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November 4, 2013

CPA Australia and CA Sri Lanka sign MRA

CPA Australia and the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) have signed a Mutual Recognition Agreement (MRA) by which their qualified members can gain reciprocal membership.

The MRA builds on the Memorandum of Understanding (MoU) that the two accounting bodies signed in the past and develops their partnership to improve international recognition and professional mobility, CPA Australia said in a statement.

Under the MRA, CA Sri Lanka qualified members are eligible for associate membership with CPA Australia members if they:

  • hold a degree comparable to at least an Australian bachelor degree level or have at least five years’ work experience in professional accounting
  • have passed the CA Sri Lanka examinations and CA Sri Lanka practical experience requirement
  • their CA Sri Lanka have not gained through another MRA
  • are a current member in good standing with CA Sri Lanka

According to CA Sri Lanka chief executive Aruna Alwis and CPA Australia executive general manager business development Rob Thomason, there will be more MRAs to come due to the globalisation of the profession and employers demands for increased international mobility.

"The world is becoming increasingly interconnected. Our strategic alliance with CA Sri Lanka provides an important avenue for members of both organisations to grow their career in an international capacity," Thomason said.

The extended partnership, Thomason added, underscores the global nature of business and the accounting profession.CPA Australia had more than 100,000 members and 42,000 student members in the year to December 2012; while CA Sri Lanka has more than 4,000 members and 36,000 students, according to the Sri Lankan institute.

Related links

CPA Australia

The Institute of Chartered Accountants of Sri Lanka


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