The Management Accountancy profession has come a long way in Sri Lanka, having spread its wings across many local sectors-then why not a management accountant for Sri Lankaโs widespread cooperative sector too, asked the Sri Lankan Minister in charge of Cooperative Policy on 15 December.
Minister of Industry and Commerce Rishad Bathiudeen, under whom Sri Lankan cooperative policy making is vested, was addressing the 13th graduation ceremony of Certified Management Accountants Sri Lanka (CMA Sri Lanka) at BMICH on 15 December. Joining Minister Bathiudeen were many leading Lankan CMAs as well as President of CMA Sri Lanka Prof. Lakshman R Watawela. CMA Sri Lanka falls under Minister Bathiudeenโs Industry and Commerce Ministry. It is the only National Professional Management Accounting institution in Sri Lanka which has been producing well rounded management accountants suited to Sri Lankan conditions.
โI am happy to note that CMA has been producing a unique breed of Professional Management Accountants to Sri Lanka since its inception in 1999. CMA under our Ministry stands proud as the exclusive Lankan Professional Management Accounting body with growing student strength of over 16000 membersโ said Minister Bathiudeen, and added: โI am certain that these numbers will be greatly increased in the years to come. I commend CMA Sri Lanka and its President Prof Lakshman Watawala for propagating the importance of the management accounting qualification to all parts of Sri Lanka.ย In early December, CMA under our Ministry commenced the Certified Hospitality Finance & Management Accountant (CHFMA). This is a sign of increasing acceptance of CMA across new sectors. Therefore today I call CMA to open a certification for our vital Cooperative Sector so that there will be a new breed of Cooperative Management Accountants in Sri Lanka making this sector more professional. This will be another pioneering initiative.โ
On December 5, CMA Sri Lanka introduced Sri Lankaโs first ever professional management accreditation for its surging tourism and hospitality sector called as โCertified Hospitality Finance & Management Accountant (CHFMA)โ qualification in Colombo.ย At the December 15th graduation ceremony of Certified Management Accountants (CMA) in Colombo, 300 new Lankan CMAs graduated-a number of them with distinctions. As for the Coop sector, more than 14500 cooperative societies are active across Sri Lanka in a wide range of businesses-from cottage industries, agro, dairy and poultry to transport, FMCG, fuel distribution and even hospitals (called Coop Hospitals). Minister Bathiudeenโs Ministry is in charge of policy making for the coop system and is also now in the final stages of the formulation of new National Cooperative Policy supported by International Labour Organisation (ILO).
Leader of All Ceylon Makkal Congress