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Tue, 11/08/2015 - 20:27

CMA Sri Lanka receives Global Recognition from IFAC

CMA Sri Lanka the National Professional Management Accounting Body in Sri Lanka received recognition as a Full member of the International Federation of Accountants the Global Body for Professional Accountants. The event was marked with the visit of the IFAC President Ms Olivia Kirtley when she presented the Membership Certificate in the presence of H. E. Maithripala Sirisena President  of the Democratic Socialist Republic of Sri Lankaof Sri Lanka to Prof. Lakshman R Watawala the President of CMA. The President of IFAC was the Key Note speaker at the inauguration of the CMA Global Management Accounting Summit held recently.

CMA which was incorporated in 1999, launched its activities in June 2000 and was incorporated by an Act of Parliament in 2009 and received the Government recognition as the National Professional Management Accounting body in Sri Lanka. In 2010 CMA received the Associate Membership of IFAC and became a full member in November 2014.

CMA now joins the Global membership of IFAC spread over 130 countries and jurisdictions with 175 members and representing app. 2.84 M accountants.

The CMA qualification is an affordable, locally and globally recognized professional qualification, which has opened doors to all who wish to become Professional Management Accountants.

The CMA Professional Qualification is a course specializing in Strategic Management Accounting leading to produce professional Certified Management Accountants. CMAs are generally focused on the future of a business and not the past. They use financial, management and other information to direct strategic and operational decision making targeted at helping organizations move forward.

CMA's earn their professional designation through a rigorous and highly specialized accreditation process. This will include a Four Level examination structure with a final level Integrative Case Study and a three year practical training requirement.

CMA’s are employed in industry, business, commerce, government, education and consultancy and provide professional education, training and examinations. CMA has recognised employers providing training to the students and the qualification is endorsed by employers, institutions and foreign accounting bodies and universities.

While CMA’s contribute to add value to the economies, they also contribute in no small measure to develop the small and medium enterprises and the Government sector.

CMA was formed with the technical assistance of CMA Canada and has signed memorandum of understandings with CPA Australia, MIA Malaysia, Cost Accountants of India. Management accounting bodies of Pakistan and Bangladesh and also with a number of universities in Sri Lanka to obtain a degree program from the Open University of Sri Lanka and the MBA from the Post Graduate Institute of Management.