CMA signs MoU with Maritime Placements as an accredited practical training partner

Tuesday, 16 December 2014 01:06 - - {{hitsCtrl.values.hits}}

The Institute of Certified Management Accountants of Sri Lanka (CMA) and Maritime Placements Ltd. have signed an MoU certifying MPL to act as an accredited practical training organisation for CMA students. CMA was set up in 2000, with the technical assistance of CMA Canada and was based on the guidelines of the international accounting bodies the Institute of Management Accountants of USA, the International Federation of Accountants (IFAC), which is the world body for accountants and the Management Accountants of the South Asian Federation of Accountants (SAFA). CMA was incorporated by Parliament Act No. 23 of 2009 and this created history in the accounting world, when after 50 years since the incorporation of the Chartered Institute a new professional management accounting body was incorporated and given government recognition. CMA is now a member of the South Asian Federation of Accountants (SAFA) and a member of the International Federation of Accountants (IFAC). CMA has over 18500 students and 2300 members.

MPL, which started under the name Maritime International Ltd, was the first local placement agency in Sri Lanka (1978), the pioneer company within the group. This company set the benchmark in local placements and has maintained its standards of service to be recognised as the best in people’s placement even today. Over the years, MPL has worked with over 5000 clients providing placement services of a very high standard. Due to the economic growth, of this country over the past 32 years, it was imminent that competitors would enter the market and currently there is a very large base of local placement companies. However, MPL holds the unique distinction of being the pioneer and market leader in local placements and continues to provide a very valuable service to Sri Lankan organisations for more than 35 years. It was MPL that set the standards and paved the way for local placements to thrive as a business in Sri Lanka. The core business of MPL is local placements and outsourcing staff and other value added services. Its clientele consists of national and multinational companies. This MoU will provide CMA students with an opportunity to obtain practical training in the management accounting and finance field from a recognised business organisation which will give them a foundation to progress in their career and obtain their membership. The CMA practical experience component is an essential part of the CMA program and has been developed in accordance with the international standards of the International Federation of Accountants (IFAC), the world body for professional accountants operating to meet the growing demands of competitive organisations at both the national and international levels.