IMA Releases Enhanced Management Accounting Competency Framework for Public Comment

Marc Gerrone
(973) 930-2785

Taylor Fenske
Stern Strategy Group
(908) 325-3866

Montvale, N.J., June 18, 2018IMA® (Institute of Management Accountants) today released the exposure draft of its enhanced Management Accounting Competency Framework. The existing Framework is being enhanced to reflect the skills that management accountants will need to remain relevant as new technologies such as blockchain, machine learning and robotics process automation impact the profession.

The announcement was made at IMA’s Annual Conference and Expo, where Jeff Thomson, CMA, CSCA, CAE, IMA president and CEO, kicked off IMA’s year-long 100th anniversary celebration.

“The framework update is part of our 100th anniversary focus to look ahead and prepare for the future,” said Thomson. “We now know that today’s management accounting professional will be tasked with making decisions outside the realm of what once were traditional competencies. We believe this upgraded Competency Framework will provide a map for management accountants.”

The Framework identifies six domains of core skills that finance and accounting professionals need, many of which are included in the CMA® (Certified Management Accountant) credential curriculum:
  • Strategic Management
  • Reporting and Control
  • Technology and Analytics
  • Leadership
  • Business Acumen and Operations
  • Professional Values and Ethics
New additions or enhancements include competencies for better utilizing automation in business like strategic management, data analytics, data governance and data visualization. “Professional ethics and values” was added as a skill domain, highlighting the need for and importance of ethical behavior in the accounting profession.

“Our profession is undergoing significant change,” said Thomson. “As some tasks traditionally done by accountants are automated, there’s a significant opportunity for management accountants to take on strategic roles within their organizations. This Framework can help organizations steer talent management and hiring decisions, while professionals can prepare to reach their full potential.”

The Framework is currently open for commentary and practitioners, academics and other stakeholders are invited to share feedback now through September 17, 2018 by visiting

About IMA® (Institute of Management Accountants)
IMA®, named 2017 Professional Body of the Year by The Accountant/International Accounting Bulletin, 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 100,000 members in 140 countries and 300 professional and student chapters Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe, and Middle East/India. For more information about IMA, please visit