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Tue, 05/01/2016 - 22:02

CMA Sri Lanka Convocation 2015


CMA Sri Lanka Convocation 2015

Seated : Left to Right

Dr. (Mrs.) Swineetha De Livera (Director – Education & Examinations [CMA Sri Lanka]); Mr. K.M.H. Bandara, Commissioner of Examinations (Technology Branch - Department of Examinations of Sri Lanka); Mr. W.A.A.D. Perera (Council Member-CMA Sri Lanka), Mr. M.H. HennayakeBandara (Council Member-CMA Sri Lanka),   Guest of Honour, Dr. W. Hilary E. Silva (Director General - Sri Lanka Institute of Advanced Technological Education [SLIATE]); Chief Guest, Hon. Dr. Harsha De Silva (Deputy Minister – Foreign Affairs); Prof. Lakshman R. Watawala (President – CMA Sri Lanka); Mr. M.B. Ismail (Vice President – CMA Sri Lanka); Dr. W.G. SenakaKelum(Council Member-CMA Sri Lanka), Mr. M.R.A. Perera (Council Member-CMA Sri Lanka); Mr. L.B. Wattegedara (Consultant-Examinations [CMA Sri Lanka]); Mrs. Sumudu Pagoda (Director Operations – CMA Sri Lanka).


The Institutes of Certified Management Accountants of Sri Lanka, since its inception 15 years ago celebrated its 12th Graduation Ceremony on 21st December 2015 at the BMICH. With this event CMA moved another milestone and recognized and presented awards to students who have passed the examinations of CMA in November 2014 and May 2015. This comprised of Certificate of Computerized Accounting (CCA) Holders 16, Associate Management Accountants designation recipients 50,Foundation Level 529, Operational Level 239, Managerial Level 156, Strategic Level 98, CMA Passed Finalists 78 and overall Associate Members 89, Fellow Members 6, Scholarship holders10 and Prize Winners 35.


This occasion was graced by Chief Guest Hon. Dr. Harsha De Silva, Deputy Minister of Foreign Affairs; Guest of Honour Dr. W. Hilary E. Silva, Director General, Sri Lanka Institute of Advanced Technological Education (SLIATE), Ven. MettaVihari Denmark, Patron of Dharmavahini Foundation; Mr. K.M.H. Bandara, Commissioner of Examinations (Technology Branch), Department of Examinations of Sri Lanka;Dr. W.G. SenakaKelum,Chairman of the Examination Committee(CMA);Mr. H.M. HennayakeBandara,Chairman of the Education & Training Committee (CMA), Mr. L.B. Wattegedara Consultant – Examinations (CMA), Mr. M.B. Ismail Vice President  CMA and Prof. Lakshman R. Watawala President CMA.

Prof. Lakshman R. Watawala President of CMA inhis welcome speech said CMA Sri Lanka commenced its operations in June 2000, incorporated by an Act of Parliament in the year 2009 is given the due recognition as the National Professional Management Accounting Body in Sri Lanka.


CMA was admitted as a member of the South Asian Federation of Accountants (SAFA) in December 2009 and joins the fraternity of Professional Accounting bodies in India, Pakistan, Bangladesh, Sri Lanka and Nepal. CMA also received the Full Membership of the International Federation of Accountants (IFAC) in September 2014 which consists of 125 countries and the membership comprised of 164 member bodies with a total membership of more than 2.5 million accountants in public practice, education, government service, industry and commerce.


With the ever increasing demand for professional accountants and the government’s decision to give pride of place to local Professional Accounting bodies and the incorporation of CMA and making it the National Professional Management Accounting body in Sri Lanka a large number of students in Colombo and the outstations who did not have an opportunity to become Management Accountants, were provided a strategic window of opportunity to contribute to the development of the accountancy profession in Sri Lanka. CMA has therefore taken the lead role in the development of inclusive professional education in Sri Lanka and is an eye opener for the private and public sector to consider and recognize CMA professionals for jobs in Sri Lanka.


Despite a cabinet approval the government, corporate sector and state banks have still not included CMA Sri Lanka when advertising for vacancies in the finance & accounting fields. This need to be rectified immediately and trust that the Hon. Deputy Minister will take up this matter with the authorities.


We are currently working closely with our stakeholders the private and public sector and have signed many MOU’s to provide training for our students and also to recruit Sri Lankan Management Accountants. The Management Accountants role is a key to help sustain the growth of Sri Lanka’s economy and its status to be a leading global financial hub.


A key role for the institute will be to prepare its role as the administrator of the CMA qualification programme and to ensure that the students are given the best education and training and to make ourqualification recognized globally.


The institute is also involved in assisting of the development of its members to be high caliber accounting professionals across diversified business segments and automatic choice to head business and work in a multidisciplinary work environment.


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


Therefore professional management accountants passing out today and those who are still continuing their studies are the future leaders of our country amply equipped with skills, integrity, high values and standards and ready to serve both the private and public sectors.


Hon. Dr. Harsha De Sliva the Chief Guest in his address spoke of the importance of Management Accountancy and its role in Private & Public Sectors. Also the importance of recognizing the CMA qualification as equivalent to the accounting of CA-Sri Lanka, CIMA-UK& ACCA-UK. The recognition of CMA should come 1stbefore recognition of the foreign qualification under various service agreements with foreign countries.


He stated that under the India - Sri Lanka revised agreement, professionals from India will not be permitted to come freely to Sri Lanka. He also referred to the statement made by Prof Lakshman R Watawala regards the non-inclusion of the CMA Sri Lanka qualification for recruitment to the government and state corporation sector and said that this should be done before we permit foreign professionals to be recognized in our country.


The Deputy Minister also referred to the great role played by CMA in providing educational opportunities for the youth and congratulated all those who have passed the final exam, those receiving membership, and students who were receiving Certificate n Diploma certificates.


Guest of HonourDr. W. Hilary E. Silvain his speech highlighted the importance of Management Accounting for the Economic Development & the role of CMA as the national professional management accounting institute.

He commended the Institute for propagating the importance of this qualification which was recognized to every part of Sri Lanka. Today, the Institute has systematically spread its wings to major cities across the country; thereby giving access to everyone.


He stated that he is proud to mention, Sri Lanka Institute of Advanced Technological Education (SLIATE) entered into a MOU with CMA providing opportunities to the SLIATE Higher National Diploma (HNDA) holders to become Professional Management Accountants obtaining subject exemptions from CMA for their HNDA qualification.


He said the fact that the institute offers a number of scholarships annually for students is yet another encouraging fact and it also shows CMA Sri Lanka’s commitment to ensure hardships should not prevent students from being good professionals.


He thanked CMA for granting scholarships for the HNDA students with outstanding performance & needy students&also for assisting to obtain places of training to undertake practical training for HNDA students who have registered to do CMA study program.



Mr. M.H.N. Marikkar, President Award Winner for best overall performance Nov’14 was given the opportunity to address gathering and in his speech he mentioned the CMA Study Programme helped him to climb step by step in the corporate ladder and uplifted his professional life having solid knowledge in the subjects of Management Accounting, Financial Accounting & Business Management streams. Confidence & knowledge gained through completing CMA exams helped him to apply concepts in the practical working environment in a systematic manner. He further said, with his busy tight schedules in office environment, he could perform to receive gold medal award for the best overall performance purely by using the CMA comprehensive study text materials along with past papers & answers and attending to the Strategic Level &Integrative Case Study (ICS) classes at the final level conducted by CMA Institute.


The Director Education & ExaminationsDr. (Mrs.) Swineetha De Livera delivered the vote of thanks as final speech thanking Chief Guest Dr. Harsha De Silva and Guest of Honour Dr. W. Hilary E. Silva, for sharing valuable thoughts about the Institute and distributing the awards. She also said Prof. Lakshman R. Watawala, the President of CMA, deserves, our gratitude, for being the, Founder President, in setting up the CMA, and providing the leadership, in developing the institute, for what it is today. We are proud to mention, that CMA institute stands today with 17,000 students and 2,400 members who are capable of contributing to the, economic development, of our country. Also she offered the gratitude to Council Members & staff of CMA and all other stakeholders who graced this occasion and contributed to the success of the Graduation Ceremony 2015.