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Historic MOU signed between ACCA Sri Lanka and CA Maldives

ACCA (the Association of Certified Chartered Accountants) which currently has over 219,000 members along with half a million students enrolled making it the largest body of such kind for accounting professionals, is a qualification accepted worldwide in over 179 countries for its quality driven curriculum and professional development activities .

ACCA has engaged with many institutions worldwide to enhance their high standards of learning, with the most recent of such MOU’s signed recently between ACCA Sri Lanka and CA Maldives. The MOU was officially signed by President of CA Maldives and Auditor General Mr. Hussain Niyazy and Head of South Asia Cluster at ACCA Ms. Nilusha Ranasinghe.

Through this MOU, opportunities are opened up for the mutual benefit and development of both institutions, covering the expertise and experience shared on professional development in aspects of training, education and career guidance and will also facilitate the exchange of knowledge and research related to the profession, which will in turn strengthen good governance practices that will help uplift the profession in both countries.

The parties will advocate for each other’s qualifications and use their own channels to promote their partnership and raise awareness and promote advocacy of respective initiatives and programs to reflect the distinct but complementary roles played by professionals in the fields of accounting. Overall, this partnership is definitely in favor of and adds to the development of business and finance professions in both Sri Lanka and the Maldives.

Giving his thoughts on the MOU, Auditor General Mr. Hussain Niyazy stated “ the key aim of this MOU is to help aspiring students and finance professionals not only to attain mastery over the subject but be trained to handle finance and accounting as per international standards and we will work together towards co-operation in respect of professional training, education and examinations. ACCA is also the global equivalent of Chartered Accountant (CA) qualification and will thus be promoted as the professional course of choice for those looking at international careers in accounting or finance. In addition, we will explore opportunities to collaborate on using our collective expertise to conduct activities related to environmental, social and governance (ESG) and diversity, as well as help advance the role and impact of effective corporate governance and public trust.

Speaking at the ceremony, Vice-President of CA Maldives, Mr. Hasan Mohomed emphasized that “ACCA as the world’s largest body in Accounting, would help our students learn the most sought-after skills in the area of Accounting & Finance and will thus improve their employability opportunities not just in Maldives but in several countries across the world. As such we will utilize this MOU to build, support and develop the membership of both professional bodies, engage in capacity building for the profession in both countries and help strengthen employer recognition.”

Head of South Asia Cluster, ACCA, Ms. Nilusha Ranasinghe added “This MOU builds on an already strong working relationship with CA Maldives and we look forward to our ongoing collaboration together. As the global body for professional accountants, ACCA is committed to finding innovative approaches to open up the profession and promote global standards. By partnering with CA, we believe that the finance professional and members of both bodies and both countries can benefit from being part of a truly global network backed by strong local expertise. Together we can harness and uplift the standards of the profession and also attract and develop the accounting talent the world needs.”

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