parliament No.23 of 2009 in April 2009.  

CMA is the National Professional Management Accounting Institution in Sri Lanka.  Since its incorporation in 1999 and launch in June 2000, CMA has steadily progressed to an Institute comprising over 15000 students and 2500 Members. CMA is a member of the International Federation of Accountants (IFAC) and the South Asian Federation of Accountants (SAFA).

CMA Vice President Basheer Ismail stated that in today’s global and local context both in government and private sector more focus has been given to Management Accounting as Cost and Management Accounting improves the performance of the business organisations enabling accountants to control costs and improve productivity and efficiency to make their products and services competitive.

Those who qualify at the CMA after obtaining relevant practical experience could obtain their membership which enables them to use ‘ACMA’ for Associate Certified Management Accountant and ‘FCMA’ for Fellow of Certified Management Accountant.

Special exemption policy has been developed for the undergraduates and graduates of the Faculty of Management at Uwa Wellassa University of Sri Lanka.

Students of Uwa Wellassa University can now register with CMA and obtain subject exemptions. Registration for May 2016 will be closed on 31 January 2016; contact CMA for further details. Please contact Sumudu Pagoda, Director Operations via 077-3742343 or e-mail: [email protected].