CMA signs MOU with Mercantile Investment and Finance as Accredited Practical Training Partner

Tuesday, 22 July 2014 00:24 - - {{hitsCtrl.values.hits}}

The Institute of Certified Management Accountants (CMA), the National Professional Management Accounting Institution in Sri Lanka incorporated by Act of Parliament No. 23 of 2009, signed an MOU with Mercantile Investments and Finance PLC, which has gained a reputation for close to five decades as a financially-strong enterprise, serving customers from every walk of life to fulfill their financial aspirations. CMA has over 12,000 students and 2,000 members. CMA is a member of South Asian Federation of Accountants (SAFA) and a member of International Federation of Accountants (IFAC), which is the world body of professional accountants. Mercantile Investment is considered a force to reckon within their field of business with a total capital base that exceeds Rs. 6 billion and an asset base of over Rs. 23 billion. Their consistent financial performance over the years has enabled Mercantile Investment to possess this strong capital structure and retain their position as a financially strong institution in all respects. All of these have been achieved on the foundations of Mercantile Investments strong fundamentals and stability wrought over many years of exemplary governance and adherence to good ethics. Mercantile Investment’s paramount growth in both lending and deposit business that stood over 15% and 30% respectively in the last concluded financial year reflects their commitment in serving their customers yet again. This MOU will provide CMA students 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 national and international levels.