The CIMA practising certificate is a license to practice and is issued following an admission to CIMA's member in practice register or following successful annual renewal.
CIMA has an obligation to protect the public; they must have confidence in the integrity and standards of those who are licensed by the Institute.
CIMA is aware that circumstances change. To ensure that only registered and monitored members in practice are licensed; practising certificates are only valid for one calendar year. A replacement practising certificate will be re-issued once your annual member in practice renewal is completed.
A mark of professionalism
CIMA members in practice achieve and maintain professionalism through compliance with regulations around CPD, anti-money laundering and mandatory requirement policies. The practising certificate highlights that the holder has attained a level of competency to offer management accountancy services to the public and does so in an ethical and professional manner.
Conditions of use
Members must meet the requirements of CIMA’s Member in Practice Rules to become a registered member in practice and to maintain their registration.
Rule 6 and 8 set out the key regulatory requirements for members in practice. To ensure robust monitoring processes members must comply with requests by CIMA to provide evidence of compliance with those requirements, usually within 28 days.
CIMA have dedicated staff and resources to support members through their compliance. However, should a member fail to comply within the given timeframe it could result in one or more adverse consequences (updated Member in Practice Rules, effective from 1st March 2020) such as:
- cancellation of a member in practice application or renewal application;
- a fixed financial penalty (£250 or local equivalent to be paid within 56 days of receipt);
- suspension of the members Practising Certificate; and
- referral into CIMA’s disciplinary procedures.
Any member whose Practising Certificate is suspended or withdrawn must immediately stop holding him/herself out as a member in practice and using the Institute’s logo.
Being issued with a financial penalty or payment of a fixed financial penalty does not remove the requirement for the member to prove compliance with the Member in Practice Rules.
Any member found to be providing accounting services to clients whilst not registered as a member in practice may be referred to the Investigation Committee for consideration under CIMA’s disciplinary procedures and to HMRC or other law enforcement agencies as appropriate. Members are warned that failure to register for anti-money laundering supervision may be a statutory offence.
To ensure that only registered and monitored members in practice are licensed; practising certificates are valid for one calendar year only. A replacement practising certificate will be re-issued once your annual member in practice renewal is completed and all the required documents submitted as per CIMA’s renewal requirements.
All members working in practice must be compliant with CIMA's mandatory requirements. CIMA conducts quality assurance checks upon these documents and selected members are required to send in copies as confirmation of compliance and to ensure they meet CIMA's quality criteria.
Holders of CIMA practising certificates are entitled to call themselves chartered management accountants. Find out more about use of the title.