RegulationAccounting StandardsNon-members allowed onto CIMA council

Non-members allowed onto CIMA council

CIMA wins vote to change by-laws allowing non-members onto council. Four AICPA representatives to take up the places

A RESOLUTION to allow non-CIMA members onto its council has been passed.

The resolution went through at CIMA’s AGM on Saturday, which also required Privy Council approval, and will allow four non-CIMA members to join the council.

CIMA intends to introduce four representatives from US institute AICPA (The American Institute for Certified Public Accountants) onto the council, as part of its joint venture plans to share designatory letters (CGMA).

The AGM was described as “stormy” and “historic” by some attendees, in terms of the length of the meeting and the level of criticism aimed at the board. Concerns were voiced about the lack of participation and transparency afforded to members prior to the joint venture being agreed.

Former CIMA president and ex-Cadbury’s FD David Allen, who attended the AGM, said allowing an executive board to run the institute was “probably” more efficient, but CIMA had “lost some key values that were characteristic of a professional body”.

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