- The world’s largest management accounting professional body marks centenary year with its future of finance initiative to transform the role of finance and the finance function.
- Official history book launched, capturing CIMA’s position at the forefront of leading business and finance for the last 100 years.
- Collaborated with Workforce Singapore (WSG), Singapore Accountancy Commission (SAC) announcing a new Professional Conversion Programme (PCP) for mid-career individuals keen to embark on new careers as Management Accountants.
Singapore, 24th April 2019 – On 8th March 2019, the world’s largest body of management accountants, The Chartered Institute of Management Accountants® (CIMA), celebrates its 100th birthday.
Paving the way to the official birthday celebration, CIMA launched earlier in the year its Future of Finance initiative and released its white paper Re-inventing finance for a digital world to lead the profession forward. The research findings have informed the updated CGMA Competency Framework, the new 2019 CIMA Professional Qualification Syllabus and a Digital Mindset Pack that will give finance professionals the resources they need to thrive in the digital age.
To coincide with the official anniversary date, CIMA’s official history book was launched at the CIMA President’s dinner in London. Paul Polman, KBE, Hon. FCMA, former Unilever chief executive, gave a keynote address. He highlighted CIMA’s value to business and reinforce the link with the first CIMA President, Lord Leverhulme, who founded the company that went on to become Unilever.
Steven Swientozielskyj FCMA, CGMA, President of CIMA, said: “In 1919 a new breed of accountant was created to help industry leaders deal with the challenges of the early 20th century. One hundred years later, CIMA members and students are at the cutting edge of finance, guiding decision makers and driving business transformation.
“It is a privilege to be CIMA’s President during this special year – a year when we respect our great heritage and embrace our future. We can reflect at how we have led change over the past 100 years, retained our core values and been purpose driven. We can also feel proud that we have established a global management accounting profession that is fit for the future of finance. I want to thank the members and students who have made CIMA what is today.”
Andrew Harding, FCMA, CGMA, Chief Executive – Management Accounting – continued:
“CIMA’s success is all about evolution, embracing change and remaining relevant. You can see this embodied through the launch of CIMA’s Future of Finance initiative, a new CGMA competency framework and updated CIMA Professional Qualification in our centenary year. It also reflects our ongoing work through The Association of International Certified Professional Accountants (The Association), combining our strengths with those of the American Institute of CPAs to drive a dynamic accounting profession worldwide.
“As CIMA looks to the next 100 years it can do so with confidence, knowing it has the benefits of this combined strength, a truly global standard with the Chartered Global Management Accountant (CGMA) designation, and the means to provide the world’s most highly-skilled accountants with knowledge, insight and foresight to meet the demands of a rapidly changing world”.
The CIMA Centenary Gala Dinner 2019 in Singapore with the President also saw the special presentation of awards in recognising the new members as well as those members that have been with CIMA for 10 years or more.
The special centenary celebration also saw the attendance from Singapore’s Minister for Manpower and Second Minister for Home Affairs, Mrs Josephine Teo who launched the Professional Conversion Programme (PCP) for Management Accountants at the momentous evening.
In line with the Accountancy Roadmap under the ITM for Professional Services, the development of the PCP for Management Accountants (“PCP MA”) aims to provide a pathway for professionals disrupted by technology to remain relevant, and develop a pipeline of future ready talents, through the strengthening of management skill sets in order to support strategic business decisions.
This ten-month place-and-train programme will provide mid-career individuals with prior diploma or degree in accountancy or possess at least 3 years of relevant working experience to take on new roles in management accounting. Training consists of 6 modules (including 1 CIMA operational case study exam) spread out across a period of 10 months or more. Training will be in the form of workshops conducted by facilitators with e-learning components, and assessment(s) at the end of each module. These training help to ensure that individuals are ready to embark in a new career as Management Accountants.
Individuals will be certified with Singapore Polytechnic’s Certificate in Enhanced Skills in Management Accounting, and CIMA’s Diploma in Management Accounting upon completing the PCP. Through the PCP, accounting professionals will be equipped with up-to-date knowledge and skills in technology and deepen their knowledge in management accounting. The PCP also doubles up as a redeployment programme for companies looking to move and reskill existing employees and prepare them for new roles in management accounting.
Follow CIMA’s centenary story through the year at #CIMA100.