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5
Connecticut CPA
g
January/February 2016
The American Institute of CPAs is proposing to join forces
with the Chartered Institute of Management Accountants
(CIMA) to create a new accounting association while
continuing to operate their existing membership bodies.
The association would integrate operations, strategy, and
management of the two organizations to further advance
advocacy and achieve economies of scale, thereby driving
enhanced support for and promotion of both public and
management accounting.
In 2011, the AICPA entered into a joint venture with CIMA,
the world's largest management accounting professional
body that prepares people for careers in business and
establishes best practices. The joint venture created a
new complementary designation, the Certified Global
Management Accountant (CGMA), for the nearly 50
percent of the AICPA's members who work in businesses
and industry.
Under the current proposal, members of the American
Institute of CPAs would remain members of the AICPA.
The same is true for CIMA. Members of both organizations
would automatically be part of the new association, which
wouldbeknownastheAssociationofInternationalCertified
Professional Accountants.
While the AICPA and CIMA would maintain their respective
membership bodies and governing councils, the deeper
partnership would enable the organizations to advocate for
the public interest and promote the designations through the
power of 600,000 professionals worldwide. The integration
is also intended to accelerate and expand the research,
resources, and services the organizations provide.
The AICPA would continue to focus efforts on keeping the
CPAstrongintheU.S.andextendingitsinfluence.
Creation of the proposed association would require an
affirmative member ballot for both AICPA and CIMA.
Throughout the fall and into early 2016, the AICPA will
be talking with members about the proposal and what it
would mean for all stakeholders. If that dialogue is positive,
a ballot initiative could occur in late spring 2016.
AICPA, CIMA Propose Deeper Partnership
What is the Chartered Global Management
Accountant (CGMA) Designation?
In 2011, the American Institute of CPAs and CIMA formed
a joint venture to further professionalize management
accounting in the U.S. and around the world. They
launched the Chartered Global Management Accountant
(CGMA) designation in 2012 and set out to provide
members with a new level of thought leadership, tools,
resources, and recognition.
·Morethan50,000UnitedStatesCPAsand100,000CIMA
members and students have obtained the designation,
making it the most widely held management accounting
designation in the world.
·Together,theAICPAandCIMAhavedeepenedassets
for members who work in business and industry, releasing
nearly 120 original reports and tools and a website, www.
cgma.org, to bring together resources for management
accountants.
· The organizations have established and deepened
relationships with more than 200 employers like Shell,
Coca-Cola, AT&T, American Express, and Unilever and
demonstrated the value that CGMA designation holders
bring to organizations.
·TheCGMACompetencyFramework,basedonextensive
researchwithemployers,wascreatedtodefinetheskills
management accountants need today and into the future,
and the AICPA/CIMA Competency and Learning website,
to give members a single destination for all of their skills
and development needs.
· Global Management Accounting Principles were
launched to help large and small businesses put effective
management accounting practices in place.
· The rigorous CGMA exam launched in January 2015,
designed to test a candidate's competency in business
skills such as strategic thinking and analytics.
·TheCGMA Magazine, consistently rated a top resource
by CGMA designation holders, delivers management
accounting news, in-depth analysis of key business
issues, and best practices for management accountants.
To learn more and share comments,
visit www.aicpa.org/horizons.