In a joint effort to enhance and promote the accounting profession further in the country, the University of Colombo and the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), signed a Memorandum of Understanding (MoU) this week.
The MoU allows both the accounting academia and it’s practitioners to collaborate and carry out a programme of work which will be beneficial to both institutions, as well as the accounting professionals and aspiring accountants in the country.
The MoU which was signed by CA Sri Lanka’s President Mr. Lasantha Wickremasinghe and the University’s Vice Chancellor Prof. Lakshman Dissanayake, paves way for the academic staff attached to the university’s Department of Accounting to act as resource personnel to assist in various course material related development of the institute, as well as take part in programmes organised by CA Sri Lanka. The Department too have the option of inviting resource personnel from the institute for events organised by the University.
Both, the University of Colombo and CA Sri Lanka will also explore the possibility of organizing a joint Master’s Degree Programme in Accounting for the benefit of the relevant graduates of the Department of Accounting and members of the CA Sri Lanka.
The agreement will also allow both the Department and the institute to engage in joint research for the development of accounting profession.
Speaking at the event, CA Sri Lanka President, Mr. Wickremasinghe said that partnerships between professionals and academia is crucial for the betterment of the country.
“Therefore, the coming together of the University of Colombo and CA Sri Lanka is important to ensure greater collaboration between professionals and academia for a better future and further progression of the accounting profession,” he said.
Mr. Wickremasinghe noted that instead of working within the borders of one’s own organizations, both groups should work towards fostering an environment which will be feasible for collaboration and thereby contribute towards the forward journey of Sri Lanka.
“The MOU we signed with the University of Colombo aims to develop a closer relationship of goodwill and friendship between both the university and the institute, while also working towards promoting the accounting profession in Sri Lanka through the collaboration of accounting academia and practitioners,” he added.