CIMA's HQ move fuels deficit
CIMA today revealed it is 'likely' to be moving to new London headquarters in the Autumn - while revealing a £322,000 deficit in its annual review for 2000.
Increasing employee and student numbers prompted the decision to move, while the financial shortfall has been fed by investment in a computer system called the IBIS project – an Integrated Business Information System.
In 1999, the institute reported a £509,000 surplus, while the number of students sitting CIMA exams in 2000 rose 20% on the previous year to 170,612.
The institute said the office move to Central London’s Pimlico district was necessary as it had outgrown its present accomodation at Portland Place. Plans to move are said to be ‘advanced’.