A son of Africa and the father of the rainbow nation has fallen. South Africa and the world mourns the passing of Nelson Rolihlahla Mandela (1918-2013). Children are bringing flowers and singing songs of praise at his home in Johannesburg.
At CIMA, as in across the world, we remember and mourn his passing but also celebrate his life and his effect on all our lives.
CIMA's 2013-14 President, Malcolm Furber FCMA, CGMA, from South Africa, said: 'I was deeply saddened to learn of the death of Nelson Mandela. The world has lost a man who, against the very worst of apartheid, embodied the very best in humankind and I know that all of CIMA will mourn his loss.
'His values of tolerance, perseverance and courage of convictions will always serve as an example to our members and students around the globe.'
PC exams – March 2014 exam diet
Information for the March 2014 strategic and T4 on PC 'extra' exam sessions is now available.
CIMA wins ‘Best Islamic Finance Education Provider 2013’ award at the Global Islamic Finance Awards 2013
CIMA was awarded the highly coveted Global Islamic Finance Award in the category ‘Best Islamic Finance Education Provider 2013’ at an awards ceremony which took place in Dubai, UAE on Tuesday 26 November 2013.
Now in its third year, the prestigious Global Islamic Finance Awards recognises excellence in Islamic banking and finance globally.
CIMA was acknowledged for its contribution to the growth of the Islamic banking and finance industry, having introduced the world’s first professional Islamic finance course in 2008. The award highlights CIMA’s pioneering role in preparing students and professionals across the world for a career in Islamic Finance.
Commenting on the achievement, Samantha Louis, CIMA Africa Regional Director said: 'it is a wonderful achievement for CIMA to receive this distinguished award and it serves to demonstrate our position as global leaders in providing Islamic finance education. With this global award, CIMA’s commitment to providing skilled Islamic finance professionals to sustain the industry’s growth has been recognised.'
Islamic finance is acquiring prominence throughout the financial institutions of the world, rapidly growing from a niche industry to a mainstay of finance. CIMA’s Diploma in Islamic Finance offers students globally recognised certificates in Islamic commercial law, Islamic banking and takaful, Islamic capital markets and instruments, and accounting for Islamic financial institutions.
Find out more about CIMA’s Islamic finance qualifications.
CIMA launches first centre of excellence for accounting research in Africa
The launch of the first African CIMA Centre of Excellence (COE), will be devoted to funding accounting research on the continent. It was launched on June 26, at the welcome dinner of the South African Accounting Association’s international biennial conference, which is hosted in collaboration with the International Association of Accounting Education and Research.
The output of this innovative research centre will include accounting research papers and local and regional case study material that will position CIMA as the experts in the field of management accounting, both regionally and globally.
New process for registration of tax practitioners
Tax practitioners are an essential part of tax administration in South Africa. SARS recognises this important role and has embarked on a process to elevate and professionalise the sector. In addition, SARS wants to acknowledge the role of professional bodies and statutory regulators that operate within the tax environment.
Section 240A of the Tax Administration Act (2011) changes the current SARS registration process for tax practitioners. This new process will be implemented in July 2013 and calls for an increased role for professional bodies and statutory regulators in the sector. SARS is expected to “recognise controlling bodies” if they maintain relevant and effective.
See more information.
CIMA recognised as the professional body for management accountants in South Africa
CIMA South Africa was recognised as the professional body for management accountants in South Africa at the launch of the Policy and Criteria for the Recognition of Professional Bodies and Registration of Professional Designation on the National Qualifications Framework (NQF) Tuesday 29 January 2013. The policy was developed by the South African Qualifications Authority (SAQA) as part of its mandate to further develop and implement the NQF and seeks to identify and recognised professional bodies and their designations.
In terms of Section 13 (1) (i) of the NQF, Act 67 of 2008, SAQA is required to:
1. Develop and implement policy and criteria for recognising a professional body and registering a professional designation for the purposes of this Act, after consultations with statutory and non-statutory bodies of expert practitioners in occupational fields.
2. Recognise a professional body and register its professional registration designation if the criteria contemplated have been met.
Says Zahra Cassim, Head of South Africa: 'The recognition was awarded in terms of the NQF Act of 2008 and we were one of only 40 professional bodies acknowledged in the first group. This means that we have been identified as the professional body which contributes to development and implementation of the education and training system, and career paths of chartered management accountants in South Africa.
'Our professional qualification and our designations have also been recognised by SAQA as registration designations.'
Higher Education and Training Minister Dr Blade Nzimande spoke at the launch urging professional bodies to help nurture young talent and assist the youth to gain skills in their particular professional areas.
Congratulating the professional bodies, Nzimande said he hoped that their recognition would strengthen social responsiveness and accountability within professions and promote the constant improvement of the professional work of their members. 'The registration of professional bodies should help eliminate any confusion with regard to recognised professional bodies and bogus professional bodies or expert groups.'
SAQA CEO Joe Samuels said the NQF sought to accelerate the redress of the past unfair discrimination in education training and employment opportunities.
'Redress is a key imperative in the South African legislation, policy and regulatory environment and the NQF is no exception. It is critical that perceptions of exclusionary practices be addressed up front and that professions do not apply unjust policies and practices with regards to who gains access to a profession.
'It is also important that there is a common understanding and approach to these and other issues that facilitate the transformation of education and training within this sector.'
Upgrades at CIMA South African office
Please note that the CIMA South African office has been undergoing renovations which has resulted in temporary disruptions. This has included extending the office area for our growing staff, creating a new meeting room, installing a new PABX system with additional lines and as the building is under new management, the exterior of the building is also undergoing renovations.
Intermittently our lines have been down during this process and some students and members may have struggled to get through on the phone lines. The interior and technology upgrades will be complete by the end of September 2012. The exterior renovation will be completed four months later.
Please accept our apologies for any difficulties you have encountered in liaising with the office during this time.
New CBA centres live from 1 October
Two years ago CIMA globally decided to migrate its CBA testing centres to the Pearson VUE platform and the migration is nearly complete.
Pearson professional centres utilise a patent-winning design, which was created specifically for high-stakes testing and offers a carefully controlled, consistent testing environment. These are key advantages for CIMA CBA students and demonstrate CIMA’s commitment to continuous improvement and to taking advantage of new and improved platforms and technologies.
Please search for CBA exam centres in South Africa. Find Pearson VUE Contact details at www.pearsonvue.com.
The CIMA customer care team will continue to offer our students support and advice and provide the list of CBA centres:
T. 0861 CIMA SA / 011 788 8723 or E. firstname.lastname@example.org.
PAFA general assembly resolves to adopt international standards
The Pan African Federation of Accountants (PAFA)/ Fédération Panafricaine des Experts-Comptables (PAFA) was launched in Dakar, Senegal in May 2011 to accelerate the development of the accountancy profession in Africa and strengthen the voice of the accountancy profession within Africa worldwide. PAFA is composed of 39 professional accountancy organisations from 34 countries.
PAFA held its first General Assembly in Tunis, Tunisia on 4 May 2012. The General Assembly resolved as follows:
"Recognising the importance of credible financial reports that accord to international standards, recognising the need for accountants in Africa to possess both technical and practical skills to meet the demands and requirements of the accountancy professional services at levels that accord with international standards, the PAFA General Assembly hereby adopts:
- international financial reporting standards (IFRSs) developed by the International Accounting Standards Board (IASB) and its successor organisations;
- international financial reporting standards for small and medium enterprises (IFRS for SMEs) developed by the International Accounting Standard Board and its successor organisations;
- international standards on auditing (ISAs) developed by the International Auditing and Assurance Boards (IAASB) and its successor organisations;
- international public sector accounting (IPSASs) developed by the International Public Sector Accounting Standards Board (IPSASB) and it successor organisations;
- international education standards (IESs) developed by the international Accounting Education Standards Boards (IAESB) and its successor organisations;
- code of ethics for professional accountants developed by the International Ethics Standards Boards for Accountants (IEBA) and its successor organisations;
PAFA recognises that not all its members have the mandate to adopt standards in their countries. In such cases the members must with the appropriate authority to facilitating the adoption of international standards.
Mr. Vickson Ncube
Chief executive officer
Pan African Federation of Accountants (PAFA)
Intergritas II; 7 Zulberg Close
Bruma lake, 2196
PO Box 59875
T. +27 11 479 0602
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