Back to All News

IMA Holds High Standards for Management Accounting Certification

January 31, 2012

Marc Gerrone
IMA
(201) 474-1502
mgerrone@imanet.org

Tara Baumgarten
Stern + Associates
(908) 276-4344, x-219
tara@sternassociates.com

Montvale, N.J., January 31, 2012 -- IMA® recognizes efforts by AICPA and CIMA to create a new management accounting designation, as this reinforces the critical role management accountants play in today’s competitive global marketplace. However, the absence of proper testing and assessment during the three-year grandfathering period – in which U.S. CPAs who meet basic experience criteria and pay a fee will receive the CGMA (Chartered Global Management Accountant) designation – is troubling. Equally concerning is a six-month, free auto-enrollment period in which CPAs who meet the education criteria automatically become CGMAs and are then required to “opt out.”

In contrast, IMA believes the most credible means for certifying competency in management accounting is by studying for and passing a rigorous testing program, combined with an educational and experience requirement. To date, the Institute of Certified Management Accountants (ICMA®), the certification affiliate of IMA, has issued more than 36,000 CMA® certificates to professionals who have earned their credential by passing a rigorous multipart exam.

Backed by 40 years of management accounting innovation and insight from IMA, the CMA credential is today’s most market-relevant assessment of professional accounting and finance career qualifications.

As IMA continues to support the growing field of management accounting, the organization also hopes that all accounting associations keep sight of the ultimate mission to responsibly serve individuals, the profession, and society by assuring the skills of management accountants are verified and fully aligned with the needs and standards of today’s businesses.

In fulfilling its mission of advancing the profession, IMA intends to be a fierce competitor in ensuring that organizational capability is enhanced with properly certified management accounting professionals.

About IMA® (Institute of Management Accountants)

IMA®, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking, and advocacy of the highest ethical business practices. IMA has a global network of more than 60,000 members in 120 countries and 200 local chapter communities. IMA provides localized services through its offices in Montvale, N.J., USA; Zurich, Switzerland; Dubai, UAE; and Beijing, China. For more information about IMA, please visit www.imanet.org

About the CMA®

IMA®’s globally recognized CMA® (Certified Management Accountant) program is a relevant assessment of advanced accounting and financial management knowledge in four critical areas: financial planning, analysis, control, and decision support. For more information about the CMA certification program, please visit www.imanet.org/certification. 

Source: www.imanet.org