The Institute of Certified Management Accountants of Sri Lanka (CMA Sri Lanka) celebrated a landmark event on Friday, 13th June 2025 with the Induction Ceremony of the President and Council Members for the term 2025–2027, held at the Grand Crystal Ballroom, Taj Samudra, Colombo.

This year’s induction ceremony also marked a significant milestone the Silver Jubilee Celebrations (25th Anniversary) of CMA Sri Lanka, which was established in 1999 and launched on 3^rd June 2000 with technical support from CMA Canada (now CPA Canada) and financial assistance from the Canadian International Development Agency (CIDA). The Founder of the institute was Prof. Lakshman R. Watawala a Past President of Institute Chartered Accountants of Sri Lanka, Founder President AAT Sri Lanka and Past President South Asian Federation of Accountants (SAFA).  The Society of Certified Management Accountants was incorporated by an Act of Parliament (Act No. 23 of 2009), as the National Professional Management Accounting Institution in Sri Lanka.

CMA Sri Lanka is a member of the International Federation of Accountants (IFAC) the global body for the accounting profession, South Asian Federation of Accountants (SAFA), and Confederation of Asian and Pacific Accountants (CAPA), representing the nation in global and regional platforms. Today, it serves over 2,500 members and 18,000 students, with headquarters located at 29/24, Visaka Private Road, Colombo 4.

The ceremony was graced by Mr. Hemaka Amarasuriya, Chairman of the CMA Advisory Council, who served as the Chief Guest, and Mrs. Nilima Casie Chetty, a Founder Council Member of CMA, as Guest of Honour. The event was further honoured by the Guests of Honour Hon. Ravi Karunanayake, Patron and Fellow Member of CMA, and Hon. Sunil Kumara Gamage, Minister of Sports and Youth Affairs, Fellow Member of CMA.

The event commenced with the traditional oil lamp lighting ceremony, followed by a welcome address by Mr. Kosala Dissanayake, Acting CEO of CMA Sri Lanka setting the tone for the evening.

The installation of the new Governing Council was inducted by Mr. Hemaka Amarasuriya, Chairman of the CMA Advisory Council.

• President: Prof. Lakshman Ravendra Watawala, FCMA
• Vice President: Mr. H. M. H. Bandara, FCMA
• Elected Council Members:
  • Mr. Puvendran Gajendra, FCMA
  • Mr. P. A. Nandasiri, FCMA
  • Mr. K. W. A. I. Wimalaratne, FCMA
• Nominated Council Members:
  • Mrs. Sureka Ketawala, representing the Governor of the Central Bank of Sri Lanka
  • Mr. Sanjaya Bandara, representing the President of CA Sri Lanka
  • Prof. Dileepa Samudrage, representing the University of Sri Jayewardenepura

The following Committee Chairpersons were also inducted:

• Mr. Nandika Buddhipala, FCMA – Banking, Finance and Insurance
• Mr. Mahendra Jayasekera, FCMA – CMA Standards Board
• Mr. Kosala Dissanayake, FCMA – Journal, Publicity and Promotions
• Prof. A. R. Ajward, FCMA – Research Symposium
• Dr. Nuwan Gunaratne, FCMA – Sustainability and Environmental Costing
• Ms. Darshini Watawala, FCMA – Women Leadership
• Mr. Kaushika Jayalath, FCMA – Digital Business, Data Analytics and AI (Overseas)

The Chief Guest in his address, Mr. Hemaka Amarasuriya Chairman, CMA Advisory Council reflected on the Institute’s journey, stating: "I am proud to have served CMA from its inception and serving as a member of the Advisory Council and witnessed its evolution into a respected professional body, both nationally and internationally. It is indeed a privilege and honour to induct the Council Members for the two-year period 2025–2027."

Special recognition was conferred to:

• Mr. Hemaka Amarasuriya – Chairman, Advisory Council CMA Sri Lanka
• Hon. Ravi Karunanayake, MP – Re-appointed as a Patron of CMA Sri Lanka and Distinguished Member dedicated to serving the public interest
• Hon. Sunil Kumara Gamage, MP – Recognized as a Distinguished Member dedicated to serving the public interest
• Mr. Lakshman Abeysekera, Chairman – National Enterprise Development Authority and Fellow member of CMA Distinguished Recognition dedicated to serving the public interest
• Mr. K. M. L. De Zoysa, Chairman – Bank of Ceylon and Fellow member of CMA Distinguished Recognition dedicated to serving the public interest
• Prof. Samanthi Senaratne  was Appointed as a Member of the CMA Advisory Council, who is currently a Senior Prof in Accounting of the University of Sri Jayewardenepura  and a Member of the Panel of Judges CMA Excellence in Integrated Reporting Awards from its inception 10 years ago.

The outgoing Council Members (2023–2025) were also honored for their contributions:

• Mr. Manil Jayesinghe
• Senior Prof. Kennedy Gunawardana
• Mr Ruchira Perera

Hon. Sunil Kumara Gamage, Minister of Sports and Youth Affairs Guest of Honour, addressed the audience, congratulating the new leadership and stressing the need to empower young professionals through institutions like CMA. He stated the importance of both financial and management accountants to fit into any management post which is helping him in his current post as the Minister of Sports. He also stressed the importance of the Management Accounting profession especially in the costing area and to support the institute in its development role.

In his address, Hon. Ravi Karunanayake, Patron of CMA Sri Lanka and Member of Parliament, emphasized the growing importance of professional accountants in economic transformation and public trust. He also stressed the importance of Management Accountants for supporting the Government and Economy.

Prof. Lakshman R. Watawala, in his inaugural address as President, reaffirmed the Institute’s founding vision and laid out strategic plans to enhance implementing Management Accounting concepts and principles, job ready professionals, employability, promote sustainability, encourage digital innovation, and uphold high professional standards. He also commended President Anura Kumara Dissanayake for his decision to make the Public Service efficient, productive and result oriented to serve the public interest. Prof Watawala mentioned of the non – implementation of cabinet Decisions by Ministries relating to CMA which have hindered the development and recognition by the government sector, and even recently in the recruitment to the Government Accountancy Service not including the CMA qualification and including non - existent foreign qualifications which shows the attitude towards professional bodies incorporated by an Act of parliament set up to serve the broader public or the society of this country.

Delivering the Vote of Thanks, Council Member Mr. Puvendran Gajendra expressed gratitude to all dignitaries, with a special tribute to Prof. Lakshman R. Watawala, acknowledging him as the guiding force behind CMA’s growth for over two decades. He concluded stating "Today, CMA stands as a beacon of accessible, affordable, and practical professional education – equipping management accountants who are job-ready and nationally essential."

The evening concluded with a reception and networking session, celebrating a new chapter of leadership and CMA’s unwavering commitment to excellence in professional education in Sri Lanka.