Page 31 - 2596-CA SR Lanka- Annual Report 2022

CA Sri Lanka’s Commitment Member reciprocal arrangements with
CA Sri Lanka offers a world-class value proposition to its members. CA membership is The Institute of Chartered Accountants
unparalleled in its ability to open career pathways both in Sri Lanka and overseas, thus in England and Wales (ICAEW), CPA
making it the most coveted professional accreditation for finance professionals in Sri Australia and the Chartered Accountants
Lanka. Australia and New Zealand (CA ANZ)
are all landmarks in the Institutes efforts
The CA Sri Lanka membership remains the ultimate professional achievement for an to open up more opportunities for dual
accountant in Sri Lanka. Admission to the membership is offered in two tiers - ACA membership.
and FCA, with both journeys fundamentally based on the in-depth study into areas
of Accounting, Financial Management, Auditing and Taxation followed by 03 years of Similarly, CA Sri Lanka recently
supervised practical training under the guidance of CA accredited training partners. ACA established Mutual Recognition
and FCA members are conferred by the CA Sri Lanka Governing Council while adhering Arrangements (MRA) with Association
to CA’s Code of Ethics and continue to lead the way in exemplifying the principles of of Chartered Certified Accountants
accountability and integrity across both the public and private sector. Moreover CA (ACCA - UK) and Chartered Institute of
is fully invested in supporting the Continuous Professional Development (CPD) of its Management Accountants (CIMA-UK)
members in turn ensuring CA membership retains its relevance and global status in the which paved the way for CA members
context of changing times. to obtain dual membership of ACCA or
CIMA and vice versa. In September 2022,
CA Sri Lanka signed an MRA with ACCA
with the objective of establishing mutual
co-operation between two institutions
Conferred on members who have gained the
Associate requisite skills, knowledge, experience and training and formalise a reciprocal membership
Chartered in Accounting, Financial Management, Auditing and scheme. Through this arrangement, ACCA
Accountant (ACA) Taxation. members and CA members who have
more than 5 years of post-membership
experience will have the opportunity to
obtain direct membership of both bodies.
A total of 31 ACCA members were eligible
The highest level of membership conferred by the to obtain CA membership through this
Council of the Institute of Chartered Accountants MRA arrangement as at the reporting
of Sri Lanka. FCA standard scheme is considered date. The MRA with CIMA-UK is in the
Fellow Chartered an expert professional in fields of accounting and process of being finalised and is due to be
Accountant (FCA) finance and has to complete 120 hours of CPD over signed by early 2023.
5 years. The special FCA scheme is considered as
an uninterrupted 15 years of membership along with
a minimum of 20 CPD hours for the previous year.

A Relevant Continuous Code of Ethics Career Member
and Respected Professional Pathways Engagement
Qualification Development
and Technical
Support
Value to
Members

CA SRI LANKA | Integrated Annual Report 2022 29