A stronger CIMA 

We are pleased to share the good news that CIMA members have overwhelmingly endorsed our long-term strategy and proposal to evolve our joint venture with the American Institute of CPAs (AICPA) and create a new accounting association.

 

“We live in a time of rapid change and increasing competition. Responding to this, I am delighted that CIMA and the AICPA members have endorsed the proposal to create a new association so that we can stay ahead of market changes and developments.

 

We will build on the history and strengths of both CIMA and the AICPA, which will enable us to accelerate our long-term strategy, and to expand the opportunities for CGMAs around the world.”

 

Andrew Miskin FCMA, CGMA

CIMA President 


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In November 2015, we announced the proposal from CIMA’s Council to evolve our joint venture with the AICPA and create a new association that would represent the breadth of the accounting profession.

The ballot recently took place and we are pleased to share the results for both CIMA and the AICPA. An overwhelming 89.7 per cent of CIMA members voting have endorsed our strategy and proposal. Likewise, 86.5 per cent of the AICPA members who voted supported the proposal to create a new association.

What does this mean for CIMA?
  • Through the creation of the Association, we aim to accelerate CIMA’s long-term strategy to ensure we remain most relevant in the management accountancy space.
  • The CIMA and AICPA membership bodies will remain and CIMA will retain its strong focus on management accounting.
  • By joining forces with the AICPA, we aim to become the world’s most influential professional body of accountants while continuing to operate the two membership bodies our communities have collectively trusted for many decades.
  • We will also aim to advance the entire breadth of the accounting profession – both management and public accounting – and continue to raise the profile of the CGMA designation globally to further enhance the employability and recognition of our members and students.
What does this mean for our members?
  • They will keep everything they value from CIMA while benefiting from the combined strength of the two organisations.
  • Their membership of CIMA, their designations, CIMA’s Council and Royal Charter will all remain, but they will automatically become members of the new joint venture Association.
  • The new Association will build on the history and reputation of both CIMA and the AICPA and by integrating strategy, management and operations, we aim to become stronger, provide greater and more responsive services to better serve both our current and future members in the competitive challenges that lie ahead.
Next steps

This marks the start of a journey as we commence working to integrate our operations. Implementing the proposal will begin straight away, and while full integration will of course take time, the new Association will launch in 2017.

View our press release here.

"As a business we are continually seeking to adapt to an ever changing consumer climate, management accountants are critical to supporting this change. CIMA and the AICPA have continued to evolve alongside their members to be in the optimum position to support the changes members face."

Nick Cooling ACMA, CGMA, Senior Commercial Finance Manager, Warburton
Staying ahead

In 2011, we formed our joint venture with AICPA to establish the Chartered Global Management Accountant® (CGMA®) designation. This marked the start of our new strategy for international growth.

Leading on new thinking

We are at the forefront of our profession's response to new business needs and produce research and insights to challenge thinking and keep CGMAs at the forefront of the profession.

This has been a successful joint venture and since then, CIMA's global reach has increased significantly and we now have 50,000 CGMAs in the US.

Together we have developed the CGMA Competency Framework and the AICPA | CIMA Competency and Learning website.

In addition, members from over 20 countries contributed to our consultation on our CGMA Global Management Accounting Principles and our ability to influence international standards of best practice, our professional partnerships and the popularity of our qualifications in new markets have all increased.

This is shown through Robert Half recently listing CGMA as one of the most in-demand credentials in the US.

Taking CIMA to the next stage

Members have now endorsed the proposal to accelerate our long-term strategy through the deepening of our joint venture with the AICPA and creation of a new accounting association. For more information on the proposal, click here.



"The Association will offer a powerful drive to progress the evolution of the management accounting profession. A win-win for all stakeholders."


Ammar Alhassan FCMA, CGMA, CFO, BMMI
  • In the new CGMA report, 'Joining the dots: decision making for a new era', 80% of respondents admit they've discovered that a strategic decision was made based on flawed information at least once in the last three years. Read more

  • The recent CGMA report CIMA and the AICPA developed with Oracle, 'The digital finance imperative', highlights that next-generation finance requires CGMAs to keep pace with the digitisation of business and technological change to remain relevant. We reported that in 2015, 84% of the S&P 500 market value was made up of intangible assets, whereas in 1975, 83% were tangible assets. Read more
Meeting new world needs

The way the world does business is changing, with profound challenges for organisations across the world. Systems of production, management, and governance are all being transformed, putting increasing pressure on businesses to create added value.

Helping business adapt

The pace of change is accelerating. In today’s complex and fast-paced environment, businesses need a new agility to stay competitive.

Management accountants are central to managing and exploiting change on this scale, and CIMA is committed to making sure our members lead the process.

Our goal

The creation of the new Association will accelerate CIMA’s long-term strategy and ensure our qualifications and designations are recognised as the most relevant in global management accountancy by employers, regulators and our profession.

"With an ever increasing pace of change and range of disruption in the economy, every organisation needs to look a couple of steps ahead."

Krzysztof Skajewski, Head of BI & Decision Support, RBS
Endorsements

Find out more about what members, students and business leaders had to say about CIMA’s long-term strategy and on staying relevant in a changing world. Watch the videos below and visit our endorsements page.

   

 


 


 


 


 


 

 

FAQs
Contact
CIMA and AICPA successes

We welcome your comments on CIMA’s strategy and services, please email us at
vision@cimaglobal.com