The Institute of Certified Management Accountants of Sri Lanka (CMA) and the University of Colombosigned a Memorandum of Understanding (MoU) at the University of Colombo on October 6, paving the path way to the undergraduates of University of Colombo to obtain a recognized professional accounting qualification specializing in Strategic Management Accounting and Financial Accounting while studying for the degree qualification.
The MoU was signed by the Vice Chancellor of the University of Colombo, Professor Laksman Dissanayake and the President of CMA Professor Lakshman R. Watawala in presence of the gathering of council members, officials of CMA and the Heads of departments, lecturers and students of University of Colombo. Dr. R. Senathiraja Dean at the Management Faculty and Dr. A.A.C. Abeysinghe Head of the Department of the Faculty of Management and Finance of University of Colombo initiated this signing of the MoU while CMA was represented by Basheer Ismail Vice president, Hennayake Bandara Chairman Education and Training committee, Kosala Dissanayake CEO CMA, Dr. Swineetha de Livera Director education and Examinations and L.B. Wattegedera Consultant.
University of Colombo, Sri Lanka established under the Universities Act No.16 of 1978 and its subsequent amendments with its regulated office at Cumaratunga Munidasa Mawatha, Colmbo-03 is the first University in Sri Lanka.
Prof. Laksman Dissanayake Vice Chancellor stated that his ambition is to bring the university upto the world class level and he added that currently the University of Colombo has been placed within the top 980 Universities in the world by the Times Higher Education World University Rankings 2016 - 2017.
He explained his interest in linking the university to a broader society addressing the needs of the people. In line with the intention, he stated that arrangements have already being finalized to start 2 new faculties in the fields of Technology & nursing expanding the contribution to the nation.
He also said, signing the MoU with CMA, develops closer relationship & provide a stronger platform to work together in enhancing the Accounting Profession which will also benefit the university students who will be able to get a professional management accounting qualification in addition to their degree.
Dr. A.A.C. Abeysinghe, Head of the Department of Accounting explaining the purpose of signing the MOU, stated that university and professional bodies together are engaged in fostering the accounting profession.
CMA is incorporated under the Ministry of Industry and Commerceand is a full member of the International Federation of Accountants (IFAC) the world body for professional Accountants. CMA arealso members of South Asian Federation of Accountants (SAFA) and Confederation of Asian and Pacific Accountants (CAPA).
Speaking at the event, Professor Watawala President CMA said with the signing of MOU, accounting academics and accounting professionals collaborate to enhance and promote the management accounting profession in the country.
This MoU paves the way for the academic staff attached to the Department of Accounting of University of Colomboto serve as resource personnel in the activities organized by CMA aiming to develop the accounting profession. Both parties jointly agreed to undertake research work relating to accounting& other business related topics.
This MoU will be another momentous step forward to strengthen the Management Accounting Profession by the collaboration between Management & Finance faculty of the University of Colombo and CMA.
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