The Association of Chartered Certified Accountants, (ACCA) UK, the largest and fastest growing global professional accountancy body, with a reputation grounded in over 100 years of providing accounting and financial qualifications, signed an MOU with the Department of Accounting, University of Sri Jayawardenapura on December 8 2010, to mutually collaborate for the advancement of the accountancy profession in Sri Lanka.

Under the MOU, the two parties have agreed to promote the ACCA designation at the University of Sri Jayawardenapura and the B.Sc. Accounting (Special) Degree Programme of the Department of Accounting at the ACCA Division in Sri Lanka.

The picture shows the Country Manager for ACCA Sri Lanka Mrs .Aruni Rajakarier and the Vice Chancellor of the University of Sri Jayawardenapura Dr N .L. A Karunaratne, at the signing of the MOU.

Further, the two institutions will collaborate in the areas of research in Accounting, providing training to students, and conduct of workshops/training programmes which are of mutual benefit to both the ACCA and the Department of Accounting. The outcomes of these activities will ultimately contribute towards the betterment of the Accounting profession in the country.

Recently ACCA offered exemptions in 9 out of the 14 subjects in their scheme of evaluation to students who have completed the B.Sc. Accounting (Special) Degree, which is the first academic degree in Accounting offered in the university system in Sri Lanka. Thus, the graduates of B.Sc. Accounting (Special) Degree Programme are now required to complete only five subjects listed in the final stage to obtain the full ACCA qualification.

With these exemptions, students of the Department of Accounting are now in the enviable position of obtaining a qualification that is well received round the world in every conceivable employment market, both in the corporate and public sectors.

Dr N L A Karunaratne, Vice Chancellor of the University of Sri Jayawardenapura claimed this as remarkable achievement in the history of the Department of Accounting and hoped that the students of the Department will reap the benefits of a globally recognized qualification in Accounting.
He also expressed confidence that the association between the University of Sri Jayawardenapura and the ACCA will go from strength to strength.

Commenting on this venture Mrs. Aruni Rajakarier, ACCA Sri Lanka Country Manager stated "We are extremely pleased to formalize our relationship with the University of Sri Jayawardenapura, not only to offer better options and opportunities for students but also share our views and work towards the development of the accountancy profession in Sri Lanka.