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10 May 2011
CIMA AND US institute the AICPA are to decide later this month whether a hook-up between the two professional bodies is imminent.
Earlier this year, the institutes announced the possible joint venture, which would create a new not-for-profit group called the Association of International Certified Professional Accountants.
The collaboration would also spawn a new credential for management accountants, and give a "substantially wider footprint" to the profession, according to CIMA chief executive Charles Tilley.
Later this month will see the two governing bodies decide whether the link up goes ahead. When pressed on whether he thought a yes vote was likely, Tilley said: "I would be extremely disappointed if not." The implication that this is already a done deal was strong.
The AICPA counts 350,000 members in the states, of which 140,000 are business members and "of interest" to CIMA.
Tilley said one of the institutes' biggest challenges was to "effectively demonstrate on a global basis the criticality of management accounting". Perhaps the hook-up will give him the wider audience he craves - watch this space.
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Visitor comments Add your comment
Cannibalization
I heard there are members who nag about CIMA’s joint venture deal with AICPA saying the new credential will cannibalization CIMA UK membership. Some said the joint venture deal will benefit more for AICPA but less for CIMA (although not detrimental).
However, you don’t need to consider if the plan will benefit the partner institute or not. I am sure council of AICPA will make a wise decision.
All CIMA needs to consider is if the venture will benefit CIMA on international development. If it is not, then the obvious decision is to turn it down.
Posted by: Ross, 23 May 2011 | 10:07
Don't be too cynical
There are CIMA members who nag about what is the benefit of having an additional set of CGMA designation for existing UK members and what benefit it will bring to UK members who isn’t engaged in ‘outside of host country business’ or intends to not work in just one other country.
Don’t be cynical (if not selfish). CIMA is a home not just for UK members. It is a home for members in Pakistan, Hong Kong, Malaysia or China etc as well. Like ACCA which has well established network worldwide, CIMA is too not meant to be a local institute. Instead CIMA is always and will endeavour to strengthen its global presence. If not, why carry the costs burden in maintaining 252 examination centres/branches overseas?
Raising the profile of CIMA and CGMA will definitely bring benefit to the institute and its members.
Posted by: Jack So, 25 May 2011 | 08:53