CMA Admitted to SAFA membership

The Institute of Certified Management of Accountants (CMA) of Sri Lanka which was incorporated by Parliament Act No. 23 of 2009 was admitted to the Membership of the South Asian Federation of Accountants (SAFA) at the Assembly Meeting held on January 23, 2010 in Kathmandu Nepal. SAFA was set up in 1984 and Sri Lanka was represented by Prof. Lakshman R. Watawala who was the then President of the Institute of Chartered Accountants of Sri Lanka at the signing of the historic document to set up SAFA.

He was also elected as the first Vice President of SAFA and took over the Presidency in 1986.

The member countries of SAFA were India, Pakistan, Sri Lanka and Bangladesh. At that time all the countries had the Chartered and Management Accounting bodies other than Sri Lanka which had only the Chartered body.

CMA was proposed by the Institute of Chartered Accountants of Sri Lanka and supported by all the Management Accounting bodies of India, Bangladesh and Pakistan.

The Chartered Accounting bodies of Pakistan, Sri Lanka and Bangladesh also supported the proposal and CMA was admitted to membership in November 2009 and confirmed at the meeting in January 2010.