Amal Ratnayake elected 86th President of CIMA | Daily News

Amal Ratnayake elected 86th President of CIMA

Amal Ratnayake
Amal Ratnayake

Canadian finance leader Amal Ratnayake FCMA, CGMA has been named 86th President of the Chartered Institute of Management Accountants (CIMA), the highest volunteer post of the world’s leading professional body for management accountants. In May, Ratnayake was also confirmed as Chairman of the Association of International Certified Professional Accountants (the Association), the global accounting organization formed by CIMA and the American Institute of CPAs (AICPA) to advance the accounting profession worldwide.

As CIMA President, Ratnayake would represent 228,000 members and students across the world and be responsible to ensure the continued strength of the Institute, which is celebrating its 100th anniversary this year. In his role as Association Chairman, he would also work to meet the needs of more than 657,000 public and management accountants and maintain the profession’s relevance to individuals, businesses and other stakeholders across 179 countries and territories. Ratnayake takes office as the work of accounting and finance professionals undergoes a sweeping change. Technology is transforming everything from audits to the role of the CFO, requiring new skills and new ways of working. In the Association’s own Future of Finance research, for instance, more than 50 percent of finance leaders globally said the competencies of their teams must change significantly over the next three years[1]. On his appointment Ratnayake said: “For more than a century, we have been developing highly-qualified global finance professionals, but we have also witnessed drastic technology-led changes in the world of business and finance. Our profession is now at crossroads, facing both new opportunities and challenges from digital disruption”.

“To thrive, we must re-imagine what we do and how we do it. We need to embrace new technologies and develop a digital mindset that complements our traditional finance and accounting skills.”

Sri Lankan born Ratnayake, became a CIMA member in 1993 and began volunteering with the Education and Training Committee of CIMA Sri Lanka soon thereafter. In 2004, whilst living in Canada, he joined the CIMA Canada Board and was appointed as Board Chair in 2012 and 2013.

“For more than a century, we have been developing highly-qualified global finance professionals, but we have also witnessed drastic technology-led change in the world of business and finance. Our profession is now at crossroads, facing both new opportunities and challenges from digital disruption.

“To thrive, we must reimagine what we do and how we do it. We need to embrace new technologies and develop a digital mindset that complements our traditional finance and accounting skills.”


 

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