The initiative to support the career development goals of chief financial officers (CFOs) and other aspiring professionals launched officially on June 23, 2013, during IMA's Annual Meeting of Members as the start to IMA's Annual Conference & Exposition in New Orleans. ACCA and IMA also signed a Mutual Recognition Agreement (MRA), approved by ICMA's Board of Regents and ACCA's Council.
The MRA, signed on the one-year anniversary of ACCA and IMA's strategic partnership, enables members of both organizations, subject to standard conditions of membership, a clear pathway to one another's credentials based on a rigorous content and curriculum review - IMA's CMA (Certified Management Accountant) or ACCA's professional membership. The MRA will become effective early next year. For more information on the MRA, please see a list of frequently asked questions
on the IMA website.
As part of the Financial Leadership and Performance initiative, ACCA and IMA will support professionals through a variety of resources:
- A new cosponsored website, www.roleofcfo.com , a resource for finance leaders, containing ACCA and IMA reports, research, and insights.
- CFO Pathways, a research report covering the future of CFOs' work, their role, and their changing career paths.
- Continuing professional development/continuing professional education resources that focus on financial leadership and performance, including articles, webinars, videos, and e-learning courses.
"Both our credentials are the result of rigorous qualification and assessments, with a clear commitment to producing ethical, reputable, and high-performing members," said Barry Cooper, ACCA's president. "Together, we understand the issues and drivers of success for the CFO and the finance team. Today's announcements, including flexible pathways to our respective exams and compelling CFO resources, are indicative of our commitment to sustainable organizational success."
John Macaulay, CMA, IMA's chair, added, "Collectively, ACCA and IMA represent 653,000 members and candidates, with a unique global network of 89 offices and centers around the world, including more than 200 local chapter communities. With today's announcements, we have the opportunity to deliver even more value to the global profession, supporting CFOs and those aspiring toward that goal. We will continue to support excellence in management accounting through tested certification."
Source: June 24, 2013, IMA Press Release