CMA Sri Lanka admitted as a member of CAPA

CMA Sri Lanka was admitted as a member of the Confederation of Asian and Pacific Accountants (CAPA) on 1 July, as announced by the Confederation of Asian and Pacific Accountants.

The announcement made by CAPA states: “CAPA is delighted to announce an addition to our membership with the admission of the Institute of Certified Management Accountants of Sri Lanka (CMASL).”

“The Institute was inaugurated in June 2000 and incorporated by an Act of Parliament in 2009, receiving recognition from the Government as the national professional management accounting body in Sri Lanka. CMASL has the authority to promote and develop the study of management accountancy, to establish and issue management accountancy standards, and to encourage the application of correct principles, techniques and practices of management accountancy.”

CAPA Chief Executive Brian Blood noted: “We are very happy to welcome CMASL to the CAPA family and hope that the organisation will find value through the network of CAPA members and other stakeholders that CAPA is associated with regionally and globally.”

Management accountants will face higher demand as businesses start to place more emphasis on strategic management issues to drive their business further in this competitive and challenging environment.

“Professional Accountancy Organisations (PAOs) such as CMASL will have a significant role to play in supporting management accountants, and in turn, will need support from the wider profession to achieve its objectives,” he added, including CMASL, CAPA now has three member PAOs in Sri Lanka. The other two member PAOs are the Institute of Chartered Accountants of Sri Lanka and the Association of Accounting Technicians of Sri Lanka (AATSL).

CMA Sri Lanka, which was incorporated by an Act of Parliament in 2009, is the national professional management accounting body in Sri Lanka and provides education at one-tenth the cost of foreign courses. It was established in 2009 and launched in June 2000 with the technical assistance of CMA Canada and the initial financial assistance of Canadian International Development Agency (CIDA).

CMA Sri Lanka is well-recognised in the international field and are members of the South Asian Federation of Accountants (SAFA), International Federation of Accountants (IFAC) the global body for accountants and the Confederation of Asian and Pacific Accountants (CAPA).