CGMA or CMA?

Amidst a certain amount of controversy, the AICPA and the Chartered Institute of Management Accountants have launched a new designation for global management accountants, the CGMA [1] (Chartered Global Management Accountant). The designation is available to members of both organizations. The credential is to be issued based on experience rather than specific education and an examination. Jeffrey Thomson, Institute of Management Accountants president, recently told AccountingWEB [2], "We have some serious questions about the designation," and he questioned the length of the grandfathering period and the fact that AICPA members qualify without passing a test.