Financial professionals in Sri Lanka set to benefit from mutual recognition agreement

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and ACCA (the Association of Chartered Certified Accountants) have entered a Mutual Recognition Agreement (MRA) allowing members from one body to apply directly for membership of the other.

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and ACCA (the Association of Chartered Certified Accountants) have entered a Mutual Recognition Agreement (MRA) allowing members from one body to apply directly for membership of the other.
The MRA was signed by ACCA’s Chief Executive and CA Sri Lanka’s President and Vice President at a ceremony on 26 September 2022 at CA Sri Lanka’s Auditorium in Colombo. The MRA provides a direct route to membership for ACCA and CA Sri Lanka members, without any additional examination or practical experience requirements.
ACCA global Chief Executive, Helen Brand OBE, commented: “We’re committed to supporting and building a strong and resilient economy in Sri Lanka and this agreement is an important step in bringing together the people to achieve this. “The MRA also brings equality of professional standing between ACCA and CA members and that’s a huge step forward in supporting members’ career progression.”
CA Sri Lanka members will benefit from the global recognition that comes with being an ACCA member, and ACCA members will benefit from employer recognition in Sri Lanka, being able to access practicing rights on completion of additional requirements.
Dulani Fernando, CEO CA Sri Lanka, said: “CA Sri Lanka and ACCA will continue to work together in areas that benefit both the profession and its mutual members. These areas will include research and publications, public sector development activities, events and CPD.”  
The MRA follows a Strategic Partnership Agreement (SPA) signed in December 2020 by the two bodies to strengthen collaboration and is a mutual recognition of the high standard of each other’s qualifications.
Nilusha Ranasinghe, Head of South Asia, ACCA, said: “This MRA will bring substantial opportunities for members of both bodies and demonstrates the value of professional bodies collaborating to explore synergies for the benefit of the profession and the wider public good.”

CA Sri Lanka has 37,500 members and future members. 

ACCA has approximately 5,600 members and future members based in Sri Lanka. 

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For media enquiries, contact:
ACCA Newsroom
E: newsroom@accaglobal.com
Twitter @ACCANews
accaglobal.com

CA Sri Lanka
E: registration@casrilanka.org
M: +94 011 235 2020

Notes to Editors
About ACCA: ACCA is the Association of Chartered Certified Accountants. We’re a thriving global community of 241,000 members and 542,000 future members based in 178 countries and regions that upholds the highest professional and ethical values.
ACCA Sri Lanka office was incorporated in 2002 and is currently located in Colombo 02.
We believe that accountancy is a cornerstone profession of society that supports both public and private sectors. That’s why we’re committed to the development of a strong global accountancy profession and the many benefits that this brings to society and individuals.
Read more on MRAs

About CA Sri Lanka: The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) takes great pride in being the change makers of Sri Lanka’s Accounting arena. For over six decades, we have been the vanguard in developing the Accounting profession across Sri Lanka, while also playing a vital role to ensure the Accounting profession continues to be an important catalyst in the success of Sri Lanka.
Members of CA Sri Lanka are globally recognised and are identified as a brand of unique and versatile professionals, with the ability to steer any business successfully. CA Sri Lanka has produced over 7,000 members, who are recognised for their professional integrity, exceptional technical and perceptive skills, as well as financial discipline and out of the box thinking, which helps them add value to their organisations.