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IMA Critical of CGMA

Wednesday, February 1, 2012

On January 31, the American Institute of Certified Public Accountants and the Chartered Institute of Management Accountants launched their new joint designation, “Chartered Global Management Accountant” (CGMA). On the same day, the Institute of Management Accountants, which has been awarding its Certified Management Accountant (CMA) designation for 40 years, pointed out that for the new program, “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 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.’... Read More

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