AAT qualification, a stepping stone to reach high

BY HIRAN H. Senewiratne

THE Association of Accounting Technicians of Sri Lanka (AAT) is a middle level qualification, which is a stepping stone for higher qualification and also to pursue further career development, its President Asoka Jayasinghe said.

"This is the best path available for GCE (O/L) and (A/L) students who are unable to enter local universities. This is the best career path for any local student in the country," he said.

AAT-Sri Lanka has the largest active student registration body in the country which amounts to 31,000 student population and could be completed within one and a half years with cost of Rs. 10,000.

AAT examinations are held at three levels - foundation, intermediate and final, in all the three media, twice a year in June and December.

The duration of each level is six months; the three levels can be completed in one half-years by GCE. (A/L) and (O/L) students and in one year by G.C.E (A/L) Commerce students.

The finalists of AAT have been recognised by a number of professional institutes for registration of students. It gives exemptions for Foundation Examinations of the Institute of Chartered Accountants of Sri Lanka, CIMA and Certificate Stage of CIM.

Even local universities like Colombo University recognises the AAT qualification for their Executive Diploma in Business in Business Administration and their Bachelor of Information Technology.

The University of Sri Jayawardhanapura recognises the qualification as an eligibility to register for their external degrees including B.Com, B.Sc. (Business Administration) and B.Sc. (Public Administration) with exemptions from Financial Accounting of Part one.

The Open University of Sri Lanka recognises the AAT Foundation (Stage one) for the registration of Diploma in Management while passed finalist for the registration of the Bachelor of Law (L.L.B) Degree.

The students who have completed the AAT-Sri Lanka are eligible to enter level six (final year top-up) BA (Hons) Accounting and Finance Programme taught at the University of Northumbria in the UK.

The Australian universities like Deakin University and Wollongong University recognises this qualification for their Bachelor of Commerce degree programmes.

After qualifying the AAT examination one has to follow a two-year practical training course in accountancy to obtain the MAAT qualification. The employability of the qualification is very much satisfactory and it has a big demand in Middle East and Maldives, Jayasinghe said.

According to Jayasinghe more than 60 tuition centres are available in the country which are constantly monitored to ensure that standards are maintained.

The examinations are held in seven examination centres in the country including Jaffna and Batticaloa. The AAT exams are comparatively cheap to others and they target the rural student population. The mediums of instruction for this programme are in all three languages.

AAT Sri Lanka also conducts seminars, workshops and conferences for the benefit of their students and it is the only professional body that reviews the Budget in Sinhala, he said.

The master plan for Accountancy Education in Sri Lanka prepared by the ADB Inception Mission in 1986 emphasised the need for the Technician Level Accounting Personnel. The Mission Report forecast the Island's requirement of Accounting Technicians at 12,000 by 2000.

AAT (SL) since 1987 has been able to produce 4685 Passed Finalists up to September 2003. Still there is a great potential for Accounting Technicians which has increased immensely with the expanding economy, and now with the new global village concept.

Accounting technicians are clerical personnel of a responsible position, with a knowledge and understanding of the principles and techniques of accountancy, and conform as middle level support accounting staff.

In 1983 April AAT Ireland (called Institute of Accounting Technicians Ireland) was formed. Afterwards AATs have been established in Pakistan (now called Institute of Public Service Accountants-Pakistan), in Malaysia (now called Association of Accounting Administrators-Malaysia), in Singapore, and in New Zealand (called College of Accounting Technicians-New Zealand).

AAT (SL) was established in December 1987 on the model of the AAT (UK). AAT (SL) is a non-profit organisation. AAT (UK) had been formed in 1980 by the merger of two earlier existing bodies in U.K., namely Association for Accounting Technicians of Finance and Accounting (ATFA) and Institute of Accounting Staff (IAS).