CMA signs MOU with NDB Group as Accredited Practical Training Partner

Wednesday, 3 September 2014 00:00 - - {{hitsCtrl.values.hits}}

CMA was incorporated by Act of Parliament No. 23 of 2009 and signed an MOU with NDB Group. It 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).

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 Ac-countants (SAFA) and an Associate Member of International Federation of Accountants (IFAC). CMA has over 18,000 students and 2,200 members. NDB Group is one of the largest financial conglomerates in Sri Lanka. Equipped with novel, client centric financial instruments, they are geared to meet the diverse financial needs of a widespread client base. Since its inception as a development finance institute in 1979, today NDB has evolved into a leading banking conglomerate synonymous with quality, stability and robust performance. NDB Group differentiates itself with the facilitation of an integrated value proposition in banking and financial services; including SME lending, project financing, capital market and wealth management offerings. Providing a broad spectrum of appropriate, responsible financial solutions along with timely advice and guidance; has earned NDB a unique position in the current resident banking landscape. They place significance on their continuing relationships and remain committed to empower their stakeholders towards prosperity; while enabling sustainable national economic development. This MOU will provide CMA students an opportunity to obtain practical training in the Management Accounting & 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.