|
|
|
       
|
 AICPA Council Explores New Management Accounting Designation to Reinforce Value of CPA Worldwide The AICPA and the London-based Chartered Institute of Management Accountants (CIMA) are exploring the development of a new designation for management accounting, while supporting and promoting the U.S. CPA as the worldwide standard of professional excellence in accounting. The pathways for obtaining the new credential would vary. Recognizing the significant educational and professional background of U.S. CPAs, AICPA voting members with at least three years working in management accounting or a financial management role would qualify for an accelerated route to obtaining the new designation. Non-voting AICPA members in the United States would not be eligible to obtain the credential. Membership in both the AICPA and the state society delivers benefits for member CPAs, as designation-holders would receive a significant discount on their annual credential fee. Drawing on an exacting code of conduct and ethics and a rigorous pathway for entry, the proposed new designation would demonstrate a combined competency and expertise in management accounting, and global financial and business management. CPAs holding the new designation would be further distinguished as corporate finance professionals, combining management accounting with a broad spectrum of financial expertise in corporate and public accounting. The proposed new designation would be issued by a joint venture on behalf of the AICPA and CIMA, with membership remaining with the existing organizations. AICPA President and CEO Barry Melancon, CPA, said: “High-quality management accounting professionals who combine expertise with a deep commitment to ethics and integrity serve the public interest. This joint venture would help produce and recognize professionals around the world committed to excellence in management accounting, enterprise and performance strategy.” The proposed new designation and the supporting joint venture are consistent with the AICPA’s goals to promote the U.S. CPA broadly, advance the resources available for management accountants, create new global networking opportunities for members, and provide an enhanced platform for advocacy on behalf of the profession and the public interest. CIMA has approximately 180,000 members and students in 168 countries outside the United States. Collectively, the AICPA and CIMA represent the interests of 550,000 professional members. CIMA, which has 29 offices around the world, would promote the U.S. CPA as well. Under the terms of the proposed agreement, the venture provides for equal decision-making through a 50:50 board of directors, with CIMA and AICPA rotating the role of chairman. The new joint venture would be 60 percent owned by the AICPA. “We are delighted and fortunate to be able to work with CIMA as an established global partner that brings a wealth of experience and knowledge to this exciting new proposal,” AICPA Chairman of the Board of Directors Paul Stahlin, CPA, said. “If approved, this joint venture promises to create long-term strategic value for our members and the companies they work for.” In the Americas outside the U.S., non-CPAs could obtain the new designation as AICPA international associates after a rigorous assessment process. Outside of the Americas, candidates would use the education and examination process established by CIMA. Candidates who earn the new designation under CIMA’s jurisdiction would be CIMA members. AICPA Governing Council members attending the Regional Council meetings provided feedback on this landmark initiative. Council will vote on proceeding with the designation and a joint venture with CIMA at its late May meeting.
|
 |
  |
||||||||||||||
|
| PO Box 5068 Troy, MI 48007-5068 Phone: 248.267.3700 Fax: 248.267.3737 E-mail: ;macpa@michcpa.org | |
