The Association of Chartered Certified Accountants (ACCA) and the Institute of Certified Management Accountants (CMA) of Sri Lanka recently renewed their Memorandum of Understanding (MOU). This renewed partnership marks a significant step in advancing the skills and capabilities of finance and management accounting professionals in Sri Lanka, supporting the nation’s evolving business environment and contributing the economic development of Sri Lanka.

The renewed MOU reinforces the shared commitment of ACCA and CMA to advancing excellence in the accounting profession. By working together, ACCA and CMA will continue to support initiatives that provide their members with access to valuable resources, mentorship, and networking opportunities, helping professionals navigate the rapidly changing landscape of finance, technology, and global business trends.

Speaking on the occasion of the MOU renewal, Nilusha Ranasinghe Head of South Asia , ACCA highlighted, “this renewed collaboration will not only help enhance the skills of professionals across accounting, finance, and business management but also contribute to the continued growth and development of Sri Lanka’s financial and corporate sectors. The partnership will focus on promoting best practices in accounting, incorporating the latest technological advancements, and encouraging the adoption of ethical and strategic business practices.

Commenting on the renewed international collaboration, Prof. Lakshman R. Watawala President- CMA Sri Lanka said, “We are delighted to extend our partnership with ACCA, which is a key driver in advancing the accounting profession locally. This MOU renewal reflects our collective commitment to providing Sri Lankan management accounting professionals to further strengthen the global skills and expertise with the flexibility to excel in an increasingly interconnected and competitive world. Through this partnership, we aim to ensure that Sri Lankan management accounting professionals are not only ready for the future but also poised to lead in the global marketplace.

Both organizations are committed to offering various professional development opportunities, certifications, and collaborative initiatives especially the new developments of sustainability accounting standards and artificial intelligence through this partnership. Together, ACCA and CMA will continue to play a vital role in enhancing the professional standards of Sri Lanka’s management accounting community and supporting the country’s growth and development within the global financial ecosystem.