Accredited as the largest and fastest growing global professional accountancy body, The Association of Chartered Certified Accountants (ACCA) Sri Lanka, signed a Memorandum of Understanding (MOU) with the University of Kelaniya recently.
The accounting profession today goes beyond numbers and balance sheets to a more holistic experience with its grip on business management and growth. In an attempt to assist our society in this endeavour, ACCA has recognised the importance of widening its reach to local university students and enhancing their skills to better cater to the needs of the current business arena.
The MOU places emphasis on the two educational bodies collaborating in the areas of professional accountancy training, education, examinations and continuing professional development.
Further, the MOU, which constitutes knowledge sharing, will give opportunities and invite and permit the participation of members of ACCA and the University of Kelaniya to take part in conferences, seminars, training programmes and workshops. These will be organized on areas of common interest and will be of mutual benefit to both ACCA and the University.They will also disseminate information in collaboration with each other, to students about the accounting profession and the opportunities available to accounting professionals.
Both ACCA and the University of Kelaniya expressed their confidence in the association between the University and ACCA. They both strongly believe those new beginnings such as MOU's where recognized professional accounting bodies join hands to impart their knowledge to students and the youth will be one of the key steps to undertake in contributing to the progress of the accounting profession and the key role that accountants will play in businesses in the future.
Professor Sarath Amunugama, Vice-Chancellor, University of Kelaniya emphasized that "Students will join research and knowledge exchange not just in the country but regionally and globally. It will be an opportunity for the ACCA and the university to strengthen our support of the accounting profession both in Sri Lanka and regionally.
Dr. Wasanthi Madurapperuma, Head, Department of Accountancy, University of Kelaniya said that the signing of the MOU "marks the beginning of an even stronger relationship between both organisations". This MOU covered a number of initiatives ranging from academic activities to many collaborative initiatives. Further she said that initiating faculty-industry partnership and strategic international partnerships with premier institutions are among the faculties' top priorities. Eventually outcomes of this MOU will accelerate "human-resource development and help to produce a highly skilled and productive workforce for the country".
Ms.Nilusha Ranasinghe, Head of ACCA Sri Lanka stated "Today accountants have a major role to play in businesses both locally and internationally and therefore they have to equip themselves with the latest knowledge in their respective fields of expertise. Accountants have played a supportive role in the past, which needs to be changed by asserting themselves by becoming 'Knowledge Leaders' to spearhead the transformation of today's businesses. Therefore the main objective of this MOU is to give the right opportunities to the future finance professionals in our endeavor to uplift the standard of this profession in the country."