Launch of Professional Learning and Development Website for Management Accountants
In a joint project between the American Institute of CPAs (AICPA) and CIMA, the Chartered Institute of Management Accountants, these two leading global accounting bodies have developed an innovative Continuous Professional Development (CPD) learning tool for the more than 150 000 management accountants around the world.
CIMA launches global learning accreditation for tuition providers
This month CIMA launched a newly updated accreditation scheme for its local and global tuition providers.
CIMA is looking for the next global business leaders
South African students in universities and colleges have an opportunity to gain global exposure and learn valuable skills for the future, through CIMA’s 2015 Global Business Challenge.
Professional qualification can solve university crisis
According to news reports, 150,752 matriculates qualified for admission to study towards a degree (Bachelor’s pass) and 166,689 for admission to study towards a diploma in South Africa in 2014. Universities have been flooded with applications. Applications from more than 90,000 prospective students were received by UKZN which can only accommodate 8,400 undergraduates.
A similar situation is being experienced at Johannesburg’s two major universities, with only about 10% of applicants being accepted to University of the Witwatersrand (Wits) and the University of Johannesburg (UJ). Over 51,000 applications were received for 6,500 undergrad places at Wits and 111,200 applications for 10,500 places at UJ.
Responding to these news reports, Zahra Cassim, Head of South Africa for CIMA, says that there is hope for those who don’t gain a place in an accounting degree programme at university. All is not lost she says, as there are other options including professional qualifications offered by professional institutes.
PC exams – November 2014 exam diet
Information for the November 2014 T4 on PC exam sessions is now available.
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.'
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.
Zahra Cassim, Head of South Africa, says: '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.'