The Institute of Certified Management Accountants of Sri Lanka (ICMA) was launched with the objective of opening a professional opportunity for students who are unable to enter a university or an employee seeking higher prospects in his/her respective field, said the founder and President of Institute of Certified Management Accountants of Sri Lanka, Prof. Lakshman R. Watawala.
He was speaking at the launch of ICMA Sri Lanka at Hotel Taj Samudra on Tuesday.
He said that providing a better management education in Sri Lanka at an affordable price was also one of the objectives of setting up the Institute of Certified Management Accountants of Sri Lanka (ICMA). Therefore, the education and training received by the student will cater to the business needs in today s world.
Thus the money spent on foreign education would be retained in Sri Lanka with recognition from the Government and its approval, he said.
The Institute of Certified Management Accountants of Sri Lanka was set up in 1959 and was approved by an Act of Parliament and given assent by the Speaker, W.J.M. Lokubandara on April 20 under Act No.23 of 2009. The trilingual courses will cater to every Sri Lankan, Prof. Watawala said. In response to a question on the impact of other foreign institutes such as Professional South Asian Management Accounting Bodies, the Institute of Cost and Management Accountants of India, Institute of Management Accountants of Pakistan on ICMA Sri Lanka, Prof. Watawala said that the connection with foreign institutes would enrich the quality of education delivered by ICMA with the support of foreign lecturers. It will also enable ICMA Sri Lanka to compare itself with the regional institutes.
The courses will be in academic and practical based with a professional quality of education. The fee will be only one-tenth of the fee spent on foreign institutes.
Five professionals received the CMA Award for Excellence in Business Management on the same occasion.