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| Sunday, 17 March 2002 |
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CIMA seeks expansion in Sri Lanka by JAYAMPATHY JAYASINGHE The Chartered Institute of Management Accountants (CIMA) plans to expand its scope of activity in Sri Lanka by providing more facilities to its student members aspiring to be business leaders in the future. CIMA President Bruce Epsley, who was in Sri Lanka recently, said that there were exchanges between the CIMA and the European Union on major issues relating to international accounting standards. He said CIMA has proposed to set up 200 computer-based buildings around the world for foundation level students to gain assessments via the computer. Asked whether the accounting profession is facing a crisis following the Enron scandal, Mr. Epsley replied that although accountancy was their base, a major part of the CIMA qualification involves providing advice to the business world on financial management. Referring to taxation, he said there may be deviations in countries where taxation was practised, but the principles of taxation remain the same throughout the world. Taxation was an international tool, he added. Mr. Bruce Epsley began his carrier with the Imperial Paper Mills (1963-1970) where he rose to the post of Assistant Chief Accountant. He later joined the Stanley Group as the Chief accountant and in 1974, he set up his own consultancy business, specialising in management accounting and business taxation. His business was absorbed into the chartered accountancy practice of Lamey and Co. in October 1999. During the past 25 years, Mr. Epsley has been a sessional lecturer in management accountancy and taxation at Mid-Kent College, and the company secretary to various private limited companies. He was elected to Council in 1993 and is currently one of CIMA's members in practice. He was the Vice Chairman of the Professional Practice Committee 1993-1994 and the Chairman of the committee from 1994-1996. Since then he has been the Chairman of the Resource and General Purposes Committee. CIMA's President (Sri Lanka Division) Dian Gomes who was unanimously elected as its 13th President said his aim was to encourage young CIMA members to climb the corporate ladder and end up as Chief Executive Officers of companies.He said currently there were around 150 CIMA qualified persons holding CEO positions in companies both here and abroad. Mr. Gomes said that pass rates however were below the British mark and CIMA was planning to get down British tutors to lecture local students. The local pass rate was around 40 per cent as against 50 per cent in Britain. Mr. Gomes said that students in the United Kingdom had a better exposure to taxation law and other case studies unlike local students. CIMA has 7,000 students and over 60,000 members in all business sectors in the world. Mr. Gomes is currently a Group Director at Mass Holdings and is also the Managing Director of both Slimline and Leisur Line (Pvt) Ltd. |
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