The Institute of Certified Management Accountants of Sri Lanka (CMA) the National Professional Management Accounting Institution incorporated by Parliament Act No.23 of 2009 held the orientation programme for CMA Passed Finalists 2017 on March 18, 2017 at CMA Auditorium, Colombo 4.
The President and Governing council with Chief Executive Officer and staff of CMA warmly welcomed all Passed Finalists of November 2016 examination and congratulated them on their success.
The key Note address was made by the President of CMA Prof. Lakshman R Watawala. There after Panel Discussion was commenced with panel members chaired by President CMA which was moderated by Adrian Perera President ACCA Sri Lanka / Member of the Council (CMA). D.S.W. Andradi – Retired Partner (SJMS Associates), spoke on “Ethics, Corporate Governance and Disciplinary Code”; Dr. Swineetha De Livera Director - Education & Examinations (CMA) then addressed the meeting explaining the methodology of “Applying for membership and submission of practical training”; Dr. W.G. Senaka Kelum Member of the Council (CMA) addressed the gathering on “Digital Technology for Future Accountants”.
Some of the main areas discussed were the “Role of CMA, membership of IFAC, SAFA and CAPA and the applicability of ethics, Governance and CPD for new members”.CMA is a member of the South Asian Federation of Accountants (SAFA), Confederation of Asian and Pacific Accountants (CAPA) and International Federation of Accountants (IFAC) the world body for professional Accountants. In today’s global and local context both in government and private sector more focus has been given to Management Accounting and the role of management accountant in decision making to improve productivity and efficiency in business activities. CMA passed finalists who have completed CMA practical experience to apply for CMA Associate Membership which enables them to use the designation “ACMA”.
With the combination of Completion of CMA exams with requisite practical experience component enables passed finalists to apply for membership. Passed finalists and members should adhere to “CMA code of ethics for professional Accountants”based on the IFAC Code of Ethics. CMA promotes the highest level of ethical and business standards, and encourage members and registered students to maintain best standard of professionalism and integrity of their employment they hold. CMA has adopted Code of Ethics based on IFAC Code of Ethics and it is mandatory for all members of CMA to observe in respect of the performance of professional services in Sri Lanka.
The panel discussed the importance of maintaining the Continuing Professional Development (CPD) to be up to dateon knowledge, competencies& skills required to perform the duties of the businessactivities with high quality in the public interest.
Dr. V. Sivalogathasan Head of the Department of the Management Studies (Open University of Sri Lanka) stated that OUSL offers exemptions upto level 5 of the BMS Degree for the CMA Diploma Level Students and also encouraged CMA Passed Finalists to do the BMS Degree Programme and the Masters Programmes offered by OUSL.
L.B. Wattegedara Consultant – Examinations (CMA) spoke on “CMA Recognition” and said that CMA members can now apply for secretarial practice. Also that the recognition to Government and State Corporation jobs was assured by the Cabinet approval of 2014.
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