Professionals

ACCA qualifications recognised by UN, EU countries
 

BY HIRAN H. Senewiratne

THE Association of Chartered Certified Accountants (ACCA) is the largest global professional accountancy body, with 105,000 members and 240,000 students in over 170 countries, which is one of the best accountancy qualifications one could pursue in Sri Lanka, Sri Lankan-President U.H Palihakkara said.

ACCA's headquarters is in London and the organisation has an extensive network of over 70 staffed offices and other centres around the world.

In Sri Lanka it has more than 1500 students and 200 fellow members, which are employed not only in Sri Lanka but also in other countries as well, he said. This has been registered under the UK's Companies Act.

At present more than 50,000 members (ACCA qualified accountants) and over 60,000 students is recognised by the United Nations and all European Union countries in the world, Palihakkara said.

This professional qualification is respected globally with access to companies, governments, regulators and practitioners around the world, which gives a unique perspective on financial management and accountability in the public and private sectors for Members.

ACCA members work in practising firms of accountants, commerce, industry and the public sector.

They have members in senior Government positions, in listed multinational companies to small business advisors and entrepreneurs. After completing two stages out of their four stages, one could get into the Oxford Brooks University, which is one of the top Universities in UK.

ACCA Sri Lanka has been negotiating with certain UK publishers to publish ACCA text books in Sri Lanka to provide text books at a concessionary rate for Sri Lankan students. Syllabuses of the programme are regularly updated on par with CIMA and Chartered Accountancy courses, he said.

ACCA-Sri Lanka is also negotiating with the NDB bank to arrange student loan facilities for students to pursue the course.

It has 4 accredited tuition centres in the country and hopes to expand its programmes to Kandy in the near future, he said

We have orientation programmes and continuous professional development programmes for members, which are mandatory for members, he said.

ACCA-Sri Lanka is in the process of negotiating with PIM and the University of Colombo to recognise the qualification as an entry qualification for MBA programmes, while UK universities have recognised it as an entry qualification for the MBA.

It is also discussing with other accounting professional bodies including CIMA and the Institute of Chartered Accountants of Sri Lanka for exemption programmes, he said.

'To complement our education and training of financial professionals, ACCA conducts research into and comments publicly on a wide range of business, financial and regulatory issues.

All ACCA members are equipped in tax, audit, financial reporting, corporate governance, education and lifelong learning, small business, public sector finance, pensions, debt management and corporate social responsibility.

They will be organising a quiz competition with SLT sponsorship in the Rupavahini.

ACCA will organise the first ever national conference this month in Colombo.

ACCA's technical advisory service is in contact daily with members, and this, coupled with their member and student network structure - with representatives in every constituency in the UK -ensures that ACCA is fully aware of the key issues affecting the accountancy profession and the business community at local, regional, national and international levels.