The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Sri Lanka Institute of Information Technology (SLIIT) recently forged a new path in accounting and IT education excellence by signing a Memorandum of Understanding (MoU) for the first time in history aimed at advancing and collaborating in professional education.
Mr. Heshana Kuruppu, President of CA Sri Lanka, and Prof. Suren Peter, Dean of SLIIT Business School, signed the MoU in the presence of Prof. Nisha Jayasuriya, Head of the Department of Business Management at SLIIT Business School, as well as Mr. Asoka Piyadigama, CEO of CA Sri Lanka, and Ms. Lakmali Priyangika, COO of CA Sri Lanka.
The MoU will primarily focus on enhancing the flexibility of the qualification process for students seeking both CA Sri Lanka and SLIIT qualifications, and it will also explore a future reciprocal arrangement between the two institutions. This effort aims to provide a seamless pathway for students pursuing careers in accounting and finance, to enhance their professional prospects.
Mr. Heshana Kuruppu, President of CA Sri Lanka, said, “For the first time in our institute’s history, we are delighted to sign an agreement with SLIIT and formally collaborate in our efforts to continuously expand what we can offer our youth. By combining our strengths, we aim to provide a comprehensive educational experience that prepares students for successful professional careers, across accounting and finance.”
Under the MoU, CA Sri Lanka and SLIIT will collaborate in various areas, including the participation of lecturers in seminars, workshops, and conferences organised by each institution on accounting topics. Both institutions will also engage in joint research in accounting disciplines and share resources such as libraries and computer centres.
Prof. Suren Peter, Dean of SLIIT Business School, commented, “This partnership will provide our students with enhanced opportunities for professional and academic growth, preparing them to upskill in critical areas necessary for their future career success.”
Other prospective areas of collaboration under the MoU include the joint development of soft skills for students, curriculum development and revision, and facilitating practical training opportunities for students in business organisations, audit firms, and state corporation sectors.
CA Sri Lanka may provide exemptions to SLIIT undergraduates to take CA Sri Lanka examinations and qualify as Chartered Accountants. Additionally, SLIIT is exploring the possibility of allowing CA Sri Lanka members to obtain bachelor’s and master’s degrees based on benchmarking outcomes by UK ENIC (UK national agency for international qualifications and skills).
Founded in 1959, CA Sri Lanka is the national professional accounting body dedicated to promoting and developing the field of accounting both locally and internationally, while SLIIT is a premier higher education institution in Sri Lanka specialising in information technology and business.