MoU with Association of Chartered Certified Accountants (ACCA)

Department of Accountancy, Faculty of Business Studies and Finance, Wayamba University of Sri Lanka signed a Memorandum of Understanding (MoU) for a term of three years with the Association of Chartered Certified Accountants (ACCA), United Kingdom (UK) recently with the purpose of better preparing local students for the changing job market, that calls on professionals with skills and expertise that combines both theoretical and practical knowledge.

Having had a long-standing relationship with ACCA, the Wayamba University of Sri Lanka recently signed this MOU to strengthen further the partnership between the two educational entities that will enable them to work together to grant exemptions for the graduates, which in turn will give them an edge in their profession by helping them gain specialist knowledge and accountancy skills and managerial skills that are on par with global standards.

In addition to offering a host of attractive opportunities for students of the Department of Accountancy of the Wayamba University of Sri Lanka who completes the degree in B.Sc. (Sp) Accounting and Business Finance, this MOU will also allow 4th-year undergraduates to enjoy exemptions from eight subjects out of the fourteen subjects in the ACCA qualification.

The MOU also urges the two organizations to collaborate in developing the accounting profession and accounting degree programs in Sri Lanka, as well as promoting the profession’s standards and ethics. These objectives will be met through holding collaborative workshops, seminars, research, discussion events, and conferences to increase knowledge and awareness of what financial professionals might anticipate in the future.

Exemptions Granted by ACCA

  • Level 1 – Applied Knowledge
    • BT: Business and Technology
    • FA: Financial Accounting
    • MA: Management Accounting
  • Level 2 – Applied Skills
    • LW: Corporate and Business Law
    • AA: Audit and Assurance
    • FR: Financial Reporting
    • PM: Performance Management
    • FM: Financial Management

Other Waive-off Benefits

  • First-year subscription waive off
  • 50% off from the initial registration fees